Contractual Savings in Countries with a Small Financial Sector
Countries with small financial systems are generally small economies with a reduced dimension of institutional relationships, a greater concentration of wealth, and a relatively less independent civil service. These characteristics facilitate conce...
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World Bank, Washington, D.C.
2013
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Online Access: | http://documents.worldbank.org/curated/en/2002/05/1781148/contractual-savings-countries-small-financial-sector http://hdl.handle.net/10986/14289 |
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okr-10986-142892021-04-23T14:03:20Z Contractual Savings in Countries with a Small Financial Sector Impavido, Gregorio Musalem, Alberto R. Vittas, Dimitri CONTRACTUAL SAVINGS FINANCIAL SECTOR FINANCIAL SYSTEMS GOVERNANCE WEALTH PER CAPITA INCOME BANKING SYSTEMS INSURANCE COMPANIES MACROECONOMIC POLICY CAPITAL ACCOUNT PENSION SYSTEMS CONTINGENCY FINANCING SAVINGS RISK MANAGEMENT GOVERNMENT COMMITMENTS GOVERNMENT REGULATION SUPERVISION COMPETITIVENESS INTERNATIONAL INVESTMENTS ADVERSE EFFECTS AGENTS ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSETS BANK DEPOSITS BANKING CRISES BANKING SYSTEM BANKING SYSTEMS BANKS BONDS CAPITAL FLOWS CAPITAL MARKETS CENTRAL BANK CIVIL SERVICE COMMISSIONS CONSOLIDATION CONTINGENT LIABILITIES CONTRACTUAL SAVING CONTRACTUAL SAVINGS CONTRACTUAL SAVINGS INSTITUTIONS COST OF CAPITAL COVERAGE DEBT DISCOUNT RATE ECONOMIC GROWTH ECONOMIES OF SCALE EQUITY INVESTMENTS EXCHANGE RATE EXPORTS EXTERNALITIES FIDUCIARY FIDUCIARY RESPONSIBILITY FINANCIAL CRISES FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL POLICIES FINANCIAL RISK FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FISCAL POLICIES FOREIGN BANKS FREE TRADE GDP GDP PER CAPITA GOVERNMENT BONDS GOVERNMENT SECURITIES HOUSING HUMAN CAPITAL IMPORTS INDIVIDUAL ACCOUNTS INFLATION INSPECTIONS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INTEGRITY INTEREST RATE INTEREST RATES INTERNATIONAL FINANCIAL INSTRUMENTS LABOR FORCE LABOR MARKETS LIBERALIZATION LIFE INSURANCE LIQUID ASSETS LIQUIDATION LIQUIDITY LONG TERM LIABILITIES LONG TERM SAVINGS M2 MACROECONOMIC POLICIES MACROECONOMIC POLICY MANDATES MARKET INSTRUMENTS MARKETABLE SECURITIES MATURITIES MERGERS OPEN ECONOMIES OPERATING COSTS PAYMENT SYSTEMS PENSION FUNDS PENSIONS PER CAPITA INCOME POLICY MAKERS PRIVATE CONSUMPTION PROGRAMS PROVIDENT FUNDS REAL SECTOR RETIREMENT RISK DIVERSIFICATION RISK MANAGEMENT RISK PREMIUM SAVING PLANS SAVINGS SECURITIES MARKETS SELF INSURANCE SOCIAL SECURITY SOLVENCY SUBSIDIARIES SUNK COSTS SUPERVISORY AGENCIES SUPERVISORY FRAMEWORK TERMS OF TRADE TRANSACTION COSTS UNEMPLOYMENT VALUATION VALUE ADDED WEALTH Countries with small financial systems are generally small economies with a reduced dimension of institutional relationships, a greater concentration of wealth, and a relatively less independent civil service. These characteristics facilitate concentration of functions and, more generally, weak governance. Only small economies with a relatively high level of per capita income, minimum core of sound banks and insurance companies, sound and credible macroeconomic policies, and open capital accounts can benefit from the development of contractual savings. This can increase the options to obtain sound coverage against contingencies, increase the supply of long term savings, promote financial deepening, and improve financial risk management. 