MARC Record from University of Toronto

LEADER: 01682cam 2200265Ia 4500
001 ocm67778906
005 20061122151057.0
008 060427s2006 dcua b i000 0 eng d
100 1 $aHauner, David.
245 10 $aFiscal policy and financial development /$cprepared by David Hauner.
260 $aWashington, D.C. :$bInternational Monetary Fund, Fiscal Affairs Dept.,$cc2006.
300 $a24 p. :$bill. ;$c28 cm.
440 0 $aIMF working paper ;$vWP/06/26
500 $a"January 2006."
504 $aIncludes bibliographical references (p. 22-24).
530 $aAlso available on the World Wide Web.
520 3 $aWe examine the effects of public sector borrowing from the domestic banking system on financial development in middle-income countries. While these countries' external debt has been falling, the share of bank credit absorbed by the public sector has been rising rapidly. We argue that this runs the risk of slowing financial development by affecting structural characteristics of the banking systems. We find empirical evidence that too much public sector borrowing harms financial deepening, and that banks mainly lending to the public sector tend to be more profitable but less efficient. We note that these effects add to the costs of fiscal prolificacy.
650 0 $aFiscal policy.
650 0 $aDebts, Public.
650 0 $aFinance.
650 0 $aBanks and banking.
650 0 $aEconomic development.
710 2 $aInternational Monetary Fund.$bFiscal Affairs Dept.
856 41 $3Full text;$zIssues from 1997- :$uhttp://www.imf.org/external/pubs/cat/wp1%5Fsp.cfm?
949 $aUN9..MF...6-2006I26$wLC$c1$i6020008-1001$lGOVPUBS$mDATAMAPGOV$rN$sY$tBOOK$u22/11/2006