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We 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.
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1
Fiscal Policy and Financial Development
2006, International Monetary Fund
in English
1451908229 9781451908220
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2
Fiscal policy and financial development
2006, International Monetary Fund, Fiscal Affairs Dept.
in English
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3
Fiscal Policy and Financial Development
2006, International Monetary Fund
in English
1452779414 9781452779416
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4
Fiscal Policy and Financial Development
2006, International Monetary Fund
in English
1451862865 9781451862867
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Book Details
Edition Notes
"January 2006."
Includes bibliographical references (p. 22-24).
Also available on the World Wide Web.
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