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  • Beck, Thorsten  (14)
  • International Finance Corporation  (11)
  • Washington, D.C : The World Bank  (25)
  • Bielefeld : transcript
  • Wiesbaden : Springer Fachmedien Wiesbaden
  • Finance and Financial Sector Development  (25)
  • Migration
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  • 1
    Online Resource
    Online Resource
    Blended Finance for Climate Investments in India (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Environmental Expenditure Review
    Keywords: Access To Finance ; Adaptation To Climate Change ; Blended Concessional Finance ; Clean Energy ; Climate Investments ; Climate-Smart Agriculture ; Environment ; Finance and Financial Sector Development ; Green Housing ; Solar Power ; Waste-To-Energy
    Abstract: The document collection focuses on the concept of blended finance for climate investments, emphasizing the need for innovative financial mechanisms to address climate change. It discusses the potential of blending public and private capital to mobilize investment in climate-related projects, aiming to achieve both environmental and financial returns. The collection explores various models and case studies to demonstrate the effectiveness of blended finance in driving sustainable development and combating climate change on a global scale
    DOI: 10.1596/41194
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Banking in Africa : Opportunities and Challenges in Volatile Times (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (59 pages)
    Parallel Title: Erscheint auch als Beck, Thorsten Banking in Africa: Opportunities and Challenges in Volatile Times
    Keywords: Access To Finance ; Banking ; Banking Systems ; Finance and Financial Sector Development ; Financial Cycles ; Financial Inclusion ; Financial Innovation ; Financial Stability ; Social Development ; Social Inclusion and Institutions
    Abstract: This paper surveys existing literature and data to take stock of the current state of banking systems across Sub-Saharan Africa. It documents different dimensions of the development of the banking systems in the region and compares Africa's banking systems to those of comparable low- and lower-middle-income countries outside the region. The paper also discusses the progress in policies and institutions underpinning financial deepening and the results of specific innovations to reach traditionally unbanked segments of the population, such as innovative branch expansion programs, mobile banking, and new financial products. In view of the COVID-19 pandemic, the paper discusses government support for financial systems and banking sector performance during crises. Overall, the survey shows a picture of achievements and challenges, with progress along some fronts but other challenges persisting even as new ones arise, including the turning of the global financial cycle in 2022/23 and increasing geopolitical tensions
    DOI: 10.1596/1813-9450-10632
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Building Green : Sustainable Construction in Emerging Markets (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2201
    Keywords: Access To Finance ; Adaptation To Climate Change ; Carbon Emission Reduction ; City Development Strategies ; Climate Change Adaptation ; Climate Change Mitigation and Green House Gases ; Construction Materials ; Decarbonization ; Developing Countries ; Emerging Markets ; Environment ; Finance and Financial Sector Development ; Sustainable Construction ; Urban Development
    Abstract: How developing countries meet their rising building needs will be pivotal to the world's climate future. The good news is that the projected emissions growth in construction value chains can be reduced significantly with the application of existing technologies, new financing instruments, and the implementation of appropriate policies. Even as emerging economies meet the rising demand for residential and commercial buildings, it is possible to reduce total emissions from the sector below today's level by 2035. To avoid perpetuating the status quo, decisive action is needed by policy makers, developers, construction material producers, financiers, and international development institutions. IFC is launching this report to guide international efforts to decarbonize construction value chains. Building Green: Sustainable Construction in Emerging Markets was prepared through close collaboration between IFC economists, investment officers, and building and constructionsector specialists. The report provides a comprehensive analysis of the challenges of reducing carbon emissions from construction value chains in developing countries, but also the considerable opportunities that willcome from mobilizing the estimated USD 1.5 trillion of investment required for this transition
    DOI: 10.1596/40561
    URL: Deutschlandweit zugänglich
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  • 4
    Online Resource
    Online Resource
    Building a Better Future : IFC Annual Report 2023 Financials (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2128
    Keywords: Education Reform and Management ; Finance and Financial Sector Development ; Financial Data ; Financial Results ; Global Outlook ; IFC ; Information Technology
    Abstract: This Management's Discussion and Analysis (MD and A) discusses the financial results of the International Finance Corporation (IFC or the Corporation) for the fiscal year ended June 30, 2023 (FY23). The MD and A contains forward looking statements which may be identified by such terms as "anticipates," "believes," "expects," "intends," "plans", "aims" or words of similar meaning. Such statements involve a number of assumptions and estimates that are based on current expectations, which are subject to risks and uncertainties beyond IFC's control. Consequently, actual future results could differ materially from those currently anticipated. IFC undertakes no obligation to update any forward-looking statements. Certain reclassifications of prior years' information have been made to conform with the current year's presentation
    DOI: 10.1596/40507
    URL: Deutschlandweit zugänglich
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  • 5
    Online Resource
    Online Resource
    IFC Annual Report 2023 : Building a Better Future (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2128
    Keywords: Energy Access ; Environment ; Finance and Development ; Finance and Financial Sector Development ; Innovation ; Public-Private Partnerships ; Science and Technology Development ; Technology ; Trade Finance
