Keeping the momentum:how finance can continue to support growth in EMEs

Bank for International Settlements
Authors registered in the RePEc Author Service: Ryan Niladri Banerjee, Fabrizio Zampolli and Aaron Nikolai Mehrotra

No 148 in BIS Papers from Bank for International Settlements

Abstract: This paper examines how finance can support economic growth in emerging market economies (EMEs). Historically, finance has contributed to rising income levels, yet its future impact is less certain. Evidence indicates that as credit and income levels increase, the positive impact of finance on growth tends to weaken. Additionally, unchecked credit expansion can lead to financial busts, resulting in prolonged periods of sub-par economic performance. At the same time, advances in digital technologies offer new opportunities for enhancing financial intermediation. Policy decisions will be key in three main areas: implementing structural reforms to improve market-based finance access; harnessing digital technologies to enhance financial efficiency and inclusion; and maintaining macro-financial stability to ensure sustainable growth.

Date: 2024 Written 2024-09
ISBN: 978-92-9259-787-0
References: View references in EconPapers View complete reference list from CitEc
Citations:

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Chapters in this book:

Keeping the momentum: how finance can continue to support growth in EMEs , pp 1-39

Ryan Banerjee, Aaron Mehrotra and Fabrizio Zampolli

The changing nature of the financial system: implications for economic resilience and long-term growth , pp 41-43

Central Bank of Algeria

The changing nature of the financial system: implications for resilience and long-term growth in emerging market economies , pp 45-61

Central Bank of Argentina

The changing nature of the financial system: the Chilean experience , pp 63-75

Central Bank of Chile

Making China's financial system better serve the real economy , pp 77-87

People's Bank of China

Some trends and patterns of firm financing in Colombia , pp 89-118

Central Bank of Colombia

The changing nature of the financial system: implications for resilience and long-term growth in emerging market economies (EMEs) , pp 119-134

Czech National Bank

The use of digital innovation for reducing SMEs' credit constraints: Hong Kong SAR's recent experience , pp 135-144

Hong Kong Monetary Authority

Covered bonds as instruments for developing capital markets and supporting financial stability: the Hungarian experience , pp 145-158

Magyar Nemzeti Bank

The changing nature of the financial system: implications for resilience and long-term growth in emerging market economies , pp 159-180

Reserve Bank of India

The impact of global capital flows on financial intermediation and monetary transmission in Indonesia , pp 181-186

Bank Indonesia

The changing nature of the financial system in Israel in the last two decades , pp 187-201

Bank of Israel

Sectoral credit shifts and potential issues in economic growth , pp 203-209

Bank of Korea

The changing nature of the financial system: implications for resilience and long-term growth in emerging market economies , pp 211-225

Bank Negara Malaysia

The changing nature of the financial system in Mexico: the allocation of finance, long-term growth and policy measures , pp 227-235

Bank of Mexico

The changing nature of the financial system: implications for resilience and long-term growth in EMEs: the Peruvian experience , pp 237-264

Central Reserve Bank of Peru

Key changes in the Polish financial system in recent years , pp 297-329

National Bank of Poland

How credit and its sectoral allocation contribute to long-term economic growth in Saudi Arabia , pp 331-343

Saudi Central Bank

The changing nature of the financial system: implications for resilience and long-term growth in emerging market economies , pp 345-358

South African Reserve Bank

The changing nature of the financial system: implications for resilience and long-term growth in EMEs , pp 359-365

Bank of Thailand

The changing role of state banks in Türkiye: an assessment of recent trends , pp 367-387

Central Bank of the Republic of Türkiye

The role of bank credit toward sustainable development in Vietnam , pp 389-393

The State Bank of Vietnam

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Chapter: Keeping the momentum: how finance can continue to support growth in EMEs (2024)
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