Revisiting the link between finance and macroeconomic volatility:
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.]
International Monetary Fund
©2013
|
| Series: | IMF working paper
WP/13/29 |
| Subjects: | |
| Online Access: | Volltext |
| Item Description: | Title from PDF title page (IMF Web site, viewed March 19, 2013). - At head of title: "Strategy, Policy, and Review Department.". - "January 2013." Includes bibliographical references This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 advanced and developing countries. We find that financial depth plays a significant role in dampening the volatility of output, consumption, and investment growth, but only up to a certain point. At very high levels, such as those observed in many advanced economies, financial depth amplifies consumption and investment volatility. We also find strong evidence that deeper financial systems serve as shock absorbers, mitigating the negative effects of real external shocks on macroeconomic volatility. This smoothing effect is particularly pronounced for consumption volatility in environments of high exposure - when trade and financial openness are high - suggesting significant gains from further financial deepening in developing countries |
| Physical Description: | 1 Online-Ressource (35 pages) |
| ISBN: | 9781475548259 1475548257 |
Staff View
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| 500 | |a This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 advanced and developing countries. We find that financial depth plays a significant role in dampening the volatility of output, consumption, and investment growth, but only up to a certain point. At very high levels, such as those observed in many advanced economies, financial depth amplifies consumption and investment volatility. We also find strong evidence that deeper financial systems serve as shock absorbers, mitigating the negative effects of real external shocks on macroeconomic volatility. This smoothing effect is particularly pronounced for consumption volatility in environments of high exposure - when trade and financial openness are high - suggesting significant gains from further financial deepening in developing countries | ||
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| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:14:01Z |
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| isbn | 9781475548259 1475548257 |
| language | English |
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| publisher | International Monetary Fund |
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| spelling | Dabla-Norris, Era Verfasser aut Revisiting the link between finance and macroeconomic volatility Era Dabla-Norris and Narapong Srivisal [Washington, D.C.] International Monetary Fund ©2013 1 Online-Ressource (35 pages) txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/13/29 Title from PDF title page (IMF Web site, viewed March 19, 2013). - At head of title: "Strategy, Policy, and Review Department.". - "January 2013." Includes bibliographical references This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 advanced and developing countries. We find that financial depth plays a significant role in dampening the volatility of output, consumption, and investment growth, but only up to a certain point. At very high levels, such as those observed in many advanced economies, financial depth amplifies consumption and investment volatility. We also find strong evidence that deeper financial systems serve as shock absorbers, mitigating the negative effects of real external shocks on macroeconomic volatility. This smoothing effect is particularly pronounced for consumption volatility in environments of high exposure - when trade and financial openness are high - suggesting significant gains from further financial deepening in developing countries BUSINESS & ECONOMICS / Finance bisacsh Finance / Econometric models fast Macroeconomics / Econometric models fast Entwicklungsländer Wirtschaft Ökonometrisches Modell Finance Developing countries Econometric models Finance Developed countries Econometric models Macroeconomics Econometric models Srivisal, Narapong Sonstige oth International Monetary Fund Strategy, Policy, and Review Department Sonstige oth http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=548045 Aggregator Volltext |
| spellingShingle | Dabla-Norris, Era Revisiting the link between finance and macroeconomic volatility BUSINESS & ECONOMICS / Finance bisacsh Finance / Econometric models fast Macroeconomics / Econometric models fast Entwicklungsländer Wirtschaft Ökonometrisches Modell Finance Developing countries Econometric models Finance Developed countries Econometric models Macroeconomics Econometric models |
| title | Revisiting the link between finance and macroeconomic volatility |
| title_auth | Revisiting the link between finance and macroeconomic volatility |
| title_exact_search | Revisiting the link between finance and macroeconomic volatility |
| title_full | Revisiting the link between finance and macroeconomic volatility Era Dabla-Norris and Narapong Srivisal |
| title_fullStr | Revisiting the link between finance and macroeconomic volatility Era Dabla-Norris and Narapong Srivisal |
| title_full_unstemmed | Revisiting the link between finance and macroeconomic volatility Era Dabla-Norris and Narapong Srivisal |
| title_short | Revisiting the link between finance and macroeconomic volatility |
| title_sort | revisiting the link between finance and macroeconomic volatility |
| topic | BUSINESS & ECONOMICS / Finance bisacsh Finance / Econometric models fast Macroeconomics / Econometric models fast Entwicklungsländer Wirtschaft Ökonometrisches Modell Finance Developing countries Econometric models Finance Developed countries Econometric models Macroeconomics Econometric models |
| topic_facet | BUSINESS & ECONOMICS / Finance Finance / Econometric models Macroeconomics / Econometric models Entwicklungsländer Wirtschaft Ökonometrisches Modell Finance Developing countries Econometric models Finance Developed countries Econometric models Macroeconomics Econometric models |
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