Financial markets have been developed rapidly in recent years. New and sophisticated financial tools have been the cause of these developments which need new controlling systems to prevent crisis. Most of industrial economies have reformed regulatory structure of their financial systems. This paper reviews the regulatory developments of UK in this regard and offers new regulations and ...

This paper provides an empirical assessment of the effects of financial sector policies on development of the financial system in Malaysia over the period 1959-2005. The technique of principal component analysis is used to construct a summary measure of interest rate policies in order to account for the joint influence of various interest rate controls imposed on the Malaysian financial system....

This study examines the influence of financial intermediation on fertility rate and labor allocation decisions. A panel Vector Autoregression model using three variables of interest, specifically, financial intermediation, fertility, and industrial employment data in 87 countries, was estimated. This convenient methodology allows the relationship between the variables to change over time. Fi...

As a result of increasing competition, European financial intermediaries have had to place an increasing emphasis on reducing total costs. Although expenditure on wages represent a major element of these costs there is a dearth of studies analyzing wage levels in the sector. This paper examines reservation wage levels in the financial services sector by utilizing OLS and stochastic frontier met...

T his study investigates the impact of bank regulation on financial development in the MENA countries for the period 1995-2014. Restrictions on activity, foreign banks, and capital were used as proxies for bank regulation. Also, bank supervisory power, independence, private monitoring, and moral hazard were used as proxies for bank supervision. Liquid liabilities, private credit, and...

We embed the notion of banks as monitors who reduce risk into a “two-trees” framework, and consider an economy in which capital can be moved between the trees. We characterize how resources are optimally allocated between the intermediated banking sector and a risky sector as a function of the relative size of the banking sector — the bank share — and the speed at which capital can move in and ...

The allocation of production across firms is a potentially important explanation of the productivity gap between rich and poor economies. Reforms to trade policy and the domestic financial sector are often both key elements of policy packages aimed at reducing productive distortions. However, the impact of each reform in reallocating production within an economy is usually analysed independentl...

This study examined the growth rates in agricultural investments and output in Nigeria from 19702009 using ordinary least square in a time series analysis. Findings revealed that agricultural investments and growth recorded a growth rate of 37.44 percent and 30.47 percent in the prefinancial sector reform periods. The result for the financial sector reform periods showed a growth rate of 23.00 ...

The allocation of production across firms is a potentially important explanation of the productivity gap between rich and poor economies. Reforms to trade policy and the domestic financial sector are often both key elements of policy packages aimed at reducing productive distortions. However, the impact of each reform in reallocating production within an economy is usually analysed independentl...