Financial Development and Technology

Research in development economics reveals that the bulk of cross-country differences in economic growth is attributable to differences in productivity. By some accounts, productivity contributes to more than 60 percent of countries’ growth in per capita GDP. I examine a particular channel through which financial development could explain cross-country and crossindustry differences in realized productivity. I argue that financial development induces technological innovations – a major stimulus of productivity - through facilitating capital mobilization and risk sharing. In a panel of industries across thirty eight countries, I find that financial development explains the cross-country differences in industry rates of technological progress, rates of real cost reduction and rates of productivity growth. I find that the effect of financial development on productivity and technological progress is heterogeneous across industrial sectors that differ in their needs for financing innovation. In particular, industries whose younger firms depend more on external finance realize faster rate of technological change in countries with more developed banking sector.http://deepblue.lib.umich.edu/bitstream/2027.42/40135/3/wp749.pd

The Status of Information Communication and Technology in Financial Institutions in Nigeria

This paper focuses on an application of Information Communication and Technology in Nigeria Financial Institution like the use of Automated Teller Machine (ATM), Smart Cards etc. It also embraces the role of information technology in our contemporary environment. The computerization of Nigeria financial institution was not left out from the discussion of the subject matter. The value of information communication and technology in financial institution together with methodology and hypothesis were critically analysed to consolidate the important of information technology in financial institution. Finally, the summary and recommendations were given to enhance the greater efficiency in Banking Industry in the post consolidation and recapitalization of financial Institution.Automated Teller Machine, information and communications technology; technological breakthroughs; centralized architecture; global depository receipt

Knowledge, Technology Adoption and Financial Innovation

Why are new financial instruments created? This paper proposes the view that financial development arises as a response to the contractual needs of emerging technologies. Exogenous technological progress generates a demand for new financial instruments in order to share risk or overcome private information, for example. A model of the dynamics of technology adoption and the evolution of financial instruments that support such adoption is presented. Early adoption may be required for financial markets to learn the technology; once learned, financial innovation boosts adoption further. Financial learning emerges as a source of technological diffusion. The analysis identifies a causality link from technology to growth which is nonetheless consistent with empirical findings of a positive effect of current financial development on future growthTechnology adoption; financial innovation; learning

Financial Development and Technology

Research in development economics reveals that the bulk of cross-country differences in economic growth is attributable to differences in productivity. By some accounts, productivity contributes to more than 60 percent of countries’ growth in per capita GDP. I examine a particular channel through which financial development could explain cross-country and crossindustry differences in realized productivity. I argue that financial development induces technological innovations – a major stimulus of productivity - through facilitating capital mobilization and risk sharing. In a panel of industries across thirty eight countries, I find that financial development explains the cross-country differences in industry rates of technological progress, rates of real cost reduction and rates of productivity growth. I find that the effect of financial development on productivity and technological progress is heterogeneous across industrial sectors that differ in their needs for financing innovation. In particular, industries whose younger firms depend more on external finance realize faster rate of technological change in countries with more developed banking sector.Financial Development, Productivity Growth, Technological Progress, Innovation

Financial Development and Technology

Research in development economics reveals that the bulk of cross-country differences in economic growth is attributable to differences in productivity. By some accounts, productivity contributes to more than 60 percent of countries’ growth in per capita GDP. I examine a particular channel through which financial development could explain cross-country and crossindustry differences in realized productivity. I argue that financial development induces technological innovations ñ a major stimulus of productivity - through facilitating capital mobilization and risk sharing. In a panel of industries across thirty eight countries, I find that financial development explains the cross-country differences in industry rates of technological progress, rates of real cost reduction and rates of productivity growth. I find that the effect of financial development on productivity and technological progress is heterogeneous across industrial sectors that differ in their needs for financing innovation. In particular, industries whose younger firms depend more on external finance realize faster rate of technological change in countries with more developed banking sector.http://deepblue.lib.umich.edu/bitstream/2027.42/57259/1/wp879 .pd

Invisible Market: Energy and Agricultural Technologies for Women's Economic Advancement

This research explores what it takes for technology initiatives, specifically in the energy and agricultural sectors, to reach and economically benefit women in developing countries through market-based strategies that have the potential for achieving scale and financial sustainability. It builds on ICRW's landmark paper, Bridging the Gender Divide: How Technology Can Advance Women Economically, which made the case for how technologies can create pathways for strengthening women's economic opportunities. Through a field-level investigation and interviews with experts, the authors examine how women's use of technology and their involvement in the development and distribution of a technology can not only advance women economically, but also can benefit enterprise-based technology initiatives by expanding their markets and helping them generate greater financial returns

The Financing and Governance of New Technologies

This paper examines the financial sector preconditions for the successful development of high technology sectors. It argues that there is a close relation between types of activities undertaken in different countries and their institutional structures. A distinguishing characteristic of the financing of new technology firms is their evolving pattern of control by different investor groups. While stock markets are an important component of the development of the most successful firms, they are not the most common. Regulation is a significant influence on institutional structure. For the most part, Europe has opted for high levels of investor protection and low levels of diversity, while the U.S. has placed more emphasis on entry and competition in the financial sector. While most attention to date has focused on the regulation and fragility of banking systems in Japan and the Far East, careful consideration needs to be given to alternative forms of regulating other parts of the financial system as well.high technology finance, corporate governance, financial systems, financial regulation