Summary of Global Financial Development Report 2013
Rethinking the Role of the State in Finance
World Bank, 2012
In the aftermath of the 2008 crisis, what matters is how – not whether – governments intervene in finance.
In the time since the global economic crisis began, much debate has centered on the role of government in the financial sector, but many of these discussions tend to veer off into political and ideological territories. Researchers at the World Bank take an evidence-based approach to the subject, relying on academic studies, field experiments and multicountry surveys to assess, from a developmental standpoint, the successes and failures of government intervention in national economies. While the World Bank’s focus tends to be on developing nations, its analysts and experts juxtapose their primary research with data on developed economies to provide an overall picture. The report is more descriptive than prescriptive, but it concludes that government does work – at specific stages of economic development, for certain lengths of time, and in measured, thoughtful ways. getAbstract recommends this scholarly treatise to policy makers, economists, and students of finance and economic development.
In this summary, you will learn
- How governments interact with financial markets and infrastructures,
- How effectively state intervention has worked in developing countries, and
- What the latest research says about government involvement in the financial sector.
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