Publication:
World Development Report 1989: Financial Systems and Development

dc.contributor.author World Bank
dc.date.accessioned 2012-04-06T19:45:20Z
dc.date.available 2012-04-06T19:45:20Z
dc.date.issued 1989
dc.description.abstract This is the twelfth in the annual series assessing major development issues. Economic growth rates among the developing countries have varied considerably. The external environment has had an adverse impact on growth, but domestic policies have been more important. Countries striving to adjust their economies have had considerable success reducing external imbalances but less success with internal balance. In the absence of large inflows of foreign capital, countries will need to rely on the mobilization of domestic financial resources. The structure of a country's financial system reflects its economic philosophy; the present financial structure of many developing countries reflects their approach to development in the 1960s and 1970s, an approach that emphasized government intervention in the economy. Today many countries are revising their approach to rely more heavily on the private sector. For the financial sector, this implies a smaller role for government in the allocation of credit, determination of interest rates, and the daily decisionmaking of financial intermediation. Relaxation of these controls calls for an effective system of prudent regulation and supervision. Hence while the objective is an open market, countries should not remove all capital controls until other economic and financial reforms are in place. en
dc.identifier.isbn 0-19-520788-2
dc.identifier.isbn 978-0-19-520788-0
dc.identifier.issn 0163-5085
dc.identifier.uri http://hdl.handle.net/10986/5972
dc.language English
dc.publisher New York: Oxford University Press
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo
dc.subject accounting
dc.subject capital inflows
dc.subject developing countries
dc.subject economic development
dc.subject financial structure
dc.subject financial systems
dc.subject foreign capital
dc.subject government intervention
dc.subject interest rates
dc.subject International Bank
dc.title World Development Report 1989 en
dc.title.subtitle Financial Systems and Development en
dspace.entity.type Publication
okr.crosscuttingsolutionarea Public-Private Partnerships
okr.globalpractice Macroeconomics and Fiscal Management
okr.globalpractice Finance and Markets
okr.identifier.doi 10.1596/0-1952-0788-2
okr.language.supported en
okr.peerreview Academic Peer Review
okr.topic Finance and Financial Sector Development
okr.topic Private Sector Development
okr.topic Macroeconomics and Economic Growth
okr.volume 1 of 1
relation.isSeriesOfPublication 47018b9f-dbfb-4ab1-a531-6a598c79a597
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