What Determines Financial Development in the Former Soviet Union Countries: Remittances, Institutions, or Human Capital?
| Author: | Mgr. Victoria Plešinger Lozinschi |
|---|---|
| Year: | 2010 - summer |
| Leaders: | PhDr. Pavel Vacek Ph.D. |
| Consultants: | |
| Work type: | Masters MEF |
| Language: | English |
| Pages: | 61 |
| Awards and prizes: | |
| Link: | |
| Abstract: | This paper is an attempt to find out the determinants of the financial deepening in a panel of 15 Former Soviet Union countries and Mongolia. The explanatory variables are good institutions, human capital and remittances. The main results of the model are: (1) Remittances do influence positively financial deepening in this set of data when using random effects models; (2) Human Capital has a negative impact when using fixed effects; (3) Institutions do not have any impact; (3) Russia does not behave differently than other countries in this model; (4) Natural endowments of hydrocarbon do not influence the relationships between financial deepening and the three explanatory variables. |
