Creating an Efficient Financial System : Challenges in a Global Economy

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dc.creatorBeck, Thorsten
dc.date2012-06-22T14:35:30Z
dc.date2012-06-22T14:35:30Z
dc.date2006-02
dc.date.accessioned2026-07-01T01:26:59Z
dc.descriptionFinancial sector development fosters economic growth and reduces poverty by widening and broadening access to finance and allocating society's savings more efficiently. The author first discusses three pillars on which sound and efficient financial systems are built: macroeconomic stability and effective and reliable contractual and informational frameworks. He then describes three different approaches to government involvement in the financial sector: the laissez-faire view, the market-failure view and the market-enabling view. Finally, the author analyzes the sequencing of financial sector reforms and discusses the benefits and challenges that emerging markets face when opening their financial systems to international capital markets.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2006/02/6606451/creating-efficient-financial-system-challenges-global-economy
dc.identifierhttps://hdl.handle.net/10986/8764
dc.identifierhttps://doi.org/10.1596/1813-9450-3856
dc.identifier.urihttp://hdl.handle.net/123456789/418191
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper; No. 3856
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectADVERSE SELECTION
dc.subjectAGENTS
dc.subjectAGRICULTURAL BANKS
dc.subjectAGRICULTURE
dc.subjectBANK FAILURE
dc.subjectBANK FAILURE RESOLUTION
dc.subjectBANK LOANS
dc.subjectBANK REGULATION
dc.subjectBANK RUNS
dc.subjectBANK SUPERVISION
dc.subjectBANKING CRISES
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBANKING SYSTEMS
dc.subjectBANKRUPTCY
dc.subjectBANKS
dc.subjectBOOMS
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL MARKETS
dc.subjectCAPITALIZATION
dc.subjectCENTRAL BANK
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVENESS
dc.subjectCONTRACT ENFORCEMENT
dc.subjectCORPORATE GOVERNANCE
dc.subjectCOUNTRY COMPARISONS
dc.subjectCOVERAGE
dc.subjectCREDIT MARKETS
dc.subjectCROSS-COUNTRY EXPERIENCE
dc.subjectCURRENCY CRISES
dc.subjectDEBT
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSIT INSURANCE SCHEMES
dc.subjectDEPOSITORS
dc.subjectDEPOSITS
dc.subjectDIVIDENDS
dc.subjectEARLY WARNING SYSTEM
dc.subjectECONOMIC GROWTH
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectEXPECTED RETURN
dc.subjectFACTORING
dc.subjectFINANCIAL CONTRACTS
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL FRAGILITY
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTEGRATION
dc.subjectFINANCIAL INTERMEDIARY DEVELOPMENT
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL LIBERALIZATION
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL REGULATION
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SECTOR DEVELOPMENT
dc.subjectFINANCIAL SECTOR REFORM
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL STRUCTURE
dc.subjectFINANCIAL SYSTEMS
dc.subjectFOREIGN BANKS
dc.subjectFREE ENTRY
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGOVERNMENT BANKS
dc.subjectGOVERNMENT INTERVENTION
dc.subjectHOUSING
dc.subjectHOUSING FINANCE
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFLATION RATES
dc.subjectINFORMATION COSTS
dc.subjectINSTITUTIONAL ENVIRONMENT
dc.subjectINSURANCE
dc.subjectINTERDEPENDENCE
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERVENTION POWERS
dc.subjectJUDICIAL SYSTEMS
dc.subjectLAWS
dc.subjectLEGAL SYSTEMS
dc.subjectLIBERALIZATION OF FINANCIAL MARKETS
dc.subjectLIQUIDATION
dc.subjectLIQUIDITY
dc.subjectLOOTING
dc.subjectM2
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET DISCIPLINE
dc.subjectMICROFINANCE
dc.subjectMORAL HAZARD
dc.subjectMORTGAGE LOANS
dc.subjectPOSITIVE EFFECTS
dc.subjectPRIVATE BANKS
dc.subjectPRIVATE PROPERTY
dc.subjectPRIVATIZATION
dc.subjectPRODUCTIVITY
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPROGRAMS
dc.subjectPROPERTY RIGHTS
dc.subjectREAL GDP
dc.subjectREGULATORY CAPTURE
dc.subjectRELATIONSHIP LENDING
dc.subjectRESOURCE ALLOCATION
dc.subjectRISK MANAGEMENT
dc.subjectRISK PREMIUMS
dc.subjectRISK TAKING
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSECURITIES MARKETS
dc.subjectSHAREHOLDERS
dc.subjectSMALL BUSINESS
dc.subjectSTOCK MARKETS
dc.subjectSUBORDINATED DEBT
dc.subjectSUPERVISORY FRAMEWORK
dc.subjectSYSTEMIC BANKING DISTRESS
dc.subjectTOTAL COSTS
dc.subjectTRADE BALANCE
dc.subjectTRANSACTION COSTS
dc.subjectTRANSPARENCY
dc.subjectVOLATILITY
dc.titleCreating an Efficient Financial System : Challenges in a Global Economy

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