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This pocket edition of the Global Financial Development Database contains 38 indicators of financial development in 205 economies, including measures of financial depth, access, efficiency, and stability of financial institutions and markets. Additional variables, historical observations, and links to underlying research are available at www.worldbank.org/financialdevelopment
This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe. This frontier takes into account structural country characteristics, institutional, and macroeconomic factors that impact financial system deepening. We operationalize this framework using a benchmarking exercise, which relates the difference between the actual level of financial development and the level predicted by structural characteristics, to an array of policy variables. We also show that an overshooting of the financial system significantly beyond levels predicted by its structural fundamentals is associated with credit booms and busts.
Strengthening financial sector regulatory arrangements has been a major focus of the G-20 since the crisis in 2008, and progress in strengthening financial regulations is often cited as its success. Nonetheless, the overall contribution of the G20 as a political forum for the oversight of international financial regulation is diming as FinTech is blurring the boundaries between intermediaries and markets, as well as between digital service providers moving into the financial space, nonbank financial companies, and banks. Along the same line, financial technology is causing paradigm changes to the traditional financial system, presenting both challenges and opportunities. As FinTech grows rap...
This new annual publication from the World Bank Group provides an overview and assessment of financial sector development around the world, with particular attention on medium- and low-income countries.
This book synthesizes the results of a comprehensive analysis of the status, prospects, and challenges of sustainable financial development in Latin America, as well as the lessons for developed and developing countries.
During the 1980s and 1990s, financial sectors were the Achilles heel of economic development in Latin America and the Caribbean (LAC). Since then, these sectors have grown and deepened, becoming more integrated and competitive, with new actors, markets, and instruments springing up and financial inclusion broadening. To crown these achievements, the region s financial systems were left largely unscathed by the global financial crisis of 2008 09. Now that the successes of LAC s macrofinancial stability are widely recognized and tested, it is high time for an in-depth stocktaking of what remains to be done. Financial Development in Latin America and the Caribbean: The Road Ahead provides both ...
Explores the prospects for sustaining strong economic growth in the United States in the face of recent challenging trends.
The paper finds that while there are important regional and national differences, countries are broadly embracing the opportunities of fintech to boost economic growth and inclusion, while balancing risks to stability and integrity.