Global Financial Development Report 2014 is the second in a new World Bank series, following the inaugural 2013 Global Financial Development Report, which re-examined the state’s role in finance after the global financial crisis. Common to both reports is that they present a nuanced approach to financial sector policy, grounded in a synthesis of new research evidence. The report presents new data and research, drawing on them to contribute to the policy discussion. It highlights novel evidence that financial inclusion can reduce poverty and boost shared prosperity.
The worldwide financial crisis brought into relief the role of financial systems in economic development and poverty reduction. The World Bank’s first-ever Global Financial Development Report contributes to the policy debates on this topic, building on new datasets, surveys, research and country experience, emphasizing the perspective of low- and middle-income countries. The report re-examines a basic question highlighted by the crisis: what is the proper role of the state in financial development?
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