Impact of Financial Infrastructure on Financial Development

Dimitar Rafailov ()
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Dimitar Rafailov: University of Economics - Varna

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2019, vol. 8, issue 2, 83-93

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.

Keywords: financial infrastructure; financial development; financial system; financial institutions (search for similar items in EconPapers)
JEL-codes: G00 O16 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/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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