Financial Development (Record no. 141607)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02395cam a22003734a 4500 |
| 001 - CONTROL NUMBER | |
| control field | 5854 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | The World Bank |
| 006 - FIXED-LENGTH DATA ELEMENTS--ADDITIONAL MATERIAL CHARACTERISTICS--GENERAL INFORMATION | |
| fixed length control field | m d |
| 007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION | |
| fixed length control field | cr cn||||||||| |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 020129s2011 dcu i001 0 eng |
| 024 8# - OTHER STANDARD IDENTIFIER | |
| Standard number or code | 10.1596/1813-9450-5854 |
| 035 ## - SYSTEM CONTROL NUMBER | |
| System control number | (The World Bank)5854 |
| 100 1# - MAIN ENTRY--PERSONAL NAME | |
| Personal name | De la Torre, Augusto |
| 245 10 - TITLE STATEMENT | |
| Title | Financial Development |
| Medium | [electronic resource] : |
| Remainder of title | Structure and Dynamics / |
| Statement of responsibility, etc | De la Torre, Augusto |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | Washington, D.C., |
| Name of publisher, distributor, etc | The World Bank, |
| Date of publication, distribution, etc | 2011 |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 1 online resource (35 p.) |
| 520 3# - SUMMARY, ETC. | |
| Summary, etc | This paper analyzes the bright and dark sides of the financial development process through the lenses of the four fundamental frictions to which agents are exposed-information asymmetry, enforcement, collective action, and collective cognition. Financial development is shaped by the efforts of market participants to grind down or circumvent these frictions, a process further spurred by financial innovation and scale and network effects. The analysis leads to broad predictions regarding the sequencing and convexity of the dynamic paths for a battery of financial development indicators. The method used also yields a robust way to benchmark the financial development paths followed by individual countries or regions. The paper explores the reasons for path deviations and gaps relative to the benchmark. Demand-related effects (past output growth), financial crashes, and supply-related effects (the quality of the enabling environment) all play an important role. Informational frictions are easier to overcome than contractual frictions, not least because of the transferability of financial innovation across borders. |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Access to Finance |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Banks & Banking Reform |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Benchmarking |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Debt Markets |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Economic Theory & Research |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Emerging Markets |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Finance and Financial Sector Development |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Finance and growth |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Financial development |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Financial stability |
| 700 1# - ADDED ENTRY--PERSONAL NAME | |
| Personal name | De la Torre, Augusto |
| 700 1# - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Feyen, Erik |
| 700 1# - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Ize, Alain |
| 776 18 - ADDITIONAL PHYSICAL FORM ENTRY | |
| Main entry heading | Print version: |
| Display text | De la Torre, Augusto. |
| Title | Financial Development. |
| Place, publisher, and date of publication | Washington, D.C., The World Bank, 2011 |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | Policy research working papers. |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | World Bank e-Library. |
| 856 40 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-5854">http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-5854</a> |
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