2013-06-28T13:29:36Z 2013-06-28T13:29:36Z 2002-05 http://documents.worldbank.org/curated/en/2002/05/1781148/contractual-savings-countries-small-financial-sector http://hdl.handle.net/10986/14289 English en_US Policy Research Working Paper;No.2841 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, D.C. Publications & Research :: Policy Research Working Paper Publications & Research |
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Digital Repository |
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Foreign Institution |
institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
language |
English en_US |
topic |
CONTRACTUAL SAVINGS FINANCIAL SECTOR FINANCIAL SYSTEMS GOVERNANCE WEALTH PER CAPITA INCOME BANKING SYSTEMS INSURANCE COMPANIES MACROECONOMIC POLICY CAPITAL ACCOUNT PENSION SYSTEMS CONTINGENCY FINANCING SAVINGS RISK MANAGEMENT GOVERNMENT COMMITMENTS GOVERNMENT REGULATION SUPERVISION COMPETITIVENESS INTERNATIONAL INVESTMENTS ADVERSE EFFECTS AGENTS ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSETS BANK DEPOSITS BANKING CRISES BANKING SYSTEM BANKING SYSTEMS BANKS BONDS CAPITAL FLOWS CAPITAL MARKETS CENTRAL BANK CIVIL SERVICE COMMISSIONS CONSOLIDATION CONTINGENT LIABILITIES CONTRACTUAL SAVING CONTRACTUAL SAVINGS CONTRACTUAL SAVINGS INSTITUTIONS COST OF CAPITAL COVERAGE DEBT DISCOUNT RATE ECONOMIC GROWTH ECONOMIES OF SCALE EQUITY INVESTMENTS EXCHANGE RATE EXPORTS EXTERNALITIES FIDUCIARY FIDUCIARY RESPONSIBILITY FINANCIAL CRISES FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL POLICIES FINANCIAL RISK FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FISCAL POLICIES FOREIGN BANKS FREE TRADE GDP GDP PER CAPITA GOVERNMENT BONDS GOVERNMENT SECURITIES HOUSING HUMAN CAPITAL IMPORTS INDIVIDUAL ACCOUNTS INFLATION INSPECTIONS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INTEGRITY INTEREST RATE INTEREST RATES INTERNATIONAL FINANCIAL INSTRUMENTS LABOR FORCE LABOR MARKETS LIBERALIZATION LIFE INSURANCE LIQUID ASSETS LIQUIDATION LIQUIDITY LONG TERM LIABILITIES LONG TERM SAVINGS M2 MACROECONOMIC POLICIES MACROECONOMIC POLICY MANDATES MARKET INSTRUMENTS MARKETABLE SECURITIES MATURITIES MERGERS OPEN ECONOMIES OPERATING COSTS PAYMENT SYSTEMS PENSION FUNDS PENSIONS PER CAPITA INCOME POLICY MAKERS PRIVATE CONSUMPTION PROGRAMS PROVIDENT FUNDS REAL SECTOR RETIREMENT RISK DIVERSIFICATION RISK MANAGEMENT RISK PREMIUM SAVING PLANS SAVINGS SECURITIES MARKETS SELF INSURANCE SOCIAL SECURITY SOLVENCY SUBSIDIARIES SUNK COSTS SUPERVISORY AGENCIES SUPERVISORY FRAMEWORK TERMS OF TRADE TRANSACTION COSTS UNEMPLOYMENT VALUATION VALUE ADDED WEALTH |
spellingShingle |
CONTRACTUAL SAVINGS FINANCIAL SECTOR FINANCIAL SYSTEMS GOVERNANCE WEALTH PER CAPITA INCOME BANKING SYSTEMS INSURANCE COMPANIES MACROECONOMIC POLICY CAPITAL ACCOUNT PENSION SYSTEMS CONTINGENCY FINANCING SAVINGS RISK MANAGEMENT GOVERNMENT COMMITMENTS GOVERNMENT REGULATION SUPERVISION COMPETITIVENESS INTERNATIONAL INVESTMENTS ADVERSE EFFECTS AGENTS ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSETS BANK DEPOSITS BANKING CRISES BANKING SYSTEM BANKING SYSTEMS BANKS BONDS CAPITAL FLOWS CAPITAL MARKETS CENTRAL BANK CIVIL