01889cas a2200253 a 4500 AALejournalIMF003841 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451948110 1018-5941 BD-DhAAL BD-DhAAL Johnston, R. Linkages Between Financial Variables, Financial Sector Reform and Economic Growth and Efficiency / R. Johnston, Ceyla Pazarbasioglu. Washington, D.C. : International Monetary Fund, 1995. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes the different channels through which financial variables and financial sector reform can affect economic growth and efficiency, using panel data for 40 countries which reformed their financial systems. Financial sector reform is hypothesized to affect economic growth and efficiency through three main channels: the real interest rate representing the interest cost of capital, the volume of intermediation, and financial sector efficiency. The results indicate that financial reforms have structural effects; that financial variables and reforms are important determinants of economic performance; that the impact depends on whether countries did or did not face a financial crisis; and that the 'quality' of financial sector reform matters. Mode of access: Internet Pazarbasioglu, Ceyla. IMF Working Papers; Working Paper ; No. 1995/103 Full text available on IMF http://elibrary.imf.org/view/journals/001/1995/103/001.1995.issue-103-en.xml IMF e-Library