Creating an Efficient Financial System : Challenges in a Global Economy

Beck, Thorsten

doi:10.1596/1813-9450-3856

Creating an Efficient Financial System : Challenges in a Global Economy

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collection.link.5	https://openknowledge.worldbank.org/handle/10986/9
collection.name.5	Policy Research Working Papers
dc.contributor.author	Beck, Thorsten
dc.date.accessioned	2012-06-22T14:35:30Z
dc.date.available	2012-06-22T14:35:30Z
dc.date.issued	2006-02
dc.date.lastModified	2021-04-23T14:02:40Z
dc.description.abstract	Financial 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.	en
dc.identifier	http://documents.worldbank.org/curated/en/2006/02/6606451/creating-efficient-financial-system-challenges-global-economy
dc.identifier.uri	http://hdl.handle.net/10986/8764
dc.language	English
dc.publisher	World Bank, Washington, DC
dc.relation.ispartofseries	Policy Research Working Paper; No. 3856
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	ACCOUNTABILITY
dc.subject	ACCOUNTING
dc.subject	ACCOUNTING STANDARDS
dc.subject	ADVERSE SELECTION
dc.subject	AGENTS
dc.subject	AGRICULTURAL BANKS
dc.subject	AGRICULTURE
dc.subject	BANK FAILURE
dc.subject	BANK FAILURE RESOLUTION
dc.subject	BANK LOANS
dc.subject	BANK REGULATION
dc.subject	BANK RUNS
dc.subject	BANK SUPERVISION
dc.subject	BANKING CRISES
dc.subject	BANKING SECTOR
dc.subject	BANKING SYSTEM
dc.subject	BANKING SYSTEMS
dc.subject	BANKRUPTCY
dc.subject	BANKS
dc.subject	BOOMS
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL MARKETS
dc.subject	CAPITALIZATION
dc.subject	CENTRAL BANK
dc.subject	COMMERCIAL BANKS
dc.subject	COMPARATIVE ADVANTAGE
dc.subject	COMPETITIVENESS
dc.subject	CONTRACT ENFORCEMENT
dc.subject	CORPORATE GOVERNANCE
dc.subject	COUNTRY COMPARISONS
dc.subject	COVERAGE
dc.subject	CREDIT MARKETS
dc.subject	CROSS-COUNTRY EXPERIENCE
dc.subject	CURRENCY CRISES
dc.subject	DEBT
dc.subject	DEPOSIT INSURANCE
dc.subject	DEPOSIT INSURANCE SCHEMES
dc.subject	DEPOSITORS
dc.subject	DEPOSITS
dc.subject	DIVIDENDS
dc.subject	EARLY WARNING SYSTEM
dc.subject	ECONOMIC GROWTH
dc.subject	EMERGING ECONOMIES
dc.subject	EMERGING MARKETS
dc.subject	EXPECTED RETURN
dc.subject	FACTORING
dc.subject	FINANCIAL CONTRACTS
dc.subject	FINANCIAL CRISES
dc.subject	FINANCIAL FRAGILITY
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INTEGRATION
dc.subject	FINANCIAL INTERMEDIARY DEVELOPMENT
dc.subject	FINANCIAL INTERMEDIATION
dc.subject	FINANCIAL LIBERALIZATION
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL REGULATION
dc.subject	FINANCIAL SECTOR
dc.subject	FINANCIAL SECTOR DEVELOPMENT
dc.subject	FINANCIAL SECTOR REFORM
dc.subject	FINANCIAL SERVICES
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCIAL STRUCTURE
dc.subject	FINANCIAL SYSTEMS
dc.subject	FOREIGN BANKS
dc.subject	FREE ENTRY
dc.subject	GDP
dc.subject	GDP PER CAPITA
dc.subject	GOVERNMENT BANKS
dc.subject	GOVERNMENT INTERVENTION
dc.subject	HOUSING
dc.subject	HOUSING FINANCE
dc.subject	INFLATION
dc.subject	INFLATION RATE
dc.subject	INFLATION RATES
dc.subject	INFORMATION COSTS
dc.subject	INSTITUTIONAL ENVIRONMENT
dc.subject	INSURANCE
dc.subject	INTERDEPENDENCE
dc.subject	INTEREST RATE
dc.subject	INTEREST RATES
dc.subject	INTERVENTION POWERS
dc.subject	JUDICIAL SYSTEMS
dc.subject	LAWS
dc.subject	LEGAL SYSTEMS
dc.subject	LIBERALIZATION OF FINANCIAL MARKETS
dc.subject	LIQUIDATION
dc.subject	LIQUIDITY
dc.subject	LOOTING
dc.subject	M2
dc.subject	MACROECONOMIC STABILITY
dc.subject	MARKET DISCIPLINE
dc.subject	MICROFINANCE
dc.subject	MORAL HAZARD
dc.subject	MORTGAGE LOANS
dc.subject	POSITIVE EFFECTS
dc.subject	PRIVATE BANKS
dc.subject	PRIVATE PROPERTY
dc.subject	PRIVATIZATION
dc.subject	PRODUCTIVITY
dc.subject	PRODUCTIVITY GROWTH
dc.subject	PROGRAMS
dc.subject	PROPERTY RIGHTS
dc.subject	REAL GDP
dc.subject	REGULATORY CAPTURE
dc.subject	RELATIONSHIP LENDING
dc.subject	RESOURCE ALLOCATION
dc.subject	RISK MANAGEMENT
dc.subject	RISK PREMIUMS
dc.subject	RISK TAKING
dc.subject	SAVINGS
dc.subject	SECURITIES
dc.subject	SECURITIES MARKETS
dc.subject	SHAREHOLDERS
dc.subject	SMALL BUSINESS
dc.subject	STOCK MARKETS
dc.subject	SUBORDINATED DEBT
dc.subject	SUPERVISORY FRAMEWORK
dc.subject	SYSTEMIC BANKING DISTRESS
dc.subject	TOTAL COSTS
dc.subject	TRADE BALANCE
dc.subject	TRANSACTION COSTS
dc.subject	TRANSPARENCY
dc.subject	VOLATILITY
dc.title	Creating an Efficient Financial System : Challenges in a Global Economy	en
okr.doctype	Publications & Research :: Policy Research Working Paper
okr.doctype	Publications & Research
okr.docurl	http://documents.worldbank.org/curated/en/2006/02/6606451/creating-efficient-financial-system-challenges-global-economy
okr.globalpractice	Macroeconomics and Fiscal Management
okr.globalpractice	Finance and Markets
okr.googlescholar.linkpresent	yes
okr.identifier.doi	10.1596/1813-9450-3856
okr.identifier.externaldocumentum	000016406_20060217165135
okr.identifier.internaldocumentum	6606451
okr.identifier.report	WPS3856
okr.language.supported	en
okr.pdfurl	http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/02/17/000016406_20060217165135/Rendered/PDF/wps3856.pdf	en
okr.topic	Economic Theory and Research
okr.topic	Finance and Financial Sector Development :: Financial Intermediation
okr.topic	Banks and Banking Reform
okr.topic	Insurance and Risk Mitigation
okr.topic	Financial Crisis Management and Restructuring
okr.topic	Macroeconomics and Economic Growth
okr.unit	Development Research Group (DECRG)
okr.volume	1 of 1

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