Finance for Growth Policy Choices in a Volatile World

9780195216059

0195216059

QUOTE...Too often countries have failed to learn from their own policy errors, much less from the mistakes of others. This excellent volume helps remedy the problem by distilling policy lessons from the vast and growing empirical literature on financial crises and development, much of it conducted at the World Bank. The recommendations for institutional and incentive reforms are supported with a wide range of statistical evidence and well-chosen case studies. This book is 'must' reading for policy-makers and anyone interested in understanding the crucial role of finance in economic growth and development.QUOTE - Richard Herring, Vice Dean and Director, The Wharton School This Policy Research Report is the result of a generation of research based on statistical data from around the world. This book provides an integrated view of how financial sector policy can be optimized in the new century. It concludes that policy choices need to create and support the infrastructure which is essential to the efficient functioning of financial markets. Authorities must work with the market to help coordinate private incentives with public interest. The book focuses on making finance effective in delivering growth, preventing and minimizing crises, on government failure in finance, and on harnessing the potential of a technology-driven world of finance without frontiers. A World Bank Policy Research Report. A copublication of the World Bank and Oxford University Press.