    Abstract: IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets and developing economies. We work in more than 100 countries, using our capital, mobilization capacity, expertise, and influence to create jobs and raise living standards, especially for the poor and vulnerable. In fiscal year 2023, IFC committed a record 43.7 billion dollars to private companies and financial institutions in developing countries, leveraging the power of the private sector to improve people's lives as economies grapple with the impacts of global compounding crises
    DOI: 10.1596/40506
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 6
    Online Resource
    Online Resource
    Handbook for Scaling Irrigation Systems (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Agricultural Study
    Keywords: Access To Finance ; Agricultural Irrigation and Drainage ; Agriculture ; Asset Management ; Finance and Financial Sector Development ; Financial Structures
    Abstract: The demand for more efficient use of land and water resources to enable farmers to produce food using climate-resilient processes continues to grow in the face of a growing global population and the impacts of climate change and other shocks such as Coronavirus (COVID-19). Although irrigation has been widely promoted as important for productivity and resilience, it has not been sufficiently expanded. Large, well-established irrigation projects developed by public institutions and select private sector projects play an important role in providing access to irrigation, but they are insufficient to meet need. In parallel, farmers have been developing effective small-scale irrigation (SSI) options that include a range of technologies, financing methods, and operating models. International Finance Corporation (IFC) and the International Fund for Agricultural Development (IFAD) are global organizations focused on promoting resilient agriculture and food system transformation. This handbook takes a practical approach in guiding its target readers, which comprise policy makers, governments and government agencies, private sector actors, and development institution partners, on how to deliver effective design and operation strategies, combined with financing models, to implement and sustainably expand use of irrigation
    DOI: 10.1596/38336
    URL: lizenzpflichtig
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  • 7
    Online Resource
    Online Resource
    Creating Markets In Namibia : Creating Resilient and Inclusive Markets - Country Private Sector Diagnostic (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Private Sector Development, Privatization, and Industrial Policy
    Keywords: Agribusiness ; Agriculture ; Energy ; Finance and Financial Sector Development ; Housing Finance ; Private Investment ; Private Sector ; Private Sector Development ; Private Sector Economics ; Renewable Energy
    Abstract: Since achieving independence in 1990, Namibia's remarkable growth has been fueled by foreign direct investment and enabled by prudent economic management. Since 2016, however, growth has declined steadily and the economy fell into recession, exposing the vulnerability of Namibia's economic growth model to external and climate shocks. These challenges were exacerbated by the Coronavirus (COVID-19) pandemic, an economic slowdown in neighboring South Africa, worsening terms of trade on the back of declining global demand and commodity prices, a decline in Southern African Customs Union (SACU) revenues, and the effects of crippling droughts on agricultural and industrial production. Namibia has very high levels of poverty and inequality, which are largely driven by high levels of unemployment. The primary objective of this Country Private Sector Diagnostic (CPSD) is to identify near and medium-term reform opportunities to revitalize the private sector and help reposition Namibia's growth on a green, resilient, and inclusive trajectory. This CPSD explores priority reform opportunities to address five cross-cutting bottlenecks: (1) enhancing the role and performance of the state-owned enterprise (SOE) sector through a more effective competition policy environment; (2) strengthening implementation of the public-private partnership (PPP) framework to expand private investments, especially in infrastructure; (3) leveraging the potential for digital transformation of the economy; (4) addressing inefficiencies in logistics and trade facilitation; and (5) tapping opportunities in the water sector for green and resilient growth. The diagnostic then looks in depth at three sectors prioritized by the Namibian government - renewable energy, climate-smart agribusiness, and housing, and provides recommendations for reducing sector-specific bottlenecks to stimulate growth potential
    DOI: 10.1596/38334
    URL: lizenzpflichtig
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  • 8
    Online Resource
    Online Resource
    Using Blended Concessional Finance to Invest in Challenging Markets : Economic Considerations, Transparency, Governance, and Lessons of Experience (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Finance and Development ; Finance and Financial Sector Development ; Non Bank Financial Institutions ; Private Investment ; Transparency
    Abstract: Blended concessional finance is the combination of concessional funds from development partners with commercial finance from development finance institutions (DFIs) and private sources. These resources can be used strategically to help mitigate risk in challenging emerging markets and attract private investment where it otherwise would not go. It can be an important source of finance to help reach the Sustainable Development Goals (SDGs) and address the economic challenges brought on by Coronavirus (COVID-19). This report examines IFC's two decades of experience supporting pioneering projects with blended concessional finance. The report addresses issues such as why and when concessional finance is appropriate to support private sector projects; the key transparency, access, and governance processes required to implement projects efficiently and effectively; the principles for selecting and structuring projects; how to use blended concessional finance to invest in lower-income countries; and the different ways of structuring concessional finance facilities used by DFIs
    DOI: 10.1596/36262
    URL: Deutschlandweit zugänglich
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  • 9
    Online Resource
    Online Resource
    Investing for Impact : The Global Impact Investing Market 2020 (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Capital Markets and Capital Flows ; Corporate Social Responsibility ; Environment ; Finance and Financial Sector Development ; Green Issues ; International Financial Markets ; Mutual Funds ; Non Bank Financial Institutions ; Private Sector Development ; Social Accountability ; Social Development
