This study analyses the institutional impediments to investment and growth in SEE and suggests ‘second generation’ policy reforms to ease these constraints. Chapter one reviews the recent trends in the...
Firm surveys often indicate that firms complain a lot about lack of access to financial services, but financing constraints are difficult to identify, given demand and supply considerations and with only...
The 2008 financial crisis has highlighted the challenges associated with global financial integration and emphasized the importance of macro financial linkages. In the financial sector, attention is being...
This FOCUS 10 publication provides an in-depth examination of a major corporate governance policy, initiative, or issue through a combination of research, case studies, and expert opinion. Unlike a traditional...
The Third International Conference on Corporate Governance in Emerging Markets included 38 papers authored by scholars from 18 countries. The papers, organized into 10 thematically different sessions...
The Annual World Bank Conference on Development Economics (ABCDE) is a forum for discussion and debate of important policy issues facing developing countries. The conferences emphasize the contribution...
As the world economy recovers, developing countries will need to rely on international markets including dynamic emerging markets, as a source of demand to revitalize economic growth. Despite recent calls...
Have donors changed their aid-allocation criteria over the past three decades toward greater selectivity, a frequently stated goal of the international development community? Using data on how 22 donors...
Rural poverty: old challenges in new context by Stefan, Dercon; evaluation in the practice of development by Martin, Ravallion; timing and duration of exposure in evaluations of social programs by Elizabeth...
This issue includes the following: dollar a day revisited, by Martin Ravallion, Shaohua Chen, and Prem Sangraula; evidence on changes in aid allocation criteria, by Stijn Claessens, Danny Cassimon, and...
For a large number of companies from different countries, the authors analyze how company corporate governance practices and country regulatory regimes interact in terms of company valuation. They confirm...
The authors study international financial integration analyzing firms from various countries raising capital, trading equity, and cross-listing in major world stock markets. Using a large sample of 39,517...
While institutional differences have been found to affect country growth patterns, much has remained unexplained, including how economic actors "overcome" institutional weaknesses and how internationalization...
Financial intermediation and financial services industries have undergone many changes in the past two decades due to deregulation, globalization, and technological advances. The framework for regulating...
Using cross-country and panel regressions, the authors show that financial sector development significantly reduces undernourishment (hunger), largely through gaining farmers and others access to productivity-enhancing...
This study investigates the relationship between financial sector development and progress in reaching the Millennium Development Goals (MDGs). It assesses the contribution of countries' financial sector...
This article reviews the evidence on the importance of finance for economic well-being. It provides data on the use of basic financial services by households and firms across a sample of countries, assesses...
The literature shows that good corporate governance generally pays for firms, for markets, and for countries. It is associated with a lower cost of capital, higher returns on equity, greater efficiency...
More than regulations, laws on the books, or voluntary codes, enforcement is a key to creating an effective business environment and good corporate governance, at least in developing countries and transition...
This paper reviews the recent literature on cross-border banking, with a focus on policy implications. Cross-border banking has increased sharply in recent decades, particularly in the form of entry, and...