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markets. "--World Bank web site …
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The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher … Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them …
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Financial sector development fosters economic growth and reduces poverty by widening and broadening access to finance and allocating society's savings more efficiently. The author first discusses three pillars on which sound and efficient financial systems are built: macroeconomic stability and...
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This paper discusses the different functions that capital markets and banks have in economic development, and it reviews the debate about marketbased vs. bank-based financial systems. Using data for a sample of 40 countries over the period 1975-98, the paper then shows that variation in both...
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