    Abstract: Impact investing has seen a boost in popularity during the COVID-19 (coronavirus) pandemic due to increased awareness of climate change and social challenges such as unequal access to healthcare and racial and gender inequality. In 2020, the market saw an increasing level of maturity compared to 2019 with more assets being invested with identifiable impact management systems. This report covers impact investments by privately owned funds and institutions, and by publicly owned development finance institutions and development banks. It includes all investments with an intent for impact and identifies a core which have impact management systems to provide a credible contribution to impact and measurement of impact. Intent, contribution and measurement are the key attributes which differentiate impact investing from other forms of sustainable or responsible investing. In total, the report identifies a total of 2.3 trillion Dollars being invested for impact in 2020. This is equivalent to about 2 percent of global AUM. Impact investing remains a small market niche, but one that is attracting growing interest. Additionally, the report shares findings on broader trends relating to investing for impact, including opportunities in publicly traded assets. IFC's report is the most comprehensive assessment so far of the size of the global impact investing market. Findings from the report are based on publicly available information and verifiable data from selected proprietary databases
    DOI: 10.1596/36263
    URL: Deutschlandweit zugänglich
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  • 10
    Online Resource
    Online Resource
    Leading Tanzanian Women in Financial Services : An Examination of Gender Equality in Tanzania's Financial Services Sector (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Women in Development and Gender Study
    Keywords: Employment ; Finance and Development ; Finance and Financial Sector Development ; Gender
    Abstract: There is a strong business and economic case for increasing women's representation in companies' leadership, globally, and especially in Africa. In 2019, the International Labor Organization (ILO) conducted a worldwide survey on the impact of gender diversity initiatives on 13,000 enterprises. In the study, ILO found that approximately 90 percent of companies track the quantitative impact of gender diversity initiatives around promoting women in management, and of those nearly 74 percent saw an increase in profits of between 5 and 20 percent. Given how critical the financial services sector is to economic growth, to help accelerate its progress, International Finance Corporation (IFC) launched several initiatives to better understand the opportunities and constraints to increasing the recruitment, retention, and promotion of women. In Tanzania, for example, IFC's finance2equal gender program is working in partnership with a selection of companies to reduce gender gaps in the financial services sector through research, peer learning, and firm-level support. Under this initiative, the study summarized in this report investigates gaps in workplace policies and practices as well as differences in the roles of women and men and makes recommendations to reduce gender gaps
    DOI: 10.1596/37848
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  • 11
    Online Resource
    Online Resource
    Gender Equality in Nigeria's Private Sector : A Gender Gap Assessment of the 30 Most Capitalized Companies Listed on the Nigerian Exchange (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Women in Development and Gender Study
    Keywords: Access To Finance ; Finance and Financial Sector Development ; Gender ; Gender and Economic Policy ; Gender Monitoring and Evaluation ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: Nigeria is the largest economy in Africa, and it is projected to have the fifth largest population in the world by 2026. The gender gap is particularly acute in Nigeria, and three market failures stand out: (1) a persistent gender gap at the company leadership level; (2) lack of access to finance for women who want to start a business; and (3) women's limited access to markets through supply chains and procurement opportunities. The International Finance Corporation (IFC) and Nigerian Exchange Limited (NGX) have joined forces to rally some of the largest Nigerian companies to increase women's participation in private sector development. Through the Nigeria2Equal initiative, IFC is working with the chief executive officers (CEOs) of companies listed on NGX that are committed to implementing gender-smart solutions to reduce gender gaps across leadership, employment, and entrepreneurship. Through the Nigeria2Equal initiative, IFC is working with the chief executive officers (CEOs) of companies listed on NGX that are committed to implementing gender-smart solutions to reduce gender gaps across leadership, employment, and entrepreneurship. By conducting market research and publishing studies such as this report, IFC is establishing the business case for the private sector to invest in women in Nigeria, and are helping companies to identify gaps and constraints, and invest in reducing those gaps
    DOI: 10.1596/37860
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  • 12
    Online Resource
    Online Resource
    She Matters : Women in Kazakhstan Corporate Leadership (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Women in Development and Gender Study
    Keywords: Finance and Development ; Finance and Financial Sector Development ; Gender ; Gender and Economics
    Abstract: This report makes a case for greater gender diversity on Kazakhstan corporate boards (including the board of directors and management board). Empirical evidence from around the world shows the importance and value of gender diversity in improving firms' overall performance, including but not limited to financial performance. Gender diversity among business leaders typically leads to balanced decision-making processes, better monitoring and strategy involvement, and greater attention to environmental, social, and governance (ESG) issues to foster sustainability. This report analyzes the relationship between board gender diversity (defined as having at least 30 percent women on the board of directors) and the financial performance of Kazakhstan joint-stock companies (JSCs). For this purpose, a series of financial and gender indicators were collected from the data of the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan, the Depository of Financial Statements and the Register of State Enterprises and Institutions, Legal Entities with the State Participation in the Authorized Capital of the Ministry of Finance of the Republic of Kazakhstan, Central Securities Depository, et cetera In total, the study includes financial and non-financial information from 788 JSCs between 2017-2019
