Abstract
References
- Analytical Business Enterprise Research and Development Database (ANBERD), (Online), Access date: March 01, 2017, http://www.oecd.org/
- Beck, Chen T., Lin C., & Song Frank M. 2012, “Financial Innovation: The Bright and the Dark Sides”, HKIMR Working Paper 05/2012
- Hausman, J. A. 1978, “Specification tests in econometrics. Econometrica”, Journal of the Econometric Society, 1251-1271.
- Hannig, A. and Jansen, S. 2010, “Financial Inclusion and Financial Stability: Current Policy Issues”, ADBI Working Paper No. 259, December 21.
- Honohan, P. 2006, “Household Financial Assets in the Process of Development”, Policy Research Working Paper; No. 3965. World Bank, Washington
- Kıyılar, M. & Akkaya, M. 2016. Davranışsal Finans. Literatür Yayınları, İstanbul, 2016
- Laderman, Elizabeth S. 1990. "The Public Policy Implications of State Laws Pertaining to Automated Teller Machines," Economic Review, Federal Reserve Bank of San Francisco, Winter, 43-58.
- Lerner, J. 2002, "Where Does State Street Lead? A First Look at Finance Patents, 1971- 2000," Journal of Finance, 57, p. 901-930.
- Saldanli, A., Seker, M., 2013, “Finansal Gelişim Endeksi: Türkiye'deki illerin finansal gelişim seviyelerinin ölçülebilmesi için bir yaklasim”: “Financial Development Index: An Approach to measurement of levels of Turkey's provinces financial development”. World of Accounting Science. 15, 3, 17-38, Sept. 2013. Issn: 1302258x.
- Shaw, E. 2002, Financial Deepening in Economic Development, Oxford University Press, London, 10-11
- Tatoglu Yerdelen F. 2013. Panel Veri Ekonometrisi, Beta Yayınları, 2.Baskı, Ekim, ISBN 978-605-333-003-5
- Valverde Carbó S., Del Paso Lopez R. and Fernández Rodríguez F. 2011, “Financial Innovations in Banking: Impact On Regional Growth”, Regional Studies, 41:3, 311-326.
Abstract
Purpose- Financial
innovation augment the investment alternatives of individuals, allowing them to
have different investment opportunities in changing economic conditions.
Channeling the idle savings into productive sectors increase the fund margin of
households and entrepreneurs facing financial squezee. The aim of this paper to
examine the impact of financial services on savings and domestic savings. The
paper analyzes the main determinants of savings in twenty upper middle income,
high income countries for the period of 2005-2014.
Methodology-
In this paper, we build panel data analyses to investigate the impact of
innovation in financial markets on savings and domestic savings.
Findings- Level of
financial innovation and financial access are important parameters affecting
both gross savings and gross domestic savings. higher financial innovation
leads to higher savings and domestic savings. The net interest margin and
banking crisis has a negative effect on savings in both models. Increase in
capital formation contribute to higher gross savings and gross domestic
savings.
Conclusion- The paper
finds that financial innovation and diversification is an important lever in
the increasing of savings, therefore confirming the “liberalization of
financial market” hypothesis.
References
- Analytical Business Enterprise Research and Development Database (ANBERD), (Online), Access date: March 01, 2017, http://www.oecd.org/
- Beck, Chen T., Lin C., & Song Frank M. 2012, “Financial Innovation: The Bright and the Dark Sides”, HKIMR Working Paper 05/2012
- Hausman, J. A. 1978, “Specification tests in econometrics. Econometrica”, Journal of the Econometric Society, 1251-1271.
- Hannig, A. and Jansen, S. 2010, “Financial Inclusion and Financial Stability: Current Policy Issues”, ADBI Working Paper No. 259, December 21.
- Honohan, P. 2006, “Household Financial Assets in the Process of Development”, Policy Research Working Paper; No. 3965. World Bank, Washington
- Kıyılar, M. & Akkaya, M. 2016. Davranışsal Finans. Literatür Yayınları, İstanbul, 2016
- Laderman, Elizabeth S. 1990. "The Public Policy Implications of State Laws Pertaining to Automated Teller Machines," Economic Review, Federal Reserve Bank of San Francisco, Winter, 43-58.
- Lerner, J. 2002, "Where Does State Street Lead? A First Look at Finance Patents, 1971- 2000," Journal of Finance, 57, p. 901-930.
- Saldanli, A., Seker, M., 2013, “Finansal Gelişim Endeksi: Türkiye'deki illerin finansal gelişim seviyelerinin ölçülebilmesi için bir yaklasim”: “Financial Development Index: An Approach to measurement of levels of Turkey's provinces financial development”. World of Accounting Science. 15, 3, 17-38, Sept. 2013. Issn: 1302258x.
- Shaw, E. 2002, Financial Deepening in Economic Development, Oxford University Press, London, 10-11
- Tatoglu Yerdelen F. 2013. Panel Veri Ekonometrisi, Beta Yayınları, 2.Baskı, Ekim, ISBN 978-605-333-003-5
- Valverde Carbó S., Del Paso Lopez R. and Fernández Rodríguez F. 2011, “Financial Innovations in Banking: Impact On Regional Growth”, Regional Studies, 41:3, 311-326.
Details
| Journal Section | Articles |
|---|---|
| Authors | |
| Publication Date | June 30, 2017 |
| Published in Issue | Year 2017 Volume: 6 Issue: 2 |
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