Financial Development and Inclusive Growth : Attaining Shared and Sustainable Prosperity in Egypt
Better functioning financial systems foster economic growth, poverty alleviation; moreover, a more equitable distribution of economic opportunities enhances overall economic development. It is critical that financial development leads to inclusive...
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| Format: | Other Financial Sector Study |
| Language: | English en_US |
| Published: |
Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2014/01/20332564/financial-development-inclusive-growth-attaining-shared-sustainable-prosperity-egypt-vol-2-2-main-report http://hdl.handle.net/10986/20814 |
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okr-10986-20814 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO BANK ACCESS TO BANKS ACCESS TO CAPITAL ACCOUNTING ACCOUNTING STANDARDS AGRICULTURAL CREDIT ASSET HOLDINGS ASSET MANAGERS ASSET VALUE ASSETS RATIO BANK DEPOSITS BANK LOANS BANKING SECTOR BANKING SYSTEM BOND HOLDERS BOND ISSUANCES BROKERAGE BROKERAGES BROKERS BUDGET DEFICIT CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKET REGULATION CAPITAL MARKETS CAPITAL OUTFLOW CAPITAL OUTFLOWS CD CENTRAL BANK CENTRAL SECURITIES DEPOSITORY CERTIFICATE OF DEPOSIT CLEARING HOUSE COLLATERAL COLLECTIVE INVESTMENT COMPETITIVE MARKET CONTRACTUAL SAVINGS CORPORATE BOND CORPORATE BOND MARKET CORPORATE BOND MARKET DEVELOPMENT CORPORATE BONDS CORPORATE GOVERNANCE CREDIT RATING CREDITOR CREDITOR RIGHTS DEBT OUTSTANDING DEFAULTS DEVELOPMENT BANK DOMESTIC CREDIT DOMESTIC DEBT ECONOMIC DEVELOPMENT EQUITIES EQUITY MARKET EQUITY MARKETS EXCESS LIQUIDITY EXCHANGE COMMISSION EXCHANGE RATE FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR DEVELOPMENT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL WEAKNESSES FIXED INCOME FIXED INCOME MARKET FIXED INCOME MARKETS FIXED INCOME SECURITIES FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN INVESTOR FRAUD FUND MANAGEMENT FUND MANAGERS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BOND MARKETS GOVERNMENT BONDS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT DEBT MARKETS GOVERNMENT DEFICIT GOVERNMENT INTERVENTION GOVERNMENT POLICY GOVERNMENT SUBSIDIES GROSS DOMESTIC PRODUCT GUARANTEE FUND HOLDING HOLDINGS HOME OWNERSHIP HOUSEHOLD SAVINGS HOUSING FINANCE INCOME INEQUALITY INFLATION INITIAL PUBLIC OFFERING INITIAL PUBLIC OFFERINGS INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INTEREST RATES INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCIAL INSTITUTIONS INVESTMENT CLIMATE INVESTMENT FUNDS INVESTMENT PROJECTS INVESTOR PROTECTION IPO ISLAMIC BANKS ISLAMIC FINANCE ISSUANCE LEGAL FRAMEWORK LEGAL REFORMS LEGAL RIGHTS LEGAL RIGHTS OF CREDITORS LENDERS LIABILITY LIFE INSURANCE LINE OF CREDIT LIQUID ASSETS LIQUIDITY LIQUIDITY CRISIS LOAN LOAN PORTFOLIO LOAN QUALITY LOANABLE FUNDS LOCAL CURRENCY MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARKET CAPITALIZATION MARKET DEVELOPMENT MARKET ECONOMIES MARKET LIQUIDITY MARKET SHARE MARKET SPECIALIST MARKET TRANSACTION MARKET TURNOVER MATURITY MATURITY MISMATCH MATURITY STRUCTURE MICRO ENTERPRISES MICRO FINANCE MICRO FINANCE INSTITUTIONS MICROFINANCE MINORITY SHAREHