Information Asymmetry and Financial Development Dynamics in Africa-信息不对称与非洲...

是 否 +2 论坛币

k人 参与回答

经管之家送您一份

应届毕业生专属福利!

求职就业群

赵安豆老师微信：zhaoandou666

经管之家联合CDA

送您一个全额奖学金名额~ !

立即领取

感谢您参与论坛问题回答

经管之家送您两个论坛币！

+2 论坛币

英文文献：Information Asymmetry and Financial Development Dynamics in Africa-信息不对称与非洲金融发展动态
英文文献作者：Simplice Asongu,Jacinta C. Nwachukwu,Vanessa S. Tchamyou
英文文献摘要：
We examine policy thresholds of information sharing for financial development in 53 African countries for the period 2004-2011. Public credit registries (PCR) and private credit bureaus (PCB) are used as proxies for reducing information asymmetry whereas financial development includes all financial dimensions identified by the Financial Development and Structure Database (FDSD) of the World Bank, namely: depth, efficiency, activity and size. The empirical evidence is based on interactive Generalised Methods of Moments with forward orthogonal deviations. The following findings are established. First, PCR and PCB have negative effects on financial depth, with the magnitude of the former higher. Second, contrary to PCR which have insignificant effects, PCB has a negative impact on banking system efficiency. Third, PCR and PCB have negative impacts on financial activity, with the magnitude of the latter higher. Moreover, their marginal effects are negative. Fourth, PCR and PCB have positive effects on financial size, with the effect of the former higher. While marginal effects are positive, corresponding thresholds are not within range. Policy implications are discussed.

我们研究了2004-2011年53个非洲国家金融发展信息共享的政策门槛。公共信用登记机构(PCR)和私人信用局(PCB)被用作减少信息不对称的代理，而金融发展包括世界银行金融发展和结构数据库(FDSD)确定的所有金融维度，即:深度、效率、活动和规模。经验证据是基于交互广义矩的正正交偏差方法。下面的发现是确定的。首先，PCR和PCB对财务深度有负面影响，前者的影响程度较高。其次，与PCR效应不显著相反，PCB对银行系统效率有负面影响。第三，PCR和PCB对金融活动有负面影响，后者的影响程度更高。此外，它们的边际效应是负面的。第四，PCR和PCB对财务规模有正向影响，且前者的影响更大。当边际效应为正时，相应的阈值不在范围内。讨论了政策含义。

扫码加我 拉你入群

请注明：姓名-公司-职位

以便审核进群资格，未注明则拒绝

分享0 收藏0 回帖