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Impact of Financial Infrastructure on Financial Development

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  • Dimitar Rafailov

    (University of Economics - Varna)

Abstract

Financial development is a major factor that determines the economic situation and income level in different countries. Improving the financial infrastructure is a prerequisite for a more developed financial sector and its impact is an important issue to explore. For this purpose, data from 149 countries for the period 2010 - 2017 are analyzed, outlining the main trends in the development of financial infrastructure around the world. The econometric analysis of panel data shows that financial infrastructure has a significant positive impact on financial development. The main conclusion is that the better financial infrastructure will have a beneficial effect on the financial system and economic development.

Suggested Citation

  • Dimitar Rafailov, 2019. "Impact of Financial Infrastructure on Financial Development," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 8(2), pages 83-93, August.
    • Handle: RePEc:vra:journl:v:8:y:2019:i:2:p:83-93
    DOI: 10.36997/IJUSV-ESS/2019.8.2.83
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    References listed on IDEAS

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    More about this item

    Keywords

    financial infrastructure; financial development; financial system; financial institutions;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • G00 - Financial Economics - - General - - - General

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