Is the world ready for the advice that governments can better balance the need for credit and emergency support for banks with measures to promote transparency and competition when crises erupt? Governments want every viable tool possible in their arsenal to fight crises, but a bit of 'less is more' and a cautionary re-examination of the role of the state in finance may be in order. This is the thrust of the new Global Financial Development Report (GFDR) 2013: Rethinking the Role of the State in Finance, released Thursday September 13, just ahead of the fourth anniversary of the collapse of Lehman Brothers, which marked the full onset of the financial crisis. The GFDR analyzes four characteristics of banks in over 200 economies since the 1960s and comes with a useful treasure trove of online data.
Check out the GFDR website here.
Read some lively debates on the role of the state in finance, including posts by Asli Demirguc-Kunt, here.
Read the Wall Street Journal's blog about the report here.