金融学英语毕业论文范文 [7]
论文作者:英语论文论文属性:本科毕业论文 Thesis登出时间:2014-09-15编辑:yangcheng点击率:17314
论文字数:5428论文编号:org201409132210379027语种:英语 English地区:加拿大价格:免费论文
关键词:金融部门金融系统发展问题Economics EssayFinancial Sector
摘要:本文研究的是金融部门的发展问题,是一篇留学生金融学论文,金融部门是一套机构、工具、市场机制,同时还包括允许通过信贷扩展交易的法律和监管框架。当金融工具、市场和中介机构相互配合减少了信息,执法和交易成本时,部门就会得到发展。
s market continued to diminish owing to enhanced participation of non-bank institutions. At the end of 2010/2011, the total outstanding T-bills stood at Birr 10.8 billion, of which 91.7 percent was hold by non-bank institutions.
NBE Bill Market
On April 4, 2011 NBE introduced NBE Bill market to mobilize resource from the banking system to finance priority sectors identified as the driving forces of the economy. Following the introduction of the NBE Bill market, the total NBE bill purchased by the banking sector reached
Birr 6.3 billion.
Bonds Market
In recent years, following the strong growth in economic activities and real income, the issuance of corporate bonds has tended to increase. Outstanding Corporate bond holdings of CBE issued by regional states, EEPCO and DBE.
Inter-bank Money Market
The interbank money market was not active in Ethiopia due to the existence of excess reserves in the banking system. Accordingly, no inter-bank money market transaction was conducted since April 2008. Ever since the introduction of the interbank money market in September 1998, merely twenty three transactions worth Birr 259.2 million were conducted with interest rates ranging between 7 to 11 percent per year. The maturity period of these loans widely spanned from overnight to 5 years.
5. Financial Openness
The importance and impact of financial sector openness on financial sector development is debating issues. According to N.Birdsall (2006), Openness is not necessarily good for the poor. Reducing protection has not brought growth to today’s poorest countries, including Africa, and open capital markets have not been particularly good for the poorest households within many developing countries. He argues that within high-debt emerging market economies the financial crises, whether induced by domestic policy problems or global contagion, costly for the poor.
On the contrary Siong Hook Law and et al (2008) suggested that financial openness is an essential determinant of financial sector development especially for developing countries and emerging economies. Their analysis, suggests that the simultaneous opening of both trade and capital accounts holds the key to successful financial development. They conclude that opening up their capital accounts provide an effective stimulus to financial development in developing countries.
Kiyota (2007) strengthen the idea that liberalizing restrictions on foreign bank entry accelerated the efficiency of the domestic banking sector, and also contributed to long-run economic growth. He also found that higher government ownership of banks leads to not only slower subsequent financial sector development but also lower productivity growth.
HongHanh (2010) on the other hand argued that financial openness does contribute to financial sector development, but only when a threshold level of general development of legal systems and institutions has been attained. Otherwise, simply making country’s financial sector open to foreigners may not lead to the development of the sector.
In case of Ethiopia, due to the nature of financial sector, in which there are no foreign banks, a non-competitive market structures the state-owned banks have the dominant role and strong capital controls. Although series of financial sector reforms has be
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