Finance and Growth—Policy Choices under Turbulent Conditions

Author: World Bank Report Group
Publisher:
Publish Date: 2001-11-01
Features: This book argues for some long-held views while also challenging certain established perceptions. Some scholars have long believed that finance has little to do with poverty reduction; however, this report provides ample evidence demonstrating that financial development plays a strong and unique role in promoting economic prosperity. Therefore, countries that establish secure institutional environments for financial contracts and ensure the vibrancy of securities markets will achieve significant results in the fight against poverty. The financial reforms proposed in this book, if implemented, will have broad and often intangible impacts on economic prosperity. At the same time, they may face strong opposition from powerful interest groups. The outcome of this struggle is of great importance. The World Bank Group will continue to work with member countries, based on empirical evidence and best practices from other nations, to help them design relevant policies and formulate and implement reform plans.