Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Recent empirical evidence highlights that access to basic financial services can make a substantial positive difference in improving poor people's lives. Accordingly, financial sector reforms that promote financial inclusion are increasingly at the core of policymakers' agendas. The Consultative Group to Assist the Poor and the World Bank Group, in response, launched the Financial Access project, including a cross-country database on financial inclusion topics and an annual report to inform the policy debate. Using this database, this paper (i) counts the number of unbanked adults around the world at 56 percent, (ii) analyzes the state of access to deposit and loan services as well as the extent of retail networks, and (iii) discusses the state of financial inclusion mandates around the world.

Access to Finance --- Banks & Banking Reform --- Debt Markets --- Emerging Markets --- Finance and Financial Sector Development --- Financial access --- Financial inclusion --- Financial institutions --- Financial Literacy --- Financial sector reform

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper investigates corruption and tax evasion and their firm-level determinants across 25,000 firms in 57 countries, a large fraction of which are small and medium enterprises in developing countries. Firms that pay more bribes also evade more taxes. Corruption acts as a tax on innovation, particularly that of small and young firms. Innovating firms pay a larger percentage of their revenues in bribes to government officials than non-innovating firms. They do not, however, pay more protection money to private parties than other firms. Comparing the magnitudes of bribes and taxes evaded, innovating firms and firms that use formal finance are more likely to be net victims. The findings point to the challenges facing innovators in developing countries and the role of banks in curbing corruption and tax evasion.

Access to Finance --- Banks --- Bribe --- Bribes --- Corporate finance --- Corruption --- Debt Markets --- Economic growth --- Entrepreneur --- Entrepreneurs --- External finance --- Extortion --- Finance and Financial Sector Development --- Financial development --- Financial intermediaries --- Financial intermediation --- Financial sector reform --- Financial system --- Formal finance --- Informal financing --- International bank --- Macroeconomics and Economic Growth --- Profitability --- Public Sector Corruption & Anticorruption Measures --- Public Sector Development --- Public Sector Economics --- Taxation & Subsidies --- Working capital

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The degree of an economy’s monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP-- in low- to middle-income countries is significantly correlated with per-capita GDP, real interest rates, and financial sector reform. It suggests that maintaining an upward momentum in monetization can be an important policy objective, particularly for low-income countries, and that monetary and financial sector policies need to be conducive to enhancing monetization.

Finance --- Business & Economics --- Money --- Financial institutions --- Management. --- Banks and Banking --- Finance: General --- Inflation --- Demand for Money --- Monetary Policy --- Interest Rates: Determination, Term Structure, and Effects --- Financial Markets and the Macroeconomy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- General Financial Markets: Government Policy and Regulation --- Price Level --- Deflation --- Banking --- Financial services law & regulation --- Macroeconomics --- Deposit rates --- Financial sector development --- Bank deposits --- Financial sector reform --- Financial services --- Financial markets --- Financial regulation and supervision --- Prices --- Financial services industry --- Interest rates --- Banks and banking --- Bangladesh

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This study investigates the impact of financial sector reforms on interest rate spreads in the commercial banking system in Malawi. The financial reform program commenced in 1989 when both the Reserve Bank Act and the Banking Act were revised with the easing of entry requirements into the banking system, and indirect monetary policy instruments were subsequently introduced in 1990. The adoption of a floating exchange rate in 1994 marked the end of major policy reforms in the Malawian financial sector. Using alternative definitions of spreads, our analysis shows that spreads increased significantly following liberalization, and panel regression results suggest that the observed high spreads can be attributed to high monopoly power, high reserve requirements, high central bank discount rate and high inflation.

Banks and Banking --- Finance: General --- Money and Monetary Policy --- Interest Rates: Determination, Term Structure, and Effects --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Oligopoly and Other Imperfect Markets --- General Financial Markets: Government Policy and Regulation --- Monetary Policy --- Banking --- Financial services law & regulation --- Finance --- Monetary economics --- Commercial banks --- Financial sector reform --- Discount rates --- Reserve requirements --- Financial institutions --- Financial regulation and supervision --- Financial services --- Monetary policy --- Deposit rates --- Banks and banking --- Financial services industry --- Discount --- Interest rates --- Malawi

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper reviews key areas of central banking reform in a sample of centrally planned economies undergoing transition to market-based systems. The discussion draws mainly on the experiences of four countries, Hungary, Poland, Czechoslovakia, and China. Significant efforts have been made, or are under consideration, in all countries to develop a more efficient framework for monetary management, and to provide greater autonomy to central banks in macro stabilization policies. These objectives call for a coordinated approach to strengthening a wide range of central banking functions simultaneously, and require that a core mass of supporting financial sector reforms be implemented to ensure effective transformation and stabilization with minimal transitional costs.

Bank supervision --- Banking --- Banks and Banking --- Banks and banking --- Banks --- Commercial banks --- Credit --- Depository Institutions --- Finance --- Finance: General --- Financial Institutions and Services: Government Policy and Regulation --- Financial institutions --- Financial regulation and supervision --- Financial sector reform --- Financial services industry --- Financial services law & regulation --- General Financial Markets: Government Policy and Regulation --- Industries: Financial Services --- Loans --- Micro Finance Institutions --- Monetary economics --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Money and Monetary Policy --- Money --- Mortgages --- State supervision --- Poland, Republic of