Financial systems and development

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Table A.12 Composition of debt outstanding, 1970 to 1987 (percentage of total long-term debt) Debt from official sources Debt from private sources Debt at floating rate Country 1970-72 2980-82 1987 1970-72 1980-82 1987 1973-75 1980-82 1987 Latin America and the Caribbean *Argentina 12.6 9.0 14.2 87.4 91.0 85.8 6.6 29.2 79.3 *Bolivia 58.2 50.3 73.3 41.8 49.7 26.7 7.4 28.0 27.9 *Brazil 30.7 12.6 24.1 69.3 88.3 76.2 26.1 46.1 58.3 *Chile 47.0 11.0 22.0 53.0 89.0 78.0 8.3 23.4 68.2 *Colombia 68.2 46.1 53.8 31.8 53.9 46.2 5.4 33.7 36.8 *Costa Rica 39.8 36.8 51.0 60.2 63.2 49.0 15.6 42.4 49.8 *Ecuador 51.8 30.6 34.9 48.2 69.4 65.1 8.2 36.5 68.6 Guatemala 47.5 71.0 66.0 52.5 29.0 34.0 3.5 5.6 29.4 *Jamaica 7.4 68.3 82.3 92.6 31.7 17.7 4.6 17.4 24.9 *Mexico 19.5 10.9 16.4 80.5 89.1 83.6 32.0 61.7 67.6 *Peru 15.5 39.3 46.0 84.5 60.7 54.0 16.1 23.0 29.9 *Uruguay 44.2 21.1 20.3 55.8 78.9 79.7 10.1 28.5 65.0 *Venezuela 29.9 3.0 3.4 70.1 97.0 96.6 17.1 60.3 68.7 Sub-Saharan Africa Cameroon 82.2 57.2 67.5 17.7 42.8 32.5 1.8 11.1 5.0 *C6te d'Ivoire 51.4 23.8 40.4 48.6 76.2 59.6 19.3 37.1 37.1 Ethiopia 87.3 91.2 83.3 12.7 8.8 16.7 1.5 2.1 5.8 Ghana 56.6 88.5 86.5 43.4 11.5 13.5 0.0 0.0 5.6 Kenya 58.3 55.9 74.4 41.7 44.1 25.6 2.1 10.0 3.6 Liberia 81.1 75.3 82.9 18.9 24.7 17.1 0.0 15.6 10.7 Malawi 85.9 73.0 95.8 14.1 27.0 4.2 2.3 21.1 2.7 Niger 96.9 42.3 67.9 3.0 57.7 32.1 0.0 13.1 9.2 *Nigeria 68.8 14.6 44.6 31.2 85.4 55.4 0.7 48.6 48.8 Senegal 59.2 69.5 90.3 40.8 30.5 9.7 24.7 8.5 4.1 Sierra Leone 60.6 68.2 83.0 39.4 31.8 17.0 3.8 0.1 0.6 Sudan 86.1 74.4 75.2 13.9 25.6 24.8 2.2 9.7 1.0 Tanzania 63.6 75.9 89.2 36.4 24.1 10.8 0.4 0.3 2.5 Zaire 42.5 66.9 84.7 57.5 33.1 15.3 32.8 11.5 5.3 Zambia 21.8 70.2 86.0 78.2 29.8 14.0 20.7 10.0 14.7 East Asia Indonesia 72.1 51.8 54.9 27.9 48.2 45.1 4.9 15.0 23.9 Korea, Republic of 35.2 34.3 38.1 64.8 65.7 61.9 11.9 29.0 24.4 Malaysia 51.0 22.1 21.0 49.0 77.9 79.0 17.4 36.1 43.7 Papua New Guinea 6.2 25.6 31.4 93.8 74.4 68.6 0.0 23.5 18.0 *Philippines 22.6 32.6 43.8 77.4 67.4 56.2 7.2 23.4 45.2 Thailand 40.1 40.4 50.4 59.9 59.6 49.6 0.4 21.9 26.1 South Asia India 95.1 91.1 75.5 4.9 8.9 24.5 0.0 3.3 12.0 Pakistan 90.6 92.8 94.6 9.4 7.2 5.4 0.0 3.1 5.4 Sri Lanka 81.6 80.9 80.2 18.4 19.1 19.8 0.0 12.1 6.0 Europe, Middle East, and North Africa Algeria 45.9 18.9 17.0 54.1 81.1 83.0 34.0 24.2 33.0 Egypt, Arab Republic of 66.9 82.1 79.7 33.1 17.9 20.3 3.1 2.5 1.9 *Morocco 79.2 56.5 71.9 20.8 43.5 28.1 2.7 26.8 30.5 Portugal 29.3 24.7 17.9 70.7 75.3 82.1 0.0 33.9 41.1 Tunisia 71.8 60.7 68.9 28.2 39.3 31.1 0.0 13.4 16.2 Turkev 92.4 63.1 58.0 7.6 36.9 42.0 0.8 23.1 30.9 *Yugoslavia 37.5 23.6 35.1 62.5 76.4 64.9 3.2 10.1 39.2 Note: An asterisk indicates a highly indebted country. 154
World Development Indicators
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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
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Bankruptcy and reorganization monit
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Box 6.5 Elements of a bank supervis
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they attempted to discipline bank m
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Developing financial systems What s
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Figure 7.1 Shares of medium- and lo
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Box 7.3 The financial history of a
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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 154 and 155: Harberger, Arnold C. 1985. "Lessons
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 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
Page 204 and 205: Table 14. Growth of merchandise tra
Page 206 and 207: Table 15. Structure of merchandise
Page 208 and 209: Table 16. Structure of merchandise
Page 210 and 211: Table 17. OECD imports of manufactu
Page 212 and 213: Table 18. Balance of payments and r
Page 214 and 215: Table 19. Official development assi
Page 216 and 217: 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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