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  • 1
    Online Resource
    Online Resource
    The Process of Financial Development : A Statistical View From The FSAP Program (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ize, Alain The Process of Financial Development
    Keywords: Banks & Banking Reform ; Corporate governance ; Debt Markets ; Economic development ; Emerging Markets ; Finance and Financial Sector Development ; Financial development ; Financial system ; Financial systems ; Income level ; International bank ; Labor Policies ; Moral hazard ; Private Sector Development ; Property rights ; Social Protections and Labor ; Trading ; Banks & Banking Reform ; Corporate governance ; Debt Markets ; Economic development ; Emerging Markets ; Finance and Financial Sector Development ; Financial development ; Financial system ; Financial systems ; Income level ; International bank ; Labor Policies ; Moral hazard ; Private Sector Development ; Property rights ; Social Protections and Labor ; Trading ; Banks & Banking Reform ; Corporate governance ; Debt Markets ; Economic development ; Emerging Markets ; Finance and Financial Sector Development ; Financial development ; Financial system ; Financial systems ; Income level ; International bank ; Labor Policies ; Moral hazard ; Private Sector Development ; Property rights ; Social Protections and Labor ; Trading
    Abstract: This paper uses a simple statistical approach to exploit some of the wealth of information contained in FSAP reports. The authors classify and count FSAP recommendations along a logical grid that reflects the fabric of financial activity and the ways in which states organize their policies in support of financial development. With some caveats reflecting the inherent limitations of the exercise, this analysis provides a simple monitoring tool to help understand the nature and evolution of the FSAP program. At the same time, it throws light on the nuts and bolts of the process of financial development and its inter-linkages with economic development. While many of the findings conform well to what one would expect, others are more surprising and also potentially more useful for understanding the inner workings of financial development
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    America Latina y el ascenso del Sur : Nuevas prioridades en un mundo cambiante (2015)
    Washington, D.C : The World Bank
    Details
    ISBN: 9781464803567
    Language: Spanish
    Pages: Online-Ressource (1 online resource (256 p.))
    Edition: Online-Ausg.
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Spanish translation ; FDI ; Foreign direct investment ; Domestic savings ; Financial integration
    Abstract: Este reporte explora la restructuracion de la economia global ocasionada por el ascenso del Sur y destaca la transformacion en los patrones de integracion global de ALC y las consecuencias de esta transformacion en la dinamica del desarrollo de la region. En particular, se analiza de forma sistematica los aspectos concernientes al comercio y las finanzas internacionales, la macroeconomia y el mercado laboral latinoamericano
    Note: Description based on print version record
    DOI: 10.1596/978-1-4648-0431-1
    URL: Volltext  (Deutschlandweit zugänglich)
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    Online Resource
    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Containing systemic risk : Paradigm-based perspectives on regulatory reform (2011)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (28 p)
    Edition: 2011 World Bank eLibrary
    Parallel Title: De la Torre, Augusto Containing systemic risk
    Abstract: Financial crises can happen for a variety of reasons: (a) nobody really understands what is going on (the collective cognition paradigm); (b) some understand better than others and take advantage of their knowledge (the asymmetric information paradigm); (c) everybody understands, but crises are a natural part of the financial landscape (the costly enforcement paradigm); or (d) everybody understands, yet no one acts because private and social interests do not coincide (the collective action paradigm). The four paradigms have different and often conflicting prudential policy implications. This paper proposes and discusses three sets of reforms that would give due weight to the insights from the collective action and collective cognition paradigms by redrawing the regulatory perimeter to internalize systemic risk without promoting dynamic regulatory arbitrage; introducing a truly systemic liquidity regulation that moves away from a purely idiosyncratic focus on maturity mismatches; and building up the supervisory function while avoiding the pitfalls of expanded official oversight
    DOI: 10.1596/1813-9450-5523
    URL: Volltext  (Deutschlandweit zugänglich)
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    Online Resource
    MPI Ethno. Forsch.
