Emerging Issues In Financial Development

This book synthesizes the results of a comprehensive analysis of the status, prospects, and challenges of sustainable financial development in Latin America, as well as the lessons for developed and developing countries.

Contemporary Issues in Development Finance provides comprehensive and up-to-date coverage of theoretical and policy issues in development finance from both the domestic and the external finance perspectives and emphasizes addressing the gaps in financial markets. The chapters cover topical issues such as microfinance, private sector financing, aid, FDI, remittances, sovereign wealth, trade finance, and the sectoral financing of agricultural and infrastructural projects. Readers will acquire both breadth and depth of knowledge in critical and contemporary issues in development finance from a philosophical and yet pragmatic development impact approach. The text ensures this by carefully integrating the relevant theoretical underpinnings, empirical assessments, and practical policy issues into its analysis. The work is designed to be fully accessible to practitioners with only a limited theoretical economic background, allowing them to deeply engage with the book as useful reference material. Readers may find more advanced information and technical details provided in clear, concise boxes throughout the text. Finally, each chapter is fully supported by a set of review questions and by cases and examples from developing countries, particularly those in Africa. This book is a valuable resource for both development finance researchers and students taking courses in development finance, development economics, international finance, financial development policy, and economic policy management. Practitioners will find the development impact, policy, and conceptual analysis dimensions insightful analysing and designing intervention strategies.

"Emerging Issues in Economics of Development, Business and Finance is a resource for academia, practitioners, and policymakers seeking to take part in the discourses of various most updated issues within the shared prolific intersection of the three domains. It discusses headline topics such as how internet penetration and quality may improve a country's productivity, how usage of big data can predict customer churn, how connection with global value chain may stimulate demand for worker, how prominence of CSR disclosure in optimizing firm value along with the reflections of other thought-provoking topics. The configuration of this edited volume manifests the concerted connection between economics of development, business and finance in its four parts, which offer thorough investigation-based evidence on investment, technology and human capital development; corporate social responsibility, big data, and customer behaviour; reporting, auditing, business financial performance; and finance and banking. Articles in these chapters are also completed with executable managerial and policy implications providing handiness to business leaders and policymakers to walk the talk without getting overinvolved with texts and numbers"--

This paper argues that the dominant policy paradigm on financial development is increasingly insufficient to address big emerging issues that are particularly relevant for financial systems in Latin America. This paradigm was shaped over the past decades by a fundamental shift in thinking toward market-based financial development and a complex process of financial crises interpretation. The result has been a richly textured policy paradigm focused on promoting financial stability and the convergence to international standards. It argues, however, that there is a growing dissonance between the current paradigm and the emerging issues, which is illustrated by discussing challenges in three areas: stock markets, small and medium enterprise loans, and defined-contribution pension funds. The paper concludes that the dominant policy paradigm is ill-suited to provide significant guidance in relation to the big emerging issues. It emphasizes the need to take a fresh look at the evidence, improve the diagnoses, revisit expectations, and revise the paradigm.

Despite its success to date, the People's Republic of China (PRC) faces some major challenges in finance sector development. Like all success stories, the PRC is finding it increasingly di cult to maintain momentum. The finance industry needs greater involvement from the private sector, including input in decision making. Achieving the desired outcomes will require a careful balance between the pace at which controls are removed and that at which the regulatory and legal infrastructure is strengthened. Long-term success will also require that economic growth be inclusive, with financial services available to all members of society.

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 effective and reliable contractual and informational frameworks. He then describes three different approaches to government involvement in the financial sector: the laissez-faire view, the market-failure view and the market-enabling view. Finally, the author analyzes the sequencing of financial sector reforms and discusses the benefits and challenges that emerging markets face when opening their financial systems to international capital markets.

In this new book a group of 18 distinguished authors presents comprehensive surveys of current issues in the field of finance and development. . . This book nicely bridges the gap between general research on the role of finance for economic growth and the role finance plays for developing economies and poverty reduction. . . Moreover, the authors identify a great number of promising ideas for future research. . . Ryszard Kokoszczynski, SUERF Newsletter The European Money & Finance Forum In the last two decades, the role of finance in the development process has become a major topic of research and debate. Although it is widely agreed that there is an important link between the two, there is much less consensus on the exact nature of the relationship. Is financial development a prerequisite for general economic development, or is it a more passive by-product of the development process? In this valuable new book, a distinguished group of authors takes stock of the existing state of knowledge in the field of finance and the development process. Each chapter offers a comprehensive survey and synthesis of current issues. These include such critical subjects as savings, financial markets and the macroeconomy, stock market development, financial regulation, foreign investment and aid, financing livelihoods, microfinance, rural financial markets, small and medium enterprises, corporate finance and banking. This book will be accessible to postgraduate and advanced undergraduate students of finance and development. It will also be an essential reference source for all professionals and academics working in this area who want to learn how finance can contribute to the development process and poverty reduction.

This collection of conference papers presents a contemporary insight into key trends impacting on the global financial sector post crisis and highlights new policy and research areas affecting banks and other financial institutions. The four main themes are: financial crises, credit activity, capital markets and risk management.