Syndicate content

global financial development report

Weekly wire: The global forum

Roxanne Bauer's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

Global Financial Development Report 2017/2018: Bankers without Borders
World Bank

Successful international integration has underpinned most experiences of rapid growth, shared prosperity, and reduced poverty. Perhaps no sector of the economy better illustrates the potential benefits--but also the perils--of deeper integration than banking. International banking may contribute to faster growth in two important ways: first, by making available much needed capital, expertise, and new technologies; and second, by enabling risk-sharing and diversification.  But international banking is not without risks. The global financial crisis vividly demonstrated how international banks can transmit shocks across the globe. The Global Financial Development Report 2017/2018 brings to bear new evidence on the debate on the benefits and costs of international banks, particularly for developing countries. It provides evidence-based policy guidance on a range of issues that developing countries face. Countries that are open to international banking can benefit from global flows of funds, knowledge, and opportunity, but the regulatory challenges are complex and, at times, daunting.
 
A Familiar Face: Violence in the lives of children and adolescents
UNICEF

This report presents the most current data on four specific forms of violence – violent discipline and exposure to domestic abuse during early childhood; violence at school; violent deaths among adolescents; and sexual violence in childhood and adolescence. The statistics reveal that children experience violence across all stages of childhood, in diverse settings, and often at the hands of the trusted individuals with whom they interact daily. The report concludes with specific national actions and strategies that UNICEF has embraced to prevent and respond to violence against children.
 

Hot off the press: The Global Financial Development Report 2017/2018: Bankers without Borders

Asli Demirgüç-Kunt's picture

GFDR 2018 cover image The decade before the 2007–09 global financial crisis was characterized by a significant increase in bank globalization, which also coincided with dramatic increases in bank size. International banks became the cornerstone of many financial systems around the world, also in developing countries. Proponents of international banking emphasized the potential gains in terms of much-needed capital, know-how, and technological improvements that foreign banks bring, leading to more competitive and diversified banking systems, improved resource allocation, and greater financial and economic development.

However, the global financial crisis has led to a significant re-evaluation of this conventional wisdom. With the crisis, there was a backlash against globalization in general, and the emphasis shifted to the role international banks can play in shock transmission. Developing countries felt the impact of retrenchment by global banks. Global banks were criticized for taking excessive risks. Financial Stability Board (FSB) and the G20 voiced concerns about how to deal with the resolution of too-big-to-fail banks. As a result, regulations and restrictions got stricter in many countries, particularly in developing countries, further contributing to the retrenchment kicked off by the crisis.

Global Financial Development Report 2017/2018: Bankers without Borders, the fourth in the series, brings to bear new evidence on the debate on the benefits and costs of international banks, particularly for developing countries. It provides figures on recent trends, emerging patterns since the global crisis, and evidence on the economic impact of international banking. The goal is to synthesize evidence and data to contribute to the policy debate on international banking.

Introducing the Global Financial Development Report

Martin Cihak's picture

How should we measure and assess financial development around the globe? Why has financial development progressed so quickly in some regions and countries while seriously lagging in other parts of the world? At what point does the financial sector become too large or too complex? What mix of banks, other financial institutions, and financial markets is the best from the broader development perspective? How to ensure healthy competition in the provision of financial services? Which policies help in supporting robust financial development, and which ones do not? And which ones help in providing people and firms with better access to finance?

These are just some examples of questions to be addressed by a new annual publication, the Global Financial Development Report (GFDR), a flagship report of the World Bank Group. As highlighted by its title, the report will have global coverage with a focus on finance and an explicit developmental angle. The GFDR will provide an overview and assessment of financial sector development around the world, with a particular attention on medium- and low-income countries. The preliminary target release date for the inaugural issue, GFDR 2013, is September 2012.