  • 4
    Online Resource
    Online Resource
    Risk Absorption by the State : When is It Good Public Policy? (2011)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (31 p)
    Edition: 2011 World Bank eLibrary
    Parallel Title: Anginer, Deniz Risk Absorption by the State
    Abstract: The global financial crisis brought public guarantees to the forefront of the policy debate. Based on a review of the theoretical foundations of public guarantees, this paper concludes that the commonly used justifications for public guarantees based solely on agency frictions (such as adverse selection or lack of collateral) and/or un-internalized externalities are flawed. When risk is idiosyncratic, it is highly unlikely that a case for guarantees can be made without risk aversion. When risk aversion is explicitly added to the picture, public guarantees may be justified by the state's natural advantage in dealing with collective action failures (providing public goods). The state can spread risk more finely across space and time because it can coordinate and pool atomistic agents that would otherwise not organize themselves to solve monitoring or commitment problems. Public guarantees may be transitory, until financial systems mature, or permanent, when risk is fat-tailed. In the case of aggregate (non-diversifiable) risk, permanent public guarantees may also be justified, but in this case the state adds value not by spreading risk but by coordinating agents. In addition to greater transparency in justifying public guarantees, the analysis calls for exploiting the natural complementarities between the state and the markets in bearing risk
    DOI: 10.1596/1813-9450-5893
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 5
    Online Resource
    Online Resource
    Latin America's Growth : Looking through the Demand Glass (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (76 pages)
    Parallel Title: Erscheint auch als de la Torre, Augusto Latin America's Growth: Looking through the Demand Glass
    Keywords: Commodities ; Commodity Dependence ; Consumption ; Convergence ; Export Diversification ; Growth ; Import Substituting Industrialization ; Macroeconomics and Economic Growth ; Natural Resource Curse ; Natural Resource Wealth ; Paradox of Plenty ; Urban Development
    Abstract: This paper revisits the historical roots of Latin America's disappointing growth using a novel macro and trade-based growth decomposition and a simple model of industrialization in a commodities-exporting country with a large informal sector. The approach suggests the need to better qualify two opposite narratives: that the post-1982 ("neoliberal") reforms have failed, and it is time to look back to the import substitution industrialization era for policy inspiration; and that the post-1982 reforms went in the right direction but must be completed to unleash significant productivity gains. Both can be misleading because they downplay the role of demand. The apparent "miracle" of import substitution industrialization does not provide a realistic point of comparison because it reflected an unsustainable, demand-induced boost in productivity. And the gains expected from Washington Consensus-style reforms alone can be overstated because they are derived from overly restrictive assumptions on demand. By allowing demand to play a more central role, the paper finds a close and revealing relationship between the growth patterns followed by Latin American countries, the quality of their macroeconomic policies, the nature of their trade, and the segmentation of their labor markets. Going forward, the policy agenda calls for an outwardly oriented growth strategy, supported by a more proactive role for the state that promotes not only efficiency in supply, but also the appeal to demand
    DOI: 10.1596/1813-9450-10227
    URL: lizenzpflichtig
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    Online Resource
    MPI Ethno. Forsch.
  • 6
    Online Resource
    Online Resource
    Dollarization of the banking system : good or bad? (2003)
    Washington, D.C : World Bank
    Details
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 3116
    Parallel Title: Honohan, Patrick Dollarization of the banking system
    Keywords: Banks and banking Case studies ; Business cycles Case studies ; Dollar, American Case studies ; Dollarization Case studies ; Banks and banking Case studies ; Business cycles Case studies ; Dollar, American Case studies ; Dollarization Case studies
    Note: "August 6, 2003 , Includes bibliographical references , Title from title screen as viewed on August 6, 2003 , Also available in print.
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 7
    Online Resource
    Online Resource
    Should Latin America Save More to Grow Faster? (2015)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (63 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als de la Torre, Augusto Should Latin America Save More to Grow Faster?
