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Financial Development and Structure Dataset (updated Nov. 2013)

Authors:Thorsten Beck , Asli Demirguc-Kunt , Ross Eric Levine , Martin Cihak  and Erik H.B. Feyen
Web Address:Finance Research
Topics:Financial Sector
Report Number:WPS2146, WPS4943, WPS6175

Thorsten Beck, Aslı Demirgüç-Kunt and Ross Levine, (2000), "A New Database on Financial Development and Structure," World Bank Economic Review 14, 597-605. (An earlier version was issued as World Bank Policy Research Working Paper 2146.)

Thorsten Beck, Aslı Demirgüç-Kunt, and Ross Levine, "Financial Institutions and Markets Across Countries and over Time: Data and Analysis", World Bank Policy Research Working Paper 4943, May 2009.

Martin Čihák, Aslı Demirgüç-Kunt, Erik Feyen, and Ross Levine, “Benchmarking Financial Development Around the World”, World Bank Policy Research Working Paper 6175, August 2012.

Disclaimer: These data are provided on an "as-is" basis and their accuracy is not guaranteed by the World Bank. All errors are the authors' own.

This database of indicators of financial development and structure across countries and over time includes a range of indicators (31 indicators in total), starting from 1960, that measure the size, activity, and efficiency of financial intermediaries and markets.

The compiled data permits the construction of financial structure indicators to measure whether, for example, a country's banks are larger, more active, and more efficient than its stock markets. These indicators can then be used to investigate the empirical link between the legal, regulatory, and policy environment and indicators of financial structure. They can also be used to analyze the implications of financial structure for economic growth.

Latest version:
November 2013

The Financial Development and Structure dataset updated in November 2013 contains data from 1960 through 2011. Similar to its previous, April 2013 version, the revised dataset covers 203 jurisdictions and it is a subset of the broader Global Financial Development Database.

All indicators have been recalculated for the entire time period to ensure higher quality and consistency over time. The file contains a sheet with definitions and sources. For more detailed definitions and descriptions of the underlying sources, please see the working papers below.

Amin Mohseni-Cheraghlou and Subika Farazi were instrumental in this update.

An additional compressed file contains files with macroeconomic and institutional data averaged over the period 1980-95 that have been used as dependent or controlling variables by some of the authors in recent papers. To access the compressed file please click on this self-extracting zip file: download the file, do a File, Run, and the files will be extracted.

Beck, Demirgüç-Kunt, and Levine (2000) describe the sources and construction of, and the intuition behind, different indicators and present descriptive statistics of the Financial Development and Structure dataset.

Čihák, Demirgüç-Kunt, Feyen, and Levine (2012) discuss the related Global Financial Development Database, which encompasses all the statistics from the Financial Development and Structure dataset, plus several additional series.

Older versions:
April 2013 dataset.
September 2012 and November 2010 

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