Work detail

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.

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