    Abstract: Latin America's historically low saving rates and sub-par growth performance raise the question of whether the region should save more to grow faster. Economists generally resist acknowledging a policy-exploitable causal connection going from saving to growth because domestic saving is perceived to be fully endogenous, optimally determined, or fully substitutable by foreign saving. However, to the extent that these three assumptions do not hold, three channels can be established through which higher domestic saving-by curbing persistent current account deficits-can promote medium-term growth. The channels are first, a real interest rate channel, whereby higher saving reduces the cost of capital and enhances macro sustainability; second, a real exchange rate channel, through which higher saving leads to a more competitive real exchange rate; and third, an endogenous saving channel, whereby saving follows growth and, hence, subsequently compounds the effect of the first two channels. Econometric evidence supports all three channels and suggests that the lower-saving countries in Latin America and the Caribbean, especially those with recurrently weak balance of payments and persistent domestic demand pressures on the non-tradable sector, would benefit the most from boosting their saving rates
    DOI: 10.1596/1813-9450-7386
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 8
    Online Resource
    Online Resource
    Financial dollarization : the policy agenda (2006)
    Basingstoke [England] : Palgrave Macmillan
    Details
    ISBN: 9780230380257
    Language: English
    Pages: Online-Ressource
    Series Statement: Procyclicality of Financial Systems in Asia
    Parallel Title: Erscheint auch als
    Parallel Title: Erscheint auch als
    Parallel Title: Erscheint auch als
    Keywords: Monetary policy ; Currency question ; Business enterprises—Finance. ; Macroeconomics. ; Development economics. ; Finance. ; Developing countries Economic policy
    Abstract: This volume provides a rigorous and balanced perspective on the causes and implications of dollarization, and the basic policies and options to deal with it: the adaptation of the monetary and prudential frameworks, the development of local-currency substitutes, and the scope for limiting dollarization through administrative restrictions.
    Note: Includes bibliographical references and index
    DOI: 10.1057/9780230380257
    URL: Volltext
    URL: Deutschlandweit zugänglich
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    Online Resource
    BSZ
    MPI Ethno. Forsch.
  • 9
    Online Resource
    Online Resource
    Latin American growth : a trade perspective (2019)
    Washington, DC, USA : World Bank Group, Finance, Competitiveness and Innovation Global Practice
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 48 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8871
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als De La Torre, Augusto Latin American Growth: A Trade Perspective
    Keywords: Graue Literatur
    Abstract: This paper reviews the determinants of Latin America's uneven growth based on an accounting decomposition that breaks down countries' growth (relative to the world) into three trade-related channels: (i) an export pull measuring the traction exerted by the country's exports, (ii) an external leverage measuring the impact of the country's use of external resources, and (iii) a domestic response measuring the impact of the country's imports on its domestic income. This decomposition brings to light three regional growth dynamics: the first is centered on commodities and South America, the second on manufactures and Mexico, and the third on services and Central America. The evidence points toward the need for a trade-oriented growth agenda that puts a premium on raising exports and making countries more attractive to people, not just capital. The latter in turn adds urgency to healing the region's social fractures and dealing with its institutional weaknesses
    DOI: 10.1596/1813-9450-8871
    URL: Volltext  (lizenzpflichtig)
    URL: Deutschlandweit zugänglich
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  • 10
    Online Resource
    Online Resource
    The Foundations of Macroprudential Regulation : A Conceptual Roadmap (2013)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (58 p)
    Edition: 2013 World Bank eLibrary
    Parallel Title: De la Torre, Augusto The Foundations of Macroprudential Regulation
    Abstract: This paper examines the conceptual foundations of macroprudential policy by reviewing the literature on financial frictions from a policy perspective that systematically links state interventions to market failures. The method consists in gradually incorporating into the Arrow-Debreu world a variety of frictions and sources of aggregate volatility and combining them along three basic dimensions: purely idiosyncratic vs. aggregate volatility, full vs. bounded rationality, and internalized vs. uninternalized externalities. The analysis thereby obtains eight "domains," four of which include aggregate volatility, hence call for macroprudential policy variants grounded on largely orthogonal rationales. Two of them emerge even assuming that externalities are internalized: one aims at offsetting the public moral hazard implications of (efficient but time inconsistent) post-crisis policy interventions, the other at maintaining principal-agent incentives continuously aligned along the cycle. Allowing for uninternalized externalities justifies two additional types of macroprudential policy, one aimed at aligning private and social interests, the other at tempering mood swings. Choosing a proper regulatory path is complicated by the fact that the relevance of frictions is likely to be state-dependent and that different frictions motivate different (and often conflicting) policies
    DOI: 10.1596/1813-9450-6575
    URL: Volltext  (Deutschlandweit zugänglich)
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