Financial systems and development

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Harberger, Arnold C. 1985. "Lessons for Debtor oping Countries." Helsinki: World Institute for Country Managers and Policymakers." In Gor- Development Economics Research. Processed. don W. Smith and John T. Cuddington, eds. In- Jevons, William S. 1898. Money and the Mechanism ternational Debt and the Developing Countries. of Exchange. New York: Appleton. Washington, D.C.: World Bank. Joslin, David. 1963. A Century of Banking in Latin Hector, Gary. 1988. Breaking the Bank: the Decline of America. New York: Oxford University Press. BankAmerica. Boston: Little, Brown. Jucker-Fleetwood, E. E. 1964. Money and Finance in Hinds, Manuel. 1988. "Economic Effects of Finan- Africa. New York: Frederick A. Praeger. cial Crisis." Policy, Planning, and Research Jud, Gustav Donald. 1978. Inflation and the Use of Working Paper 104. Washington, D.C.: World Indexing in Developing Countries. New York: Bank, Country Economics Department. Pro- Praeger. cessed. Jung, Woo S. 1986. "Financial Development and Horioka, Charles Y. 1986. "Why Is Japan's Private Economic Growth: International Evidence." Eco- Savings Rate So High?" Finance & Development nomic Development and Cultural Change 34, 2: 333- 23 (December): 22-25. 46. Horiuchi, Akiyoshi. 1984. "The 'Low Interest Kane, Edward J. 1988. "Tension between Competi- Rate Policy' and Economic Growth in Postwar tion and Coordination in International Financial Japan." Developing Economies 22 (December): Regulation." Working Paper 88-61. Columbus: 349-71. Ohio State University, College of Business. Pro- Hossain, Mahabub. 1988. Credit for Alleviation of cessed. Rural Poverty: The Grameen Bank in Bangladesh. Kaufman, George G. 1985. Implications of Large Research Report 65. Washington, D.C.: Interna- Bank Problems and Insolvencies for the Banking Systional Food Policy Research Institute. tem and Economic Policy. Staff Memorandum 85-3. Hu, Yao-Su. 1984. Industrial Banking and Special Chicago: Federal Reserve Bank of Chicago, Re- Credit Institutions: A Comparative Study. No. 632. search Department. London: Policy Studies Institute. - . 1988. "A Framework for the Future." Pa- Huppi, Monika, and Gershon Feder. 1989. "The per presented at the Fourteenth Annual Confer- Role of Groups and Credit Cooperatives in Rural ence of the Federal Home Loan Bank of San Lending." Washington, D.C.: World Bank, Agri- Francisco, December 8-9, 1988. Processed. culture and Rural Development Department. Kennedy, William P. 1987. Industrial Structure, Processed. Capital Markets, and the Origins of British Economic International Association of Legal Science. 1973. Decline. Cambridge: Cambridge University International Encyclopedia of Comparative Law. Press. Tilbingen: J. C. B. Mohr. Khan, Mohsin S., and Malcolm D. Knight. 1985. International Finance Corporation. 1988. Emerging Fund-Supported Adjustment Programs and Economic Stock Markets Factbook, 1988. Washington, D.C. Growth. Occasional Paper 41. Washington, D.C.: . 1989. Emerging Stock Markets Factbook, International Monetary Fund. 1989. Washington, D.C. Khan, Mohsin S., and Roberto Zahler. 1985. International Monetary Fund. Various years. Inter- "Trade and Financial Liberalization in the Connational Financial Statistics. Washington, D.C. text of External Shocks and Inconsistent Domes- . 1987. World Economic Outlook: Revised Pro- tic Policies." IMF Staff Papers 32, 1 (March): jections by the Staff of the International Monetary 22-55. Fund. Washington, D.C. Khatkhate, D. R. 1972. "Analytic Basis of the - . 1988. World Economic Outlook: A Survey by Working of Monetary Policy in Less Developed the Staff of the International Monetary Fund, Wash- Countries." IMF Staff Papers 19, 3 (November). ington, D.C. . 1980. "False Issues in the Debate on Inter- . 1989. World Economic Outlook: A Survey by est Rate Policies in Less Developed Countries." the Staff of the International Monetary Fund. Wash- Banca Nazional del Lavoro Quarterly Review 133 ington, D.C. (June). Iqbal, Zubair, and Abbas Mirakhor. 1987. Islamic . 1988. "Assessing the Impact of Interest Banking. Occasional Paper 49. Washington, Rates in Less Developed Countries." World De- D.C.: International Monetary Fund. velopment 16, 5: 577-88. Jayawardena, Lal. 1988. "Structural Change in the Khatkhate, D. R., and Klaus-Walter Riechel. 1980. World Economy and New Policy Issues in Devel- "Multipurpose Banking: Its Nature, Scope, and 140
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~~~~/ , -. \-E:-: - :: 0 0 - PUB768
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Oxford University Press NEW YORK OX
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countries' financial institutions i
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4 Financial sector issues in develo
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7.1 Shares of medium- and long-term
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* Fractional reserve banking. The p
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NTB Nontariff barrier * Growth rate
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and grew even faster in 1988 than i
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etter loan recovery procedures, mor
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l~ ~~~ ~ ~~~~~~~~~~~~~~~~~~~ ;:: ;
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The early years of the recovery wer
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Figure 1.4 Growth of export volume
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Figure 1.6 Saving and investment ra
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edly, in Argentina, Brazil, and Mex
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5~~~~ '~ ' S " ''t.*:'.: .:,0!3gft"
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Box 1.2 Debt concepts A variety of
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Table 1.1 Selected economic indicat
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Figure 1.8 Domestic and external li
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Box 1.3 Foreign equity investment E
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j Box 2.1 Life without money "Some
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other ways too. By imposing direct
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Box 2.2 Transaction costs and the s
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Box 2.3 Real interest rates and gro
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I Box 2.4 Swapping risk All economi
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Box 2.5 Deposit insurance Most high
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GOVERNMENT. As well as being regula
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and receivables, whereas developmen
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with the expansion of nonlocal trad
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over. Even so, bankers and industri
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Box 3.3 Financial swindles i Swindl
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Box 3.4 Financial underdevelopment
