The Global Financial Development Report 2017/2018 will be released on November 7 at 4pm EST at https://www.worldbank.org/financialdevelopment.
Join us for the report launch event in Washington, DC and online on November 9.
The Global Financial Development Report 2017/2018 will be released on November 7 at 4pm EST at https://www.worldbank.org/financialdevelopment.
Join us for the report launch event in Washington, DC and online on November 9.
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 contributes to faster growth through two channels. First, international banks make available much-needed capital, expertise, and new technologies, boosting the competitiveness of domestic financial systems. Second, they enable risk-sharing and diversification across borders.
But international banking is not without risks. The global financial crisis vividly demonstrated how international banks can transmit shocks across the globe. Global Financial Development Report 2017 / 2018: Bankers without Borders 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.
Global Financial Development Report 2017/2018: Bankers without Borders is the fourth in a World Bank series. It provides a unique contribution to financial sector policy debates, building on novel data, surveys, research, and wide-ranging country experience, with emphasis on emerging markets and developing economies. The report’s findings and policy recommendations are relevant for policy makers; staff of central banks, ministries of finance, and financial regulation agencies; nongovernmental organizations and donors; academics and other researchers and analysts; and members of the finance and development community. The report also tracks financial systems in more than 200 economies before and during the global financial crisis, included in the accompanying website (www.worldbank.org/financialdevelopment). The website also includes extensive datasets, research papers, and other background materials, as well as interactive features.
Ted Chu was appointed chief economist of the International Finance Corporation in September 2014. A business economist and corporate executive for over 25 years, he has accumulated a wealth of practical economic research experience in four broad areas: corporate strategy, public policy analysis, multinational operations, and financial asset management.
Asli Demirgüç-Kunt is the Director of Research at the World Bank. After joining the Bank in 1989 as a Young Economist, she has held different positions, including Director of Development Policy, Chief Economist of Financial and Private Sector Development Network, and Senior Research Manager, doing research and advising on financial sector and private sector development issues.
Shanta Devarajan is the Senior Director for Development Economics (DEC) at the World Bank. Previously, he was the Chief Economist of the World Bank’s Middle East and North Africa Region. Since joining the World Bank in 1991, he has been a Principal Economist and Research Manager for Public Economics in the Development Research Group, and the Chief Economist of the Human Development Network, the South Asia Region and Africa Region.
Mahmoud Mohieldin is the World Bank Group Senior Vice President for the 2030 Development Agenda, United Nations Relations, and Partnerships. Before joining the World Bank, Mohieldin held numerous senior positions in the government of Egypt, including minister of investment from 2004 until 2010.
Ceyla Pazarbasioglu is Senior Director for the Finance and Markets Global Practice, World Bank Group, since February 1, 2017. Prior to taking on this role, she was a Senior Adviser in the Finance and Markets Global Practice and the Global Lead for the Financial Sector Oversight and Policy and Bank Regulation and Restructuring areas.