Financial systems and development

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Throughout the World Development Indicators, the data for China do not include Taiwan, China. However, footnotes to Tables 14-18 provide estimates of the international transactions for Taiwan, China. The table format of this edition follows that used in previous years. In each group, economies are listed in ascending order of GNP per capita, except those for which no such figure can be calculated. These are italicized and in alphabetical order at the end of the group deemed to be appropriate. This order is used in all tables except Table 19, which covers only OPEC and high-income OECD countries. The alphabetical list in the key shows the reference nurnber for each economy; here, too, italics indicate economies with no estimates of GNP per capita. Economies in the high-income group marked by the symbol t are those classified Economies with populations of less than I million are not shown separately in the main tables, but basic indicators for these countries and territories are in a separate table in Box A.1. The summary measures are overall estimates: countries for which individual estimates are not shown, because of size, nonreporting, or insufficient history, have been included by assuming they follow the trend of reporting countries during such periods. This gives a more consistent aggregate measure by standardizing country coverage for each period shown. Group aggregates include countries with less than 1 million population, even though country-specific data for these countries do not appear in the tables. Where missing information accounts for a significant share of the overall estimate, however, the group measure is reported as not available. Groups of economies Countries are colored to show their income group; for example, all low-income economies (those with a GNP per capita of $480 or less in 1987) are colored yellow. The groups are those used in the 32 tables that follow. -Sa Middle'incor'eeconomis S Low-income economies U k eazie Ha d _i Middle-income economies E s ao D sr as,u High-income economies cO.-c Corona . Nonreporting nonmembers (see Box A.2) ,nb, )Mea,o. D Economies not included in the main tables (see Box A.1) res Vesle r i3a Fuluna Ameet Na,a NCI aSanoa . AFr) (9 r .,/ NZ) 'c 5nes a In~ ~~ F.er^r D "> e~~~~ a ~ ~~~~~~~ Den Rep, ~~~. X5 Sea lKs3cN sthb Prg ViS n Is ands / Anta ardast V (L /s - M,,dsen ,5ndK / X Dcn c V. ulLay 1 0ess larsnrs, X : st v eens c5, arnNsdAee VSnezersa "\ 160
y the United Nations or otherwise regarded by sources used in compiling the tables. The bibliogtheir authorities as developing. In the colored raphy gives details of the data sources, which conbands are summary measures-totals, weighted tain comprehensive definitions and descriptions of averages, or median values-calculated for groups concepts used. It should also be noted that country of economies if data are adequate. notes to the World Tables provide additional expla- The methodology used for computing the sum- nations of sources used, breaks in comparability, mary measures is described in the technical notes. and other exceptions to standard statistical prac- For these numbers, w indicates that the summary tices that have been identified by Bank staff on measures are weighted averages; m, median val- national accounts and international transactions. ues; and t, totals. The coverage of economies is not uniform for all indicators, and the variation from Comments and questions relating to the World measures of central tendency can be large; there- Development Indicators should be addressed to: fore readers should exercise caution in comparing the summary measures for different indicators, Socio-Economic Data Division groups, and years or periods. International Economics Department The technical notes and footnotes to tables should be The World Bank referred to in any use of the data. These notes outline 1818 H Street, N.W. the methods, concepts, definitions, and data Washington, D.C. 20433. I FoIe0 olnOO Hnhrd . £eo0Mn001 100al OLGeyLBLI-............- ..- .->. i 00o- - 00, a,0 d- .. Beigm 000- Channel00 Goon d UK 000,08, .-. - :..- .- 0o -ce, . G 000ala1iUK0 T a0 a -101 ~ PopIK 00yam -lhOOO -or -Ka pan0 Rd Am,b CmafAa-anb f9C.Gf p * ~~~~~-_ 1.,0 [f10I0ulr T.Al~~~~~~~ .6,c Rep At9h.'S'Ah~~~~~~~~~~~~~~~DorRe Cape -La fde20a Peop e s 00Ffagal Cfad0 SJda 00000 De-e-hin 00,0io fiNn F io Guam IrS fOr 0,000- 0000010 . b 00e 000-000001 001,000 Fr,, 0l 0001; 10,0000000 TrrorTero,oryoflho SeLKne 1,0,,G, a Nle CenerPoaSlaLoU ao1108 A0g0 0 P 00 SomfDa MadfeT . - 0 . 0? Pepples d 0 En S g e P,oeam hrn po-1 Til ~ ~ G,,cE S"'ga ma Rp PoZ - Role Some . Congo 000110 BoronOr < - 100001a Snehlle Inoon Solon rO - -L Comorlo on,k It F MY- I -(U, N C -e - Zambia 00005, - 0000,02000 - 0000,00 Pr he S o!N Gh0a Ce N. G~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~".~~~~000000 Zpa d G - - 1006 Po0 ge~~~~~~~~~~~~~~~~~~~~~~~~~~6
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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
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Box 7.5 Bank modernization: Indones
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DEVELOPMENT FINANCE INSTITUTIONS. T
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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 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 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
Page 218 and 219: Table 21. Total external debt Long-
Page 220 and 221: Table 22. Flow of public and privat
Page 222 and 223: 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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