"Are markets simply casinos for betting?" Asli recently asked this question on the All About Finance blog. She argues that financial markets do a lot more than that, and I agree. But there are some markets that come very close to being casinos. Surprisingly, in the wake of the financial crisis, the U.S.
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Perhaps the title is a rhetorical question, but I felt obliged to ask it after seeing the latest parody of a World Bank initiative.
The first day of this year's Financial and Private Sector Development Forum is about to wind down. I had the opportunity to attend several fascinating discussions, including:
The World Bank's new chief economist for Financial and Private Sector Development, Asli Demirgüç-Kunt, has entered the blogosphere with the new All About Finance blog. In her first post, Asli considers whether the financial crisis ought to make us consider turning bureaucrats into bankers. She responds with a resounding "no"!