Publication:
Finance for Growth : Policy Choices in a Volatile World

dc.contributor.author World Bank
dc.date.accessioned 2013-06-13T15:03:26Z
dc.date.available 2013-06-13T15:03:26Z
dc.date.issued 2001-04
dc.description.abstract The overall impact of financial globalization on the domestic financial sector is profound. Liberalization of capital flows has effectively made domestic financial repression obsolete. The consequences have not been uniformly favorable. Following liberalization, domestic interest rates in developing countries have moved to a premium over industrial country rates, and can surge at times of currency speculation. Heightened interest rate and exchange rate volatility pose practical risk management difficulties for financial intermediaries and reinforce the need for appropriate infrastructures and incentives for risk containment, as well as for good macropolicies. On the other hand, the cost of equity capital has been reduced by allowing foreign investor access to local equity markets and allowing local firms to list abroad. Increased international flows through the equity markets have not been the major contributor to increased international sources of volatility. In addition to opening access to foreign-sourced financial services, more and more countries have been permitting foreign-owned banks and other financial firms to operate locally. Although this can represent a threat to domestic owners of financial firms, the drawback is outweighed by improved service quality. On all three fronts--debt, equity, and services--the costs and risks as well as the benefits of increased financial globalization. knowledges en
dc.identifier http://documents.worldbank.org/curated/en/2001/04/1121242/finance-growth-policy-choices-volatile-world
dc.identifier.isbn 0-19-521605-9
dc.identifier.uri http://hdl.handle.net/10986/13895
dc.language English
dc.language.iso en_US
dc.publisher Washington, DC: World Bank and Oxford University Press
dc.relation.ispartofseries A World Bank Policy Research Report
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 ADVERSE SELECTION
dc.subject ASSET MANAGEMENT
dc.subject ASSET PRICES
dc.subject ASSOCIATED COMPANIES
dc.subject BALANCE SHEET
dc.subject BANK DEPOSITS
dc.subject BANK FAILURES
dc.subject BANK LENDING
dc.subject BANK PERFORMANCE
dc.subject BANK PRIVATIZATION
dc.subject BANK REGULATION
dc.subject BANK RUNS
dc.subject BANKING CRISES
dc.subject BANKING SYSTEMS
dc.subject BANKS
dc.subject BORROWING
dc.subject CAPITAL ACCUMULATION
dc.subject CAPITAL FLOWS
dc.subject CAPITAL FORMATION
dc.subject CAPITALIZATION
dc.subject COMPARATIVE ADVANTAGE
dc.subject CONTRACTUAL SAVINGS INSTITUTIONS
dc.subject DEBT
dc.subject DEPOSIT INSURANCE
dc.subject DEPOSIT INSURANCE COVERAGE
dc.subject DEPOSITS
dc.subject ECONOMETRIC EVIDENCE
dc.subject ECONOMIC DEVELOPMENT
dc.subject ECONOMIC GROWTH
dc.subject ECONOMIC SECTORS
dc.subject EMERGING MARKETS
dc.subject EMPIRICAL EVIDENCE
dc.subject EMPIRICAL RESEARCH
dc.subject EQUITY MARKETS
dc.subject EXCHANGE RATES
dc.subject FACTORING
dc.subject FINANCIAL CONTRACTS
dc.subject FINANCIAL CRISES
dc.subject FINANCIAL DEREGULATION
dc.subject FINANCIAL INSTITUTIONS
dc.subject FINANCIAL INTERMEDIARIES
dc.subject FINANCIAL MARKETS
dc.subject FINANCIAL SECTOR
dc.subject FINANCIAL SERVICES
dc.subject FINANCIAL STABILITY
