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This study investigates the relationship between financial sector development and progress in reaching the Millennium Development Goals (MDGs). It assesses the contribution of countries' financial sector development to achieving the MDGs. The focus is on the relationships between financial development and economic welfare and growth, and the following four MDG-themes: Poverty, Education, Health, and Gender Equality. In doing so, the book reviews the theoretical channels, surveys existing empirical evidence - both cross-country and case study evidence, and provides new evidence. Financial Sector Development and the Millennium Development Goals finds that financial development is an important driver for economic welfare in that it reduces the prevalence of income poverty and undernourishment. In addition, new evidence is provided of a positive association between financial development and health, education, and gender equality.
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
The global recession has had a significant impact on economic performance and the outlook in Tanzania. Tanzanian banks were not directly affected by the global financial crisis, but second-round effects of the crisis have intensified the risks to the financial sector. Domestic liquidity tightened considerably at the onset of the global financial crisis but has since eased, owing to a significant loosening of monetary policy to help mitigate the economic downturn. The policy response of the authorities included a rescue package designed to support sectors affected by the crisis.
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.
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.
This toolkit is to offer a practical methodology to government officials and staff from development organizations on how to identify and assess laws and regulations that affect international trade and investment in the services sector.
A large theoretical and empirical literature has focused on the impact of financial deepening on economic growth throughout the world. This paper contributes to the literature by investigating whether this impact differs across regions, income levels, and types of economy. Using a rich dataset for 150 countries for the period 1975–2005, dynamic panel estimation results suggest that the beneficial effect of financial deepening on economic growth in fact displays measurable heterogeneity; it is generally smaller in oil exporting countries; in certain regions, such as the Middle East and North Africa (MENA); and in lower-income countries. Further analysis suggests that these differences might be driven by regulatory/supervisory characteristics and related to differences in the ability to provide widespread access to financial services.