    DOI: 10.1596/37851
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  • 13
    Online Resource
    Online Resource
    Benchmarking Financial Development (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (47 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten Benchmarking Financial Development
    Keywords: Access to Finance ; Bond ; Bond market ; Debt Markets ; Economic Theory & Research ; Economic development ; Emerging Markets ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial markets ; Financial system ; Financial systems ; International bank ; Private Sector Development ; Returns ; Access to Finance ; Bond ; Bond market ; Debt Markets ; Economic Theory & Research ; Economic development ; Emerging Markets ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial markets ; Financial system ; Financial systems ; International bank ; Private Sector Development ; Returns ; Access to Finance ; Bond ; Bond market ; Debt Markets ; Economic Theory & Research ; Economic development ; Emerging Markets ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial markets ; Financial system ; Financial systems ; International bank ; Private Sector Development ; Returns
    Abstract: Capitalizing on recent improvements in the availability of cross-country financial sector data, this paper proposes a standard methodology for benchmarking the policy component of financial development. Systematic controls are introduced to isolate main structural country characteristics and a principal components analysis is used to help identify a parsimonious set of ten "core" outcome indicators from a broader set of twenty seven potential indicators covering different dimensions of development in both financial institutions and financial markets. Such a broad-based approach helps reveal important determinants and regularities of the process of financial development. The paper also identifies some of the main data gaps that will need to be filled to allow further progress in financial benchmarking looking forward
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  • 14
    Online Resource
    Online Resource
    Foreign Bank Acquisitions And Outreach : Evidence From Mexico (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (43 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten Foreign Bank Acquisitions And Outreach
    Keywords: Access to Finance ; Bank Acquisitions ; Banking Sector ; Banking Sector Development ; Banking Services ; Banking Stability ; Banks ; Banks and Banking Reform ; Corporate Law ; Debt Markets ; Finance and Financial Sector Development ; Financial Crises ; Financial Services ; Foreign Banks ; Law and Development ; Municipalities ; Access to Finance ; Bank Acquisitions ; Banking Sector ; Banking Sector Development ; Banking Services ; Banking Stability ; Banks ; Banks and Banking Reform ; Corporate Law ; Debt Markets ; Finance and Financial Sector Development ; Financial Crises ; Financial Services ; Foreign Banks ; Law and Development ; Municipalities ; Access to Finance ; Bank Acquisitions ; Banking Sector ; Banking Sector Development ; Banking Services ; Banking Stability ; Banks ; Banks and Banking Reform ; Corporate Law ; Debt Markets ; Finance and Financial Sector Development ; Financial Crises ; Financial Services ; Foreign Banks ; Law and Development ; Municipalities
    Abstract: Between 1995 and 2005, foreign bank participation in Mexico rose from 2 percent of bank assets to 83 percent, as the top five largest banks were acquired by foreigners. This paper examines the link between foreign bank acquisitions and banking outreach. Using quarterly country, bank, and bank-municipality-level data, the authors find some contrasting patterns. As foreign bank participation rose due to foreign acquisitions, the number of municipalities with bank presence increased but the number of loan and deposit accounts fell for the country as a whole and for banks after they became foreign. The drop in the number of loans, however, was partially off-set by an increase in domestic bank loans. Further, the decline in loan and deposit accounts was more pronounced in more rural and poorer areas. Finally, only very rich and urban areas experienced an increase in branches after foreign acquisition
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  • 15
    Online Resource
    Online Resource
    Bank Competition And Financial Stability : Friends Or Foes? (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten Bank Competition And Financial Stability
    Keywords: Access to Finance ; Bank ; Banking ; Banking crises ; Banking sector ; Banking system ; Banks and Banking Reform ; Debt Markets ; Deposit Insurance ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Financial stability ; Governments ; Labor Policies ; Markets ; Private Sector Development ; Social Protections and Labor ; Access to Finance ; Bank ; Banking ; Banking crises ; Banking sector ; Banking system ; Banks and Banking Reform ; Debt Markets ; Deposit Insurance ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Financial stability ; Governments ; Labor Policies ; Markets ; Private Sector Development ; Social Protections and Labor ; Access to Finance ; Bank ; Banking ; Banking crises ; Banking sector ; Banking system ; Banks and Banking Reform ; Debt Markets ; Deposit Insurance ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Financial stability ; Governments ; Labor Policies ; Markets ; Private Sector Development ; Social Protections and Labor
    Abstract: Theory makes ambiguous predictions about the relationship between market structure and competitiveness of the banking system and banking sector stability. Empirical studies focusing on individual countries provide similarly ambiguous results, while cross-country studies point mostly to a positive relationship between competition and stability in the banking system. Where liberalization and unfettered competition have resulted in fragility, this has been mostly the consequence of regulatory and supervisory failures. The advantages of competition for an efficient and inclusive financial system are strong, and regulatory and supervisory policies should focus on an incentive-compatible environment for banking rather than try to fine-tune market structure or the degree of competition
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  • 16
    Online Resource
    Online Resource
    Who Gets The Credit? : And Does It Matter? (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (41 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten Who Gets The Credit?