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Box 3.6 Universal banking One of th
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1960s. They speeded the internation
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4 Financial sector issues in develo
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Box 4.1 Directed credit in Turkey ,
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Box 4.2 Lending program for small e
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Box 4.4 The Botswana Development Co
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markets to finance their deficits,
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0~~~~~ = == X .. _- -- = -_ _ _ __
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Figure 4.3 Financial savings and th
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Box 4.8 Financial indexation in Bra
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Financial systems in distress Not s
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t !< 4> - !: e z u- >as uei- i.e_.S
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tem. They have succeeded in stemmin
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governments gave too little thought
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Box 5.4 The U.S. savings and loan c
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or take a step in the other directi
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have been even larger. The cost of
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~Foundations offinancial systems If
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(an issue closely related to the as
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several centuries. The spread of su
Page 104 and 105: Bankruptcy and reorganization monit
Page 106 and 107: Box 6.5 Elements of a bank supervis
Page 108 and 109: they attempted to discipline bank m
Page 110 and 111: Developing financial systems What s
Page 112 and 113: Figure 7.1 Shares of medium- and lo
Page 114 and 115: Box 7.3 The financial history of a
Page 116 and 117: Box 7.4 Housing finance The formal
Page 118 and 119: Box 7.5 Bank modernization: Indones
Page 120 and 121: DEVELOPMENT FINANCE INSTITUTIONS. T
Page 122 and 123: esources in government securities o
Page 124 and 125: strides in recent years in establis
Page 126 and 127: Issues in informal finance Small-sc
Page 128 and 129: Box 8.2 Rotating savings and credit
Page 130 and 131: original amount to the renter by th
Page 132 and 133: cooperatives' managers because it a
Page 134 and 135: Box 8.4 The Badan Kredit Kecamatan:
Page 136 and 137: Toward more liberal and open financ
Page 138 and 139: a brief period firms faced rapid ch
Page 140 and 141: Box 9.2 Financial reform in Korea K
Page 142 and 143: In the next stage, financial reform
Page 144 and 145: industry, policy reforms and the re
Page 146 and 147: Conclusions of the Report challenge
Page 148 and 149: tion "Risks and costs of finance" d
Page 150 and 151: Montes-Negret, Fernando. "The Decli
Page 152 and 153: D.C.: International Monetary Fund a
Page 156 and 157: croenterprises: Programs or Markets
Page 158 and 159: Douglas Graham, and J. D. Von Pisch
Page 160 and 161: Table A.2 Population and GNP per ca
Page 162 and 163: Table A.5 GDP structure of producti
Page 164 and 165: Table A.8 Growth of export volume,
Page 166 and 167: Table A.10 Growth of long-term debt
Page 168 and 169: Table A.12 Composition of debt outs
Page 170 and 171: Contents Key 157 Introduction and m
Page 172 and 173: Introduction The World Development
Page 174 and 175: Throughout the World Development In
Page 176 and 177: Population _ 0-15 million The color
Page 178 and 179: Table 1. Basic indicators __ GNP pe
Page 180 and 181: Table 2. Growth of production______
Page 182 and 183: Table 3. Structure of production __
Page 184 and 185: Table 4. Agriculture and food Value
Page 186 and 187: Table 5. Commercial energy ~~Energy
Page 188 and 189: Table 6. Structure of manufacturing
Page 190 and 191: Table 7. Manufacturing earnings and
Page 192 and 193: Table 8. Growth of consumption and
Page 194 and 195: Table 9. Structure of demand Distri
Page 196 and 197: Table 10. Structure of consumption_
Page 198 and 199: Table 11. Central government expend
Page 200 and 201: Table 12. Central government curren
Page 202 and 203: Table 13. Money and interest rates
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Table 14. Growth of merchandise tra
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Table 15. Structure of merchandise
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Table 16. Structure of merchandise
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Table 17. OECD imports of manufactu
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Table 18. Balance of payments and r
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Table 19. Official development assi
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Table 20. Official development assi
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Table 21. Total external debt Long-
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Table 22. Flow of public and privat
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Table 23. Total external public and
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Table 24. External public debt and
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Table 25. Terms of external public
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Table 26. Population growth and pro
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Table 27. Demography and fertility
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Table 28. Health and nutrition popu
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Table 29. Education Percentage ofag
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Table 30. Income distribution and I
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Table 31. Urbanization Urban popula
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Table 32. Women in development_____
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Technical notes This twelfth editio
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Box A.1. Basic indicators for count
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Box A.2. Selected indicators for no
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from the Food and Agriculture Organ
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Exports of goods and nonfactor serv
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spectively. Since 1987 data are not
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The table reports the value of manu
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teed, and private nonguaranteed lon
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the Demographic and Health Surveys,
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also the one used within the global
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Bibliography Production and domesti
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Country classifications: World Deve
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I i
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