Risks and Returns
Regular price
€34.99
Regular price
€42.99
Sale
Sale price
€34.99
14 days return policy
Shipping & Delivery
A01=David Michael Gould
A01=Martin Melecky
A01=World Bank
Age Group_Uncategorized
Age Group_Uncategorized
Author_David Michael Gould
Author_Martin Melecky
Author_World Bank
automatic-update
banks
Capital markets
Category1=Non-Fiction
Category=KC
Category=KCX
Category=KFFD
Category=KFFK
COP=United States
credit
Delivery_Delivery within 10-20 working days
eq_bestseller
eq_business-finance-law
eq_isMigrated=0
eq_isMigrated=2
eq_nobargain
eq_non-fiction
financial efficiency
financial inclusion
financial sector
financial stability
Inclusive growth
insurance
Language_English
PA=Available
policy tradeoffs
Price_€20 to €50
PS=Active
savings
softlaunch
Supervisory structures
Synergies in finance
Product details
- ISBN 9781464809675
- Weight: 735g
- Dimensions: 203 x 264mm
- Publication Date: 27 Jan 2017
- Publisher: World Bank Publications
- Publication City/Country: US
- Product Form: Paperback
- Language: English
Secure
checkout
Fast Shipping
Easy returns
During the 1990s, Emerging Europe and Central Asia (ECA) chose a model of rapid financial development emphasizing bank credit expansion often funded by foreign capital. Although boosting financial inclusion of firms and households, the model was accompanied by lower efficiency and increased financial vulnerability. After two waves of crises, in the late 1990s and after 2008, ECA’s banking systems again face major stress. The crises and stresses have eroded trust in banks and job creation in credit-dependent firms. ECA’s shallow and illiquid capital markets offer no additional support. Stagnating income growth, particularly of middle- to lower-income earners, has led to increasing dissatisfaction with low productivity growth and limited opportunities. This frustration provides the impetus for reshaping financial policies. A healthy and balanced financial sector could strengthen structural adjustment in ECA’s eastern, oil-dependent economies and innovation in its western countries. Risks and Returns: Managing Financial Trade-Offs for Inclusive Growth in Europe and Central Asia argues for reaching beyond increasing access to credit. ECA countries must build integrated financial systems, enabling prudent financial inclusion in a region significantly lagging in the use of saving products. Striking the right balance across all dimensions of financial development (stability, efficiency, inclusion, and overall depth) is crucial for achieving and sustaining inclusive growth. Redesigning financial policy involves addressing trade-offs often overlooked in the past. Too much credit and imprudent financial inclusion have led to banking crises. Overly stringent regulation to foster financial stability has hindered inclusion and efficiency gains. Both shortfalls have had negative consequences for shared prosperity. Risks and Returns discusses tools and approaches to help policy makers achieve balanced financial development.