    Keywords: Access to Finance ; Bank ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Credit ; Debt Markets ; Economic Theory and Research ; Enterprise ; Enterprise credit ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial systems ; Household ; Households ; Macroeconomics and Economic Growth ; Regulatory policies ; Access to Finance ; Bank ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Credit ; Debt Markets ; Economic Theory and Research ; Enterprise ; Enterprise credit ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial systems ; Household ; Households ; Macroeconomics and Economic Growth ; Regulatory policies ; Access to Finance ; Bank ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Credit ; Debt Markets ; Economic Theory and Research ; Enterprise ; Enterprise credit ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial systems ; Household ; Households ; Macroeconomics and Economic Growth ; Regulatory policies
    Abstract: While the theoretical and empirical finance literature has focused almost exclusively on enterprise credit, about half of credit extended by banks to the private sector in a sample of 45 developing and developed countries is to households. The share of household credit in total credit increases as countries grow richer and financial systems develop. Cross-country regressions, however, suggest a positive and significant impact on gross domestic product per capita growth only of enterprise but not household credit. These two findings together partly explain why previous studies have found a small or insignificant effect of finance on growth in high-income countries. In addition, countries with a lower share of manufacturing, a higher degree of urbanization, and more market-oriented financial systems have a higher share of household credit. It is thus mostly socio-economic trends that determine credit composition, while policies influencing banking market structure and regulatory policies are not robustly related to credit composition
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  • 17
    Online Resource
    Online Resource
    Bank Financing For SMEs Around The World : Drivers, Obstacles, Business Models, And Lending Practices (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (43 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten Bank Financing For SMEs Around The World
    Keywords: Access to Finance ; Banks ; Banks and Banking Reform ; Debt Markets ; Employment ; Factoring ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Interest rates ; Nonperforming loans ; Profitability ; Prudential regulations ; Risk management ; Small banks ; Access to Finance ; Banks ; Banks and Banking Reform ; Debt Markets ; Employment ; Factoring ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Interest rates ; Nonperforming loans ; Profitability ; Prudential regulations ; Risk management ; Small banks ; Access to Finance ; Banks ; Banks and Banking Reform ; Debt Markets ; Employment ; Factoring ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Interest rates ; Nonperforming loans ; Profitability ; Prudential regulations ; Risk management ; Small banks
    Abstract: Using data from a survey of 91 banks in 45 countries, the authors characterize bank financing to small and medium enterprises (SMEs) around the world. They find that banks perceive the SME segment to be highly profitable, but perceive macroeconomic instability in developing countries and competition in developed countries as the main obstacles. To serve SMEs banks have set up dedicated departments and decentralized the sale of products to the branches. However, loan approval, risk management, and loan recovery functions remain centralized. Compared with large firms, banks are less exposed to small enterprises, charge them higher interest rates and fees, and experience more non-performing loans from lending to them. Although there are some differences in SMEs financing across government, private, and foreign-owned banks - with the latter being more likely to engage in arms-length lending - the most significant differences are found between banks in developed and developing countries. Banks in developing countries tend to be less exposed to SMEs, provide a lower share of investment loans, and charge higher fees and interest rates. Overall, the evidence suggests that the lending environment is more important than firm size or bank ownership type in shaping bank financing to SMEs
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  • 18
    Online Resource
    Online Resource
    The Typology of Partial Credit Guarantee Funds Around The World (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten The Typology of Partial Credit Guarantee Funds Around The World
    Keywords: Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Borrower ; Credit guarantee ; Debt Markets ; Deposit Insurance ; Finance and Financial Sector Development ; Financial support ; Financing obstacles ; Guarantee schemes ; International bank ; Microfinance ; Partial credit ; Risk management ; Risk-based pricing ; Transaction costs ; Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Borrower ; Credit guarantee ; Debt Markets ; Deposit Insurance ; Finance and Financial Sector Development ; Financial support ; Financing obstacles ; Guarantee schemes ; International bank ; Microfinance ; Partial credit ; Risk management ; Risk-based pricing ; Transaction costs ; Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Borrower ; Credit guarantee ; Debt Markets ; Deposit Insurance ; Finance and Financial Sector Development ; Financial support ; Financing obstacles ; Guarantee schemes ; International bank ; Microfinance ; Partial credit ; Risk management ; Risk-based pricing ; Transaction costs
    Abstract: This paper presents data on 76 partial credit guarantee schemes across 46 developed and developing countries. Based on theory, the authors discuss different organizational features of credit guarantee schemes and their variation across countries. They focus on the respective role of government and the private sector and different pricing and risk reduction tools and how they are correlated across countries. The findings show that government has an important role to play in funding and management, but less so in risk assessment and recovery. There is a surprisingly low use of risk-based pricing and limited use of risk management mechanisms
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  • 19
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    The Econometrics of Finance And Growth (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (45 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten The Econometrics of Finance And Growth
