Financial systems and development

4.3 Credit and income redistribution in Costa Rica 59
4.4 The Botswana Development Corporation 60
4.5 The inflation tax 63
4.6 Taxation of financial intermediation in the Philippines 64
4.7 The curb market 67
4.8 Financial indexation in Brazil 68
5.1 Examples of financial distress 71
5.2 Bank solvency and liquidity 73
5.3 How good bankers become bad bankers 77
5.4 The U.S. savings and loan crisis: the lessons of moral hazard 78
5.5 Can banks "muddle through"? 79
5.6 Restructuring a large corporation: a Mexican example 83
6.1 Civil and commercial law in Korea 86
6.2 Financial and economic effects of land tenure in Thailand 87
6.3 Islamic banking 88
6.4 Commercial law enforcement in Pakistan 89
6.5 Elements of a bank supervision system 92
6.6 Investment funds in Egypt 94
7.1 The structure of investment and the capital stock 97
7.2 Corporate finance in theory and practice 99
7.3 The financial history of a Pakistani firm 100
7.4 Housing finance 102
7.5 Bank modernization: Indonesia's experience 104
7.6 Banks in Guinea 105
7.7 Pension funds as a source of term finance 107
7.8 Capital markets in India 108
8.1 Informal finance in Niger 113
8.2 Rotating savings and credit associations 114
8.3 The Grameen Bank: an alternative approach to noncorporate finance in Bangladesh 117
8.4 The Badan Kredit Kecamatan: financial innovation for the noncorporate sector in Indonesia 120
9.1 Financial liberalization in New Zealand 125
9.2 Financial reform in Korea 126
Text figures
1.1 Growth of real GNP in developing countries by region, 1965 to 1988 7
1.2 Real GNP per capita in developing countries by region, 1965 to 1988 7
1.3 Growth of output and trade, 1980 to 1988 9
1.4 Growth of export volume in developing countries by region, 1965 to 1988 10
1.5 Real commodity prices, 1970 to 1988 11
1.6 Saving and investment rates in developing countries by region, 1965 to 1987 12
1.7 Real effective exchange rates in developing countries by region, 1978 to 1988 17
1.8 Domestic and external liabilities in selected developing countries, 1975, 1981, and 1987 22
2.1 Average saving and investment rates and sectoral surpluses and deficits for fourteen developing
countries 28
2.2 Indicators of financial depth 31
3.1 The evolution of financial assets in selected countries, 1800 to 1987 45
4.1 Central government borrowing by source, 1975 to 1985 62
4.2 Real interest rates in developing countries and the United States, 1967 to 1985 65
4.3 Financial savings and the real deposit rate in Argentina and Thailand, 1970 to 1987 66
4.4 Prices, production, and bank credit in Colombia 69
5.1 Ratio of new credit to investment in selected developing countries, 1973 to 1979 and 1980
to 1986 74
5.2 Central bank losses and new domestic credit in selected developing countries, 1980 to 1987 75
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