The Process of Financial Development : A Statistical View from the FSAP Program

This paper uses a simple statistical approach to exploit some of the wealth of information contained in FSAP reports. The authors classify and count FSAP recommendations along a logical grid that reflects the fabric of financial activity and the ways in which states organize their policies in support of financial development. With some caveats reflecting the inherent limitations of the exercise, this analysis provides a simple monitoring tool to help understand the nature and evolution of the FSAP program. At the same time, it throws light on the nuts and bolts of the process of financial development and its inter-linkages with economic development. While many of the findings conform well to what one would expect, others are more surprising and also potentially more useful for understanding the inner workings of financial development.

Bibliographic Details

Main Authors:	Ize, Alain, Pardo, Rafael, Zekri, Sarah
Format:	Policy Research Working Paper biblioteca
Language:	English
Published:	World Bank, Washington, DC 2008-05
Subjects:	ACCOUNTABILITY, ACCOUNTING, ACCOUNTING STANDARDS, ASSET MANAGEMENT, AUDITING, BANK RESTRUCTURING, BANKING CRISIS, BANKING REGULATION, BANKING SUPERVISION, BROKER, BROKERS, CAPACITY BUILDING, CAPITAL MARKETS, CENTRAL ASIAN, CENTRAL BANK, CENTRAL BANKS, CHECK CLEARING, CHECKS, CONSOLIDATED SUPERVISION, CONSOLIDATION, CONSUMER, CONSUMER PROTECTION, CONSUMERS, CONTINGENCY, CONTINGENCY PLANNING, CONTRIBUTIONS, COORDINATION FAILURES, CORPORATE GOVERNANCE, CREDITOR, CREDITOR RIGHTS, CRISIS MANAGEMENT, CURRENCY, DEBT OBLIGATIONS, DEBT POLICY, DEBTOR, DEBTORS, DEPOSIT, DEPOSIT INSURANCE, DEPOSIT INSURANCE SCHEMES, DEVELOPMENT BANKS, DEVELOPMENT PATH, DEVELOPMENT STRATEGIES, DUMMY VARIABLE, ECONOMIC DEVELOPMENT, ENABLING ENVIRONMENT, FACTORING, FINANCE COMPANIES, FINANCIAL ACTIVITY, FINANCIAL CONTRACTS, FINANCIAL CRISES, FINANCIAL DEVELOPMENT, FINANCIAL DEVELOPMENTS, FINANCIAL INSTITUTIONS, FINANCIAL INTERMEDIATION, FINANCIAL POLICY, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FOREIGN EXCHANGE, FOREIGN EXCHANGE MANAGEMENT, FOREIGN EXCHANGE MARKET, GOVERNANCE CAPACITY BUILDING, GOVERNMENT GUARANTEES, HOUSING, HUMAN RESOURCES, INCOME, INCOME LEVEL, INCOME LEVELS, INSTITUTIONAL CAPACITY, INSTITUTIONAL ENVIRONMENT, INSURANCE, INSURANCE COMPANIES, INSURANCE PENSIONS, INTERNATIONAL BANK, INTERNATIONAL RESERVE, INVESTMENT FUNDS, INVESTMENT INSTRUMENTS, LATIN AMERICAN, LEGAL ENVIRONMENTS, LEGAL FRAMEWORK, LEGISLATION, LENDER, LENDER OF LAST RESORT, LIQUIDITY, LIQUIDITY MANAGEMENT, LOW INCOME, LOWER INCOME, MANPOWER, MARKET COMPETITION, MARKET DEVELOPMENT, MARKET PARTICIPANTS, MARKET PERFORMANCE, MARKET STRUCTURE, MICROFINANCE, MICROFINANCE INSTITUTIONS, MICROFINANCE ­ REGULATION, MIDDLE EAST, MONETARY POLICY, MONEY LAUNDERING, MONEY MARKET, MORAL HAZARD, MOVABLE COLLATERAL, NORTH AFRICA, OPEN-MARKET OPERATIONS, PAYMENTS SYSTEM, PAYMENTS SYSTEMS, PENSION, PENSION FUNDS, PENSION SCHEMES, PENSION SYSTEMS, PENSIONS, PLEDGES, POLICY RESPONSE, POST OFFICE, PRIMARY MARKET, PRIVATE FINANCIAL INTERMEDIARIES, PRIVATE PENSION, PRIVATE PENSIONS, PRIVATIZATION, PROPERTY RIGHTS, PROVISION OF GUARANTEES, PUBLIC BANKS, PUBLIC DEBT, PUBLIC DEBT MANAGEMENT, PUBLIC PENSION, PUBLIC PENSION SCHEMES, PUBLIC POLICIES, PUBLIC POLICY, RAPID DEVELOPMENT, REAL ESTATE, REGIONAL DUMMIES, REGRESSION ANALYSIS, REGULATORY FRAMEWORK, RESERVE, RESERVE REQUIREMENTS, RESOURCE MANAGEMENT, RETAIL BANKING, RETURNS, RISK MANAGEMENT, SAVINGS, SECONDARY MARKET, SECURITIES, SECURITY MARKETS, SETTLEMENT, SHAREHOLDERS, SOCIAL SECURITY, STAKEHOLDERS, STATE ENTERPRISES, STATE INTERVENTION, STATISTICAL ANALYSIS, SUPERVISORY FRAMEWORK, TAX, TAX POLICY, TAXATION, TRADES, TRADING, TRANSACTION, TRANSITION ECONOMIES, TRANSPARENCY, USE OF COLLATERAL, USURY LAWS, VOLATILITY, WORTH, YIELD CURVE,
Online Access:	http://documents.worldbank.org/curated/en/2008/05/9458047/process-financial-development-statistical-view-fsap-program http://hdl.handle.net/10986/6684
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