    Keywords: Access to Finance ; Debt Markets ; Economic Theory and Research ; Economic development ; Economic growth ; External finance ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial sector development ; Information asymmetries ; International Bank ; Macroeconomics and Economic Growth ; Payment services ; Poverty Reduction ; Pro-Poor Growth ; Science and Technology Development ; Statistical and Mathematical Sciences ; Transaction costs ; Access to Finance ; Debt Markets ; Economic Theory and Research ; Economic development ; Economic growth ; External finance ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial sector development ; Information asymmetries ; International Bank ; Macroeconomics and Economic Growth ; Payment services ; Poverty Reduction ; Pro-Poor Growth ; Science and Technology Development ; Statistical and Mathematical Sciences ; Transaction costs ; Access to Finance ; Debt Markets ; Economic Theory and Research ; Economic development ; Economic growth ; External finance ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial sector development ; Information asymmetries ; International Bank ; Macroeconomics and Economic Growth ; Payment services ; Poverty Reduction ; Pro-Poor Growth ; Science and Technology Development ; Statistical and Mathematical Sciences ; Transaction costs
    Abstract: This paper reviews different econometric methodologies to assess the relationship between financial development and growth. It illustrates the identification problem, which is at the center of the finance and growth literature, using the example of a simple Ordinary Least Squares estimation. It discusses cross-sectional and panel instrumental variable approaches to overcome the identification problem. It presents the time-series approach, which focuses on the forecast capacity of financial development for future growth rates, and differences-in-differences techniques that try to overcome the identification problem by assessing the differential effect of financial sector development across states with different policies or across industries with different needs for external finance. Finally, it discusses firm-level and household approaches that allow analysts to dig deeper into the channels and mechanisms through which financial development enhances growth and welfare, but pose their own methodological challenges
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  • 20
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    The Basic Analytics of Access To Financial Services (2006)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (58 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten The Basic Analytics of Access To Financial Services
    Keywords: Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: Access to financial services, or rather the lack thereof, is often indiscriminately decried as a problem in many developing countries. The authors argue that the "problem of access" should rather be analyzed by identifying different demand and supply constraints. They use the concept of an access possibilities frontier, drawn for a given set of state variables, to distinguish between cases where a financial system settles below the constrained optimum, cases where this constrained optimum is too low, and-in credit services-cases where the observed outcome is excessively high. They distinguish between payment and savings services and fixed intermediation costs, on the one hand, and lending services and different sources of credit risk, on the other hand. The authors include both supply and demand side frictions that can lead to lower access. The analysis helps identify bankable and banked population, the binding constraint to close the gap between the two, and policies to prudently expand the bankable population. This new conceptual framework can inform the debate on adequate policies to expand access to financial services and can serve as the basis for an informed measurement of access
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  • 21
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    Bank Efficiency, Ownership, And Market Structure : Why Are Interest Spreads So High In Uganda ? (2006)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (39 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten Bank Efficiency, Ownership, And Market Structure
    Keywords: Bank Policy ; Bank Spreads ; Banking System ; Banks and Banking Reform ; Bond ; Debt Markets ; Developing Countries ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Bank ; Foreign Bank Entry ; Foreign Banks ; Interest ; Interest Rate ; Interest Rate System ; Private Sector Development ; Bank Policy ; Bank Spreads ; Banking System ; Banks and Banking Reform ; Bond ; Debt Markets ; Developing Countries ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Bank ; Foreign Bank Entry ; Foreign Banks ; Interest ; Interest Rate ; Interest Rate System ; Private Sector Development ; Bank Policy ; Bank Spreads ; Banking System ; Banks and Banking Reform ; Bond ; Debt Markets ; Developing Countries ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Bank ; Foreign Bank Entry ; Foreign Banks ; Interest ; Interest Rate ; Interest Rate System ; Private Sector Development
    Abstract: Using a unique bank-level data set on the Ugandan banking system during 1999-2005, the authors explore the factors behind consistently high interest rate spreads and margins. While foreign banks charge lower interest rate spreads, they do not find a robust and economically significant relationship between privatization, foreign bank entry, market structure, and banking efficiency. Similarly, macroeconomic variables can explain little of the over-time variation in bank spreads. Bank-level characteristics, on the other hand, such as bank size, operating costs, and composition of loan portfolio explain a large proportion of cross-bank, cross-time variation in spreads and margins. However, time-invariant bank-level fixed effects explain the largest part of bank variation in spreads and margins. Further, the authors find tentative evidence that banks targeting the low end of the market incur higher costs and therefore higher margins
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  • 22
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    Banking Services For Everyone ? : Barriers To Bank Access And Use Around The World (2006)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten Banking Services For Everyone ?