dc.subject FINANCIAL STRUCTURE
dc.subject FINANCIAL STRUCTURES
dc.subject FINANCIAL SYSTEMS
dc.subject FINANCIAL TRANSACTIONS
dc.subject FIXED COSTS
dc.subject FOREIGN COMPETITION
dc.subject FREE TRADE
dc.subject GDP
dc.subject GDP PER CAPITA
dc.subject GLOBALIZATION
dc.subject GNP
dc.subject GROSS DOMESTIC PRODUCT
dc.subject GROSS NATIONAL PRODUCT
dc.subject HUMAN CAPITAL
dc.subject INCENTIVE PROBLEMS
dc.subject INCOME
dc.subject INDUSTRIAL ECONOMIES
dc.subject INFLATION
dc.subject INFORMATION PROBLEMS
dc.subject INSURANCE SYSTEMS
dc.subject INTEREST RATES
dc.subject IPO
dc.subject LAWS
dc.subject LIFE INSURANCE
dc.subject LIVING STANDARDS
dc.subject M2
dc.subject MACROECONOMIC POLICY
dc.subject MACROECONOMIC STABILITY
dc.subject MARKET LIBERALIZATION
dc.subject MARKET POWER
dc.subject MARKET VALUE
dc.subject MICROFINANCE
dc.subject MORAL HAZARD
dc.subject MUTUAL FUNDS
dc.subject NAFTA
dc.subject NARROW BANKING
dc.subject NATIONAL ECONOMIES
dc.subject NET WORTH
dc.subject NONPERFORMING LOANS
dc.subject OPEN MARKETS
dc.subject OVERHEAD COSTS
dc.subject PENSIONS
dc.subject PER CAPITA INCOME
dc.subject POLICY DECISIONS
dc.subject POLICY ENVIRONMENT
dc.subject POLICY RESEARCH
dc.subject POLITICAL ECONOMY
dc.subject PRICE FLUCTUATIONS
dc.subject PRODUCTIVITY
dc.subject PROPERTY RIGHTS
dc.subject PUBLIC DEBT
dc.subject PURCHASING POWER
dc.subject REGULATORY FORBEARANCE
dc.subject RISK MANAGEMENT
dc.subject SAFETY NETS
dc.subject SAVINGS
dc.subject SECURITIES
dc.subject SECURITIES MARKETS
dc.subject SMALL BANKS
dc.subject SOCIAL CAPITAL
dc.subject STATE BANKS
dc.subject STATISTICAL DATA
dc.subject STOCK MARKETS
dc.subject SUBORDINATED DEBT
dc.subject SUBSIDIARY
dc.subject SUBSTANDARD LOANS
dc.subject TOTAL FACTOR PRODUCTIVITY
dc.subject VENTURE CAPITAL
dc.subject WEALTH
dc.subject ACCOUNTING
dc.subject POLICY MAKING
dc.subject FINANCIAL & PRIVATE SECTOR DEVELOPMENT
dc.subject GOVERNMENT FINANCE
dc.subject BANK REGULATION
dc.subject FINANCIAL SERVICES
dc.subject CAPITAL ACCOUNT
dc.subject FINANCIAL LIBERALIZATION
dc.subject EQUITY MARKETS
dc.subject DEBT FLOWS
dc.subject INTEREST RATES
dc.subject EXCHANGE RATES
dc.subject CAPITAL INTENSITY
dc.subject PRODUCTIVITY
dc.subject INTERMEDIATION
dc.subject GLOBALIZATION
dc.subject COST-BENEFIT ANALYSIS
dc.title Finance for Growth : Policy Choices in a Volatile World en
dspace.entity.type Publication
okr.doctype Publications & Research :: Publication
okr.doctype Publications & Research :: Publication
okr.docurl http://documents.worldbank.org/curated/en/2001/04/1121242/finance-growth-policy-choices-volatile-world
okr.globalpractice Finance and Markets
okr.identifier.doi 10.1596/0-1952-1605-9
okr.identifier.externaldocumentum 000094946_01052404084811
okr.identifier.internaldocumentum 1121242
okr.identifier.report 22239
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2001/06/08/000094946_01052404084811/Rendered/PDF/multi0page.pdf en
okr.peerreview Academic Peer Review
okr.sector Finance
okr.topic Economic Theory and Research
okr.topic Banks and Banking Reform
okr.topic Finance and Financial Sector Development :: Financial Intermediation
okr.topic Environmental Economics and Policies
okr.topic Health Economics and Finance
okr.unit Off of Sr VP Dev Econ/Chief Econ (DECVP)
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