SERVICE COMMISSIONS CONSOLIDATION CONTINGENT LIABILITIES CONTRACTUAL SAVING CONTRACTUAL SAVINGS CONTRACTUAL SAVINGS INSTITUTIONS COST OF CAPITAL COVERAGE DEBT DISCOUNT RATE ECONOMIC GROWTH ECONOMIES OF SCALE EQUITY INVESTMENTS EXCHANGE RATE EXPORTS EXTERNALITIES FIDUCIARY FIDUCIARY RESPONSIBILITY FINANCIAL CRISES FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL POLICIES FINANCIAL RISK FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FISCAL POLICIES FOREIGN BANKS FREE TRADE GDP GDP PER CAPITA GOVERNMENT BONDS GOVERNMENT SECURITIES HOUSING HUMAN CAPITAL IMPORTS INDIVIDUAL ACCOUNTS INFLATION INSPECTIONS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INTEGRITY INTEREST RATE INTEREST RATES INTERNATIONAL FINANCIAL INSTRUMENTS LABOR FORCE LABOR MARKETS LIBERALIZATION LIFE INSURANCE LIQUID ASSETS LIQUIDATION LIQUIDITY LONG TERM LIABILITIES LONG TERM SAVINGS M2 MACROECONOMIC POLICIES MACROECONOMIC POLICY MANDATES MARKET INSTRUMENTS MARKETABLE SECURITIES MATURITIES MERGERS OPEN ECONOMIES OPERATING COSTS PAYMENT SYSTEMS PENSION FUNDS PENSIONS PER CAPITA INCOME POLICY MAKERS PRIVATE CONSUMPTION PROGRAMS PROVIDENT FUNDS REAL SECTOR RETIREMENT RISK DIVERSIFICATION RISK MANAGEMENT RISK PREMIUM SAVING PLANS SAVINGS SECURITIES MARKETS SELF INSURANCE SOCIAL SECURITY SOLVENCY SUBSIDIARIES SUNK COSTS SUPERVISORY AGENCIES SUPERVISORY FRAMEWORK TERMS OF TRADE TRANSACTION COSTS UNEMPLOYMENT VALUATION VALUE ADDED WEALTH Impavido, Gregorio Musalem, Alberto R. Vittas, Dimitri Contractual Savings in Countries with a Small Financial Sector |
relation |
Policy Research Working Paper;No.2841 |
description |
Countries with small financial systems
are generally small economies with a reduced dimension of
institutional relationships, a greater concentration of
wealth, and a relatively less independent civil service.
These characteristics facilitate concentration of functions
and, more generally, weak governance. Only small economies
with a relatively high level of per capita income, minimum
core of sound banks and insurance companies, sound and
credible macroeconomic policies, and open capital accounts
can benefit from the development of contractual savings.
This can increase the options to obtain sound coverage
against contingencies, increase the supply of long term
savings, promote financial deepening, and improve financial
risk management. |
format |
Publications & Research :: Policy Research Working Paper |
author |
Impavido, Gregorio Musalem, Alberto R. Vittas, Dimitri |
author_facet |
Impavido, Gregorio Musalem, Alberto R. Vittas, Dimitri |
author_sort |
Impavido, Gregorio |
title |
Contractual Savings in Countries with a Small Financial Sector |
title_short |
Contractual Savings in Countries with a Small Financial Sector |
title_full |
Contractual Savings in Countries with a Small Financial Sector |
title_fullStr |
Contractual Savings in Countries with a Small Financial Sector |
title_full_unstemmed |
Contractual Savings in Countries with a Small Financial Sector |
title_sort |
contractual savings in countries with a small financial sector |
publisher |
World Bank, Washington, D.C. |
publishDate |
2013 |
url |
http://documents.worldbank.org/curated/en/2002/05/1781148/contractual-savings-countries-small-financial-sector http://hdl.handle.net/10986/14289 |
_version_ |
1764429928861794304 |