Remittances and vulnerability in developing countries: Results from a new dataset on remittances from Italy

Giulia Bettin, Andrea F Presbitero, Nikola Spatafora, 10 February 2014

a

A

Remittances from migrant workers currently represent one of the most important financial flows to developing countries. They can play an important role in pulling millions of families out of poverty. It is therefore critical to identify the key factors affecting remittances, as well as the barriers to these flows (Beck and Martinez Peria 2009 ).

Topics: Development, Migration
Tags: financial development, global financial crisis, Italy, migration, Remittances

Finance and growth: Too much of a good thing?

Thorsten Beck, 27 October 2013

a

A

Over the past 20 years, economists have accumulated a substantial body of empirical evidence that financial sector deepening is a critical part of the economic development process. This shows a well-functioning financial system is a conditio sine qua non for modern market economies to flourish.

Topics: International finance
Tags: economic growth, financial development

Migrating out of poverty: The role of finance

Meghana Ayyagari, Thorsten Beck, Mohammad Hoseini, 23 June 2013

a

A

For better or worse, the 2008 financial crisis has put the financial sector again at the centre of public debate. Several commentators have suggested that financial liberalisation contributed both to the financial crisis and to growing income inequality (e.g.

Topics: International finance
Tags: financial development, India

Interest groups and government capabilities matter for financial development

Eduardo Cavallo, Carlos Scartascini, 12 May 2012

a

A

The debate on the benefits and limits of financial development has come to the fore with the global financial crisis. The fact that the epicentre of the global financial crisis was in countries with developed credit markets has led some commentators to argue that financial development may have gone too far.

Topics: Development, International finance, Politics and economics
Tags: developing countries, emerging markets, financial development, institutions

Finance, long-run growth, and economic opportunity

Ross Levine, 25 October 2011

a

A

Finance is powerful. The financial system can be an engine of economic prosperity – or a destructive cause of economic decline and misery.

Topics: Financial markets, International finance
Tags: economic growth, financial development, financial innovation

Sovereign defaults, banks and financial institutions

Nicola Gennaioli, Alberto Martin, Stefano Rossi, 17 November 2010

a

A

Recent sovereign defaults highlight a close link between government default and financial sector turmoil, where banks often take centre stage. In the Russian default of 1998 the government's suspension of debt payments triggered large losses on the balance sheets of Russian banks, which had heavily invested in public bonds.

Topics: Global crisis, International finance
Tags: Debt crisis, default, financial development, Fiscal crisis

Can financial sector reform help bring informal firms into the formal sector?

Thorsten Beck, Chen Lin, Yue Ma, 13 October 2010

a

A

While the global crisis has amply demonstrated the economic fragilities that a highly evolved financial sector can create, it is important not to “throw the baby out with the bath water”. The financial sector is critical to the economy. The important connection between financial development and growth is supported by a growing literature (Levine 2005).

Topics: Development, Taxation
Tags: financial development, informal sector, tax evasion, taxation

“Mother, can I trust the government?” Stable democracies are more likely to enjoy sustained financial development

Marc Quintyn , Geneviève Verdier, 23 September 2010

a

A

The epicentre of the global crisis can be traced to the world’s most developed financial systems, but few would consider this enough to challenge the broad consensus that financial development is good for economic growth.

Topics: Development, Financial markets, Politics and economics
Tags: democracy, financial development, institutions

The policy roots of finance

Giuseppe Bertola, Anna Lo Prete, 20 May 2010

a

A

Finance boomed for quite some time. And then it crashed. To understand what might happen as the world begins to emerge from the crisis, we need to try and understand where finance came from. At the global level, finance grew along with international economic integration at the turn of this century, as well as at the beginning of the 20th century.

Topics: Global economy, International finance
Tags: financial deregulation, financial development, openness

The crisis and the developing countries

Fabrizio Coricelli, 1 May 2010

a

A

Economists and policymakers are still debating the causes of the global crisis and the prospects for recovery in the world economy (see the excellent column by Berkmen et al. 2010 on this site). But one point of agreement is that emerging economies have so far have weathered the crisis much better than advanced countries.

Topics: Development, Global crisis, International trade, Migration
Tags: Africa, developing countries, financial development, global crisis, migration

Vox eBooks

Events