Series: IMF Working Papers
Author(s): Kangni Kpodar , Maelan Le Goff , and Raju Singh
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 25 March 2019
Keywords: Financial sector development, Economic stabilization, Real sector, International capital markets, Terms of trade, Banks, stock markets, terms of trade shocks, growth volatility, volatility
This paper contributes to the literature by looking at the possible relevance of the structure of the financial system-whether financial intermediation is performed through banks or markets-for macroeconomic volati...