Financial Sector Policy in Practice : Benchmarking Financial Sector Strategies around the World

Policy makers use financial sector strategies to formulate a holistic policy for their national financial sectors. This paper examines and rates financial sector strategies around the world based on how well they formulate development targets, arra...

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Bibliographic Details
Main Authors:	Maimbo, Samuel Munzele, Melecky, Martin
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCOUNTABILITY ACCOUNTING AMOUNT OF CREDIT ASSETS BANK ENTRY BANK FOR INTERNATIONAL SETTLEMENTS BANK LOAN BANK OF THAILAND BANKING CRISES BANKING CRISIS BANKING REGULATION BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BENCHMARK BENCHMARKING BENCHMARKS CAPITAL ACCOUNT CAPITAL CONTROLS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK CENTRAL BANKS CIVIL LAW CIVIL SOCIETY CIVIL SOCIETY ORGANIZATIONS COMMERCIAL BANKS COMMON LAW COMPETITIVE ADVANTAGES COMPETITIVENESS COMPREHENSIVE STRATEGIES COMPREHENSIVE STRATEGY CONSOLIDATED SUPERVISION CONSUMER LOANS CONSUMER PROTECTION CONSUMERS CREDIT GROWTH CREDIT INSTITUTIONS CREDIT MARKETS CREDIT RISK CREDIT RISKS DATA AVAILABILITY DEBT DEBT-SERVICING COSTS DEVELOPING COUNTRIES DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DEVELOPMENT ECONOMICS DEVELOPMENT PATH DEVELOPMENT STRATEGIES DEVELOPMENT STRATEGY DOMESTIC BANKING DOMESTIC BANKS DOMESTIC ECONOMY DOMESTIC MARKET ECONOMIC DEVELOPMENT ELECTRONIC PAYMENTS EMPLOYMENT ENTRY BARRIERS EXCHANGE COMMISSION EXCHANGE TRANSACTIONS EXPOSURES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEEPENING FINANCIAL DEVELOPMENT FINANCIAL FLOWS FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL LIBERALIZATION FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL POLICIES FINANCIAL REGULATION FINANCIAL RISK FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR POLICIES FINANCIAL SECTOR POLICY FINANCIAL SECTOR STABILITY FINANCIAL SECTOR STRATEGIES FINANCIAL SECTOR STRATEGY FINANCIAL SECTORS FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STRUCTURE FINANCIAL STRUCTURES FINANCIAL SYSTEM FINANCIAL SYSTEMS FOREIGN BANK FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURE FOREIGN EXCHANGE FOREIGN EXCHANGE RISK FOREIGN EXCHANGE RISKS FOREIGN EXCHANGE TRANSACTIONS FOREIGN OWNERSHIP FUTURE RESEARCH GDP GOVERNMENT INVESTMENT GOVERNMENT OFFICIALS GOVERNMENT OWNERSHIP GOVERNMENT SUBSIDIES GROSS DOMESTIC PRODUCT HOUSING HUMAN RESOURCE INCOME INCOME GROUP INCOME GROUPS INCOME LEVEL INDEBTEDNESS INFLATION INFORMATION FLOW INFORMATION TECHNOLOGY INITIATIVE INSURANCE INSURANCE COMPANIES INTEGRITY INTEREST RATE INTEREST RATE RISKS INTERNATIONAL BANK INTERNATIONAL FINANCIAL INSTITUTIONS INVESTIGATION ISLAMIC FINANCE LABOR MARKET LAWS LEGAL ENVIRONMENT LEGAL FRAMEWORK LEGAL SYSTEM LEGAL SYSTEMS LEGISLATIVE FRAMEWORK LENDER LENDER-OF-LAST-RESORT LESS DEVELOPED COUNTRIES LEVEL OF INFLATION LIBERALIZATION LOAN PORTFOLIOS LOBBYING LONG-TERM CAPITAL LONG-TERM FINANCE MACROECONOMIC ENVIRONMENT MACROECONOMIC ENVIRONMENTS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC STABILITY MANDATES MARKET FAILURES MARKET INSTRUMENTS MARKET REGULATION MIDDLE-INCOME COUNTRY MINISTER MINISTRIES OF FINANCE MONETARY FUND MONETARY POLICY MONETARY SUPPLY NATIONAL BANK NATIONAL DEVELOPMENT NATIONAL INCOME NDP NONPERFORMING LOANS NPL OUTSTANDING LOANS OVERDUE LOANS PARTICULAR COUNTRY PAYMENT SERVICES PER CAPITA INCOME POLITICAL ECONOMY PORTFOLIOS POSITIVE COEFFICIENT POSITIVE COEFFICIENTS POVERTY ALLEVIATION PRICE STABILITY PRODUCT MARKETS PRODUCTIVITY PRUDENTIAL REGULATION PUBLIC POLICY REAL ECONOMIC ACTIVITY REAL SECTOR REFORM PROGRAM REGRESSION ANALYSIS REGULATORS REGULATORY FRAMEWORK REGULATORY POLICY RESERVE RESERVE BANK RESERVE BANK OF INDIA RETURN RISK EXPOSURE RISK MANAGEMENT RISK TAKING SAVINGS SECURITIES SHARE OF BANK ASSETS SOCIAL COSTS SOCIAL SERVICES STATE BANK STATE BANK OF PAKISTAN SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITY SYSTEMIC RISK SYSTEMIC RISKS TAX TAX TREATMENT TECHNICAL ASSISTANCE TRUST FUND
Online Access:	http://documents.worldbank.org/curated/en/2014/01/18808104/financial-sector-policy-practice-benchmarking-financial-sector-strategies-around-world http://hdl.handle.net/10986/16832

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Summary:	Policy makers use financial sector strategies to formulate a holistic policy for their national financial sectors. This paper examines and rates financial sector strategies around the world based on how well they formulate development targets, arrangements for systemic risk management, and implementation plans. The strategies are also rated on whether they consider policy trade-offs between financial development and systemic risk management. The rated strategies are then benchmarked against a wide range of country characteristics. The analysis finds that the scope and quality of national strategies for the financial sector are influenced by the country's type of legal system, its level of income and macroeconomic stability, the existing financial depth and inclusion, the share of foreign ownership in the national financial sector, and the experience of past financial crises. Giving due consideration to policy trade-offs, particularly between financial development and systemic risk management, remains the weakest part of these strategies. Countries with civil- and religious-based law and those with a higher share of foreign ownership in their financial system address the policy trade-offs more often.

Financial Sector Policy in Practice : Benchmarking Financial Sector Strategies around the World

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