    Keywords: Bank ; Bank Accounts ; Banking Services ; Banks ; Banks and Banking Reform ; Checking Account ; Customers ; Debt Markets ; Demand ; Depos Deposits ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Financial Services ; Financial Transaction ; Housing ; Private Sector Development ; Bank ; Bank Accounts ; Banking Services ; Banks ; Banks and Banking Reform ; Checking Account ; Customers ; Debt Markets ; Demand ; Depos Deposits ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Financial Services ; Financial Transaction ; Housing ; Private Sector Development ; Bank ; Bank Accounts ; Banking Services ; Banks ; Banks and Banking Reform ; Checking Account ; Customers ; Debt Markets ; Demand ; Depos Deposits ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Financial Services ; Financial Transaction ; Housing ; Private Sector Development
    Abstract: Using information from 193 banks in 58 countries, the authors develop and analyze indicators of physical access, affordability, and eligibility barriers to deposit, loan, and payment services. They find substantial cross-country variation in barriers to banking and show that in many countries these barriers can potentially exclude a significant share of the population from using banking services. Correlations with bank- and country-level variables show that bank size and the availability of physical infrastructure are the most robust predictors of barriers. Further, the authors find evidence that in more competitive, open, and transparent economies, and in countries with better contractual and informational frameworks, banks impose lower barriers. Finally, though foreign banks seem to charge higher fees than other banks, in foreign dominated banking systems fees are lower and it is easier to open bank accounts and to apply for loans. On the other hand, in systems that are predominantly government-owned, customers pay lower fees but also face greater restrictions in terms of where to apply for loans and how long it takes to have applications processed. These findings have important implications for policy reforms to broaden access
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  • 23
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    A New Database on Financial Development and Structure (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (67 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Levine, Ross A New Database on Financial Development and Structure
    Keywords: Bank ; Banks and Banking Reform ; Bond ; Bond Markets ; Commercial Banks ; Corporate Law ; Debt Markets ; Emerging Markets ; Equity ; Equity Markets ; Finance ; Finance and Financial Sector Development ; Financial Crises ; Financial Institutions ; Financial Intermediaries ; Financial Literacy ; Financial Sector ; Financial Systems ; Insurance ; Insurance Companies ; Law and Development ; Money ; Non Bank Financial Institutions ; Ownership ; Pension ; Pension Funds ; Private Sector Development ; Stock ; Stock Market ; Bank ; Banks and Banking Reform ; Bond ; Bond Markets ; Commercial Banks ; Corporate Law ; Debt Markets ; Emerging Markets ; Equity ; Equity Markets ; Finance ; Finance and Financial Sector Development ; Financial Crises ; Financial Institutions ; Financial Intermediaries ; Financial Literacy ; Financial Sector ; Financial Systems ; Insurance ; Insurance Companies ; Law and Development ; Money ; Non Bank Financial Institutions ; Ownership ; Pension ; Pension Funds ; Private Sector Development ; Stock ; Stock Market
    Abstract: July 1999 - This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets. Beck, Demirgüç-Kunt, and Levine introduce a new database of indicators of financial development and structure across countries and over time. This database is unique in that it unites a variety of indicators that measure the size, activity, and efficiency of financial intermediaries and markets. It improves on previous efforts by presenting data on the public share of commercial banks, by introducing indicators of the size and activity of nonbank financial institutions, and by presenting measures of the size of bond and primary equity markets. The compiled data permit the construction of financial structure indicators to measure whether, for example, a country's banks are larger, more active, and more efficient than its stock markets. These indicators can then be used to investigate the empirical link between the legal, regulatory, and policy environment and indicators of financial structure. They can also be used to analyze the implications of financial structure for economic growth. Beck, Demirgüç-Kunt, and Levine describe the sources and construction of, and the intuition behind, different indicators and present descriptive statistics. This paper - a product of Finance, Development Research Group - is part of a broader effort in the group to understand the determinants of financial structure and its importance to economic development. The authors may be contacted at tbeckworldbank.org, ademirguckunt@worldbank.org, or rlevine@csom.umn.edu
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  • 24
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    New Firm Formation and Industry Growth : Does Having a Market- or Bank-Based System Matter? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (50 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Levine, Ross New Firm Formation and Industry Growth
    Keywords: Banks and Banking Reform ; Debt Markets ; Economic Development ; Emerging Markets ; External Finance ; Finance and Financial Sector Development ; Financial Development ; Financial Literacy ; Financial Structure ; Financial System ; Financial Systems ; Individual Investors ; Legal Protection ; Liquid Market ; Market ; Market Development ; Market Liquidity ; Markets ; Outside Investors ; Private Sector Development ; Public Markets ; Shareholders ; Shares ; Stock ; Transaction ; Transaction Costs ; Banks and Banking Reform ; Debt Markets ; Economic Development ; Emerging Markets ; External Finance ; Finance and Financial Sector Development ; Financial Development ; Financial Literacy ; Financial Structure ; Financial System ; Financial Systems ; Individual Investors ; Legal Protection ; Liquid Market ; Market ; Market Development ; Market Liquidity ; Markets ; Outside Investors ; Private Sector Development ; Public Markets ; Shareholders ; Shares ; Stock ; Transaction ; Transaction Costs
    Abstract: June 2000 - Do industries that depend heavily on external finance grow faster in market-based or bank-based financial systems? Are new firms more likely to form in a bank-based or a market-based financial system? Beck and Levine find no evidence for the superiority of either market-based or bank-based financial systems for industries dependent on external financing. But they find overwhelming evidence that industries heavily dependent on external finance grow faster in economies with higher levels of financial development and with better legal protection for outside investors - including strong creditor and shareholder rights and strong contract enforcement mechanisms. Financial development also stimulates the establishment of new firms, which is consistent with the Schumpeterian view of creative destruction. Financial development matters. That the financial system is bank-based or market-based offers little additional information. This paper - a product of the Financial Sector Strategy and Policy Department - is part of a larger effort in the department to understand the link between financial development and economic growth. The authors may be contacted at tbeckworldbank.org or rlevine@csom.umn.edu
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  • 25
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    Impediments to the Development and Efficiency of Financial Intermediation in Brazil (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (20 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten Impediments to the Development and Efficiency of Financial Intermediation in Brazil
    Keywords: Accounting ; Accounting Standards ; Banks and Banking Reform ; Bond Markets ; Borrowers ; Contract ; Contract Enforcement ; Credit Information ; Credit Information Systems ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Enforceability ; Enforceability Of Contracts ; Enforcement Of Contracts ; Finance and Financial Sector Development ; Financial Development ; Financial Institutions ; Financial Literacy ; Interest ; Liabilities ; Macroeconomics and Economic Growth ; Private Bond ; Private Sector Development ; Regulatory Framework ; Stock ; Stock Markets ; Unsecured Creditors ; Accounting ; Accounting Standards ; Banks and Banking Reform ; Bond Markets ; Borrowers ; Contract ; Contract Enforcement ; Credit Information ; Credit Information Systems ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Enforceability ; Enforceability Of Contracts ; Enforcement Of Contracts ; Finance and Financial Sector Development ; Financial Development ; Financial Institutions ; Financial Literacy ; Interest ; Liabilities ; Macroeconomics and Economic Growth ; Private Bond ; Private Sector Development ; Regulatory Framework ; Stock ; Stock Markets ; Unsecured Creditors
    Abstract: June 2000 - To improve on the low level and low efficiency of Brazil's financial intermediation (and hence economic growth), Brazil needs reforms leading to a more efficient judicial sector, better enforcement of contracts, stronger rights for creditors, stronger accounting standards and practices, and a legal and regulatory framework that facilitates the exchange of information about borrowers. Reforms to improve both the level and the efficiency of financial intermediation in Brazil should be high on Brazilian policymakers' agendas, because of the financial sector's importance to economic growth. This means that Brazil must also improve the legal and regulatory environment in which its financial institutions operate. Brazil is weak in important components of such an environment: the rights of secured and unsecured creditors, the enforcement of contracts, and the sharing of credit information among intermediaries. Recent reforms, such as the extension of alienação fiduciaria to housing, the introduction of cédula de crédito bancario, the legal separation of principal and interest, and improvements in credit information systems, are useful steps in strengthening the framework. But more is needed. Reforms that will significantly increase the level and efficiency of financial intermediation and have a positive impact on economic growth include: · A more efficient judicial sector and better enforcement of contracts. · Stronger rights for secured and unsecured creditors. · Stronger accounting standards and practices, to improve the quality of information available about borrowers. · The development of a legal and regulatory framework that facilitates the exchange among financial institutions of both negative and positive information about borrowers. This paper - a product of the Financial Sector Strategy and Policy Department - is part of a larger effort in the department to better understand the link between financial development and economic growth, with application to Brazil. The author may be contacted at tbeckworldbank.org
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