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This is the first broad cross-country assessment of the ties between financial structure--the mix of financial instruments, institutions, and markets in a given economy--and economic growth since Raymond Goldsmith's 1969 landmark study. Most studies focus on developed countries and compare bank-based and market-based systems. Debates over the relative merits of the two systems have relied on case studies of Germany, Japan, the United Kingdom, and the United States, countries with similar long-run growth rates. The absence of data on developing countries limits the usefulness of such studies for policy makers.The book contains recently acquired cross-country data from almost 150 countries. It includes information on the size, efficiency, and activity of banks, insurance companies, pension and mutual funds, finance companies, and stock and bond markets. It also incorporates information on each country's political, economic, and social environment. The chapters contain a mix of case studies, cross-country studies, macro- and micro-oriented approaches, and analytical and empirical work. The conclusions point not to markets versus banks, but to markets and banks. It is how well a financial system functions that is critical for long-run economic growth. The research suggests that strong legal rights for outside investors and the overall efficiency of contract enforcement are effective tools for developing the financial sector and the economy. The book includes a CD containing World Bank data.

Banks and banking --- Financial institutions --- Stock exchanges --- Economic development --- Finance --- Business & Economics --- Banking --- Bulls and bears --- Commercial corners --- Corners, Commercial --- Equity markets --- Exchanges, Securities --- Exchanges, Stock --- Securities exchanges --- Stock-exchange --- Stock markets --- Financial intermediaries --- Lending institutions --- Agricultural banks --- Banking industry --- Commercial banks --- Depository institutions --- Capital market --- Efficient market theory --- Speculation --- Associations, institutions, etc. --- Money --- Bancos --- Estudio de casos. --- Instituciones financieras --- Bolsa de valores --- Desarrollo económico --- ECONOMICS/Finance --- ECONOMICS/Trade & Development --- ECONOMICS/International Economics

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This volume assembles and presents a database on bank regulation in over 150 countries (included also on CD). It offered the first comprehensive cross-country assessment of the impact of bank regulation on the operation of banks, and assesses the validity of the Basel Committee's influential approach to bank regulation. The treatment also provides an empirical evaluation of the historic debate about the proper role of government in the economy by studying bank regulation and analyzes the role of politics in determining regulatory approaches to banking. The data also indicate that restrictions on the entry of banks, government ownership of banks, and restrictions on bank activities hurt banking system performance. The authors find that domestic political factors shape both regulations and their effectiveness.

AA / International- internationaal --- 333.139.2 --- 333.139.0 --- 347.734 --- Banking law --- Banks and banking --- -Banks and banking --- -346.082 --- Hb2 --- Law, Banking --- Financial institutions --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Money --- Bankcontrole en -reglementering. Reglementering van het bankberoep. --- Controle en nationalisatie van de banken: algemeen. --- Bank- en spaarinstellingen (recht). --- State supervision --- Government policy --- Law and legislation --- Banking law. --- Government policy. --- State supervision. --- 346.082 --- 336.71 --- 336.71 Bankwezen --- Bankwezen --- Controle en nationalisatie van de banken: algemeen --- Bankcontrole en -reglementering. Reglementering van het bankberoep --- Bank- en spaarinstellingen (recht) --- Private finance --- Business, Economy and Management --- Economics --- Banks and banking - State supervision --- Banks and banking - Government policy --- Acqui 2006 --- -State supervision