Finance & Private Sector Development

March 12, 2024

A well-functioning financial system and a vigorous private sector are important drivers of growth and poverty reduction. Finance is central to private sector development and vice versa, and large parts of both sub-disciplines revolve around the behavior and performance of firms.



Government Support and Firm Performance during COVID-19
Miriam Bruhn, Asli Demirguc-Kunt, Dorothe Singer
World Bank Policy Research Working Paper 10641, December 2023

Banking in Africa: Opportunities and Challenges in Volatile Times
Thorsten Beck, Robert J. Cull, Davide Salvatore Mare, Patricio Valenzuela
World Bank Policy Research Working Paper 10632, December 2023

Migration, families, and counterfactual families
Simone Bertoli, David J. Mckenzie, Elie Murard
World Bank Policy Research Working Paper 10626, December 2023

Is There Still A Role for Direct Government Support to Firms in Developing Countries?
David J. Mckenzie
World Bank Policy Research Working Paper 10628, December 2023

Digital Payments and the COVID-19 Shock: The Role of Preexisting Conditions in Banking, Infrastructure, Human Capabilities, and Digital Regulation
Robert J. Cull, Vivien Foster, Dean Mitchell Jolliffe, Daniel Lederman, Davide Salvatore Mare, Malarvizhi Veerappan
World Bank Policy Research Working Paper 10603, November 2023

Job Training and Job Search Assistance Policies in Developing Countries
Eliana Carranza, David J. Mckenzie
World Bank Policy Research Working Paper 10576, September 2023

Training Microentrepreneurs over Zoom: Experimental Evidence from Mexico
Elwyn Adriaan Robin Davies, Peter William Deffebach, Leonardo Iacovone, David J. Mckenzie
World Bank Policy Research Working Paper 10574, September 2023

More Working Papers


Fears and Tears: Should More People Be Moving within and from Developing Countries, and What Stops this Movement?
David McKenzie
The World Bank Research Observer, vol. 39, February 2024 | Working Paper Verison

Estimating the demand for business training: Evidence from Jamaica 
Alessandro Maffioli, David McKenzie, Diego Ubfal
Economic Development and Cultural Change, vol. 72, October 2023 | Working Paper Version

Can Information and Alternatives to Irregular Migration Reduce 'Backway' Migration from the Gambia?
Tijan L. Bah, Catia Batista, Flore Gubert, David McKenzie
Journal of Development Economics, vol. 165, October 2023 | Working Paper Version

Active Trading and (Poor) Performance: The Social Transmission Channel
Laura Escobar, Alvaro Pedraza
Journal of Financial Economics, vol. 150, October 2023 | Working Paper Version

Capacity Building as a Route to Export Market Expansion: A Six-Country Experiment in the Western Balkans
Ana P. Cusolito, Ornella Darova, David McKenzie
Journal of International Economics, vol. 144, September 2023 | Working Paper Version

System-, Teacher-, and Student-level Interventions for Improving Participation in Online Learning at Scale in High Schools
Igor Asanov, Anastasiya-Mariya Asanov (Noha), Thomas Åstebro, Guido Buenstorf,  Bruno Crépon, Francisco Pablo Flores, David McKenzie, Mona Mensmann, Mathis Schulte
Proceedings of the National Academy of Sciences (PNAS), July 2023 | SIEF Workshop



Handbook of Microfinance, Financial Inclusion, and Development
This timely Handbook collates a range of evidence from top scholars in the field to help readers understand who microfinance reaches, how it helps, and why clients come back. It offers updated views on important concepts that enable a broader framework for understanding poverty and the corresponding financial needs of poor households.


World Development Report 2022: Finance for an Equitable Recovery
World Development Report 2022: Finance for an Equitable Recovery examines the central role of finance in the economic recovery from the pandemic. 

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The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19
The 2021 edition of the Global Findex Database contains updated indicators on access to and use of formal and informal financial services and digital payments, and offers insights into the behaviors that enable financial resilience.

The Global Findex Database 2021 |  Blog Post |  Video |  Press Release |  Download Report |  Executive Summary


World Development Report 2021: Data for Better Lives 
This report explores the tremendous potential of the changing data landscape to improve the lives of poor people, while also acknowledging its potential to open back doors that can harm individuals, businesses, and societies. 

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GFDR 2020 book and globe image

Global Financial Development Report 2019 / 2020: Bank Regulation and Supervision a Decade after the Global Financial Crisis
Drawing on 10 years of data and analysis, the 5th edition of the report reflects on the causes of the crisis and the regulatory remedies adopted to prevent future financial troubles.

Report |  Video |  Dataset |  Blog |  Previous Reports



Robert Cull

World Development Report 2021 Co-Director and Research Manager, Finance and Private Sector
Research Staff »