Introducing a New Broad-based Index of Financial Development

Foreign and Domestic Investment in Global Bond Markets

“…In empirical tests, we measure financial market development (FINDEV) as the natural logarithm of the financial development indicator constructed in Svirydzenka (2016). This financial development index comprehensively covers financial market depth, accessibility, and efficiency, and the level of financial institution development.…”

“…Monthly returns on local bond markets are collected from the JP Morgan GBI Aggregate Diversified Index and Emerging Market Bond Index Global Diversified via Bloomberg. The financial development indicator is collected from Svirydzenka (2016).After matching all the variables, we get a final panel dataset consisting of 241 observations covering 41 bond markets for the period 2010-2015. Our sample is reasonably representative.…”

Diaspora Remittance Inflow, Financial Development and the Industrialisation of Africa

“…The development of the financial system means that financial institutions are efficient in performing their responsibility of transforming mobilised deposits into credit for economic operators within an economy. Thus, for a financial system to be efficient there must be credit flowing more or less from the financial system to the real economy through the pooling of savings and allocation of capital to productive investments, among others (Levine, 2005;Estrada et al, 2010;Svirydzenka, 2016). In the long-run, the efficiency of the financial system can lead to the growth of the manufacturing sector and industrial development (Shahbaz & Lean, 2012;Udoh & Ogbuagu, 2012;Ewetan & Ike, 2014).…”

Оценка Опережающего Развития Финансового Сектора

“…34 Svirydzenka, 2016) было показано, что существует высокая корреляция между Индексом финансового развития и его частными пока-зателями (за исключением показателей эффективности финансовых институтов и финансовых рынков), с одной стороны, и показателем кредита частному сектору, с другой стороны. Для нас важно отметить, что показатели финансовой глубины приме-нительно как к финансовым институтам, так и к финансовым рынкам, используемые при расчете Индекса финансового развития, имеют с показателем кредита частному сектору высокие показатели корреляционной связи.…”