Finance & Private Sector Development

July 7, 2023

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.



Trade Credit: Theory and Evidence for Emerging Economies and Developing Countries
Robert Cull, Chorching Goh, L. Colin Xu
World Bank Policy Research Working Paper 10468, June 2023

How Do Borrowers Respond to a Debt Moratorium? Experimental Evidence from Consumer Loans in India
Stefano Fiorin, Joseph Hall, Martin Kanz
10358, March 2023

The Importance of Financial Education for the Effective Use of Formal Financial Services
Saniya Ansar, Leora Klapper, Dorothe Singer
World Bank Policy Research Working Paper 10345, March 2023

Bayesian Impact Evaluation with Informative Priors: An Application to a Colombian Management and Export Improvement Program
Leonardo Iacovone, David McKenzie, Rachael Meager
World Bank Policy Research Working Paper 10274, January 2023

Climate Change Regulations: Bank Lending and Real Effects
Faruk Miguel, Alvaro Pedraza, Claudia Ruiz-Ortega
World Bank Policy Research Working Paper 10270, December 2022 

Global Bank Lending under Climate Policy
Asli Demirguc-Kunt, Alvaro Enrique Pedraza Morales, Fredy Pulga, Claudia Ruiz Ortega
World Bank Policy Research Working Paper 10266, December 2022

Capacity Building as a Route to Export Market Expansion: A Six-Country Experiment in the Western Balkans
Ana Paula Cusolito, Ornella Darova, David J. Mckenzie
World Bank Policy Research Working Paper 10256, December 2022

More Working Papers


Banking with Agents: Experimental Evidence from Senegal
Xavier Gine, Sinja Buri, Robert Cull, Sven Harten, Soren Heitmann
Economic Development and Cultural Change, 2023 | Working Paper Version

Efficient Irrigation and Water Conservation: Evidence from South India
Ram Fishman, Xavier Gine, Hanan G. Jacoby
Journal of Development , vol. 162: 103051, May 2023 | Working Paper Version

Political Survival, Local Accountability, and Long-Term Development: Evidence from an Authoritarian Country
Hanming Fang, Linke Hou, Mingxing Liu, L. Colin Xu, Pengfei Zhang
Journal of Comparative Economics, vol. 51 (1), March 2023 

How should the government bring small firms into the formal system? Experimental evidence from Malawi
Francisco Campos, Markus Goldstein, David McKenzie 
Journal of Development Economics, vol. 161: 103045, March 2023 | Working Paper Version

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, January 2023 | Working Paper Version

COVID-19 and Changes in Intentions to Migrate from The Gambia
Tijan L BahCatia BatistaFlore GubertDavid McKenzie
Journal of African Economies, December 2022 | Working Paper Version





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 »