Financial Development

This research theme explores empirical evidence for policies that help develop the financial sector, while safeguarding financial sector stability in a globalized world.

Finance for Poverty Reduction and Shared Prosperity
Islamic Banking and Financial Stability

Finance for Poverty Reduction and Shared Prosperity
Islamic Banking and Financial Stability

The research from this program is designed to provide new micro-level evidence in four areas:

the linkages between finance and growth,
the contribution of finance to risk and volatility both on the domestic and international front, which can have implications for economic growth and for the income and welfare of the poor,
the links between financial development and inclusion with income inequality, and
the nature of financial products better tailored to the needs of the poor which can impact shared prosperity.

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What explains the demand for status goods?

Do firms benefit from capital inflows

Information Disclosure—The power of standardization

In many countries, the use of Islamic financial products is an important and rapidly growing pillar of household finance. While the growth of Islamic finance is likely to enhance financial inclusion, it may also have effects on financial sector performance and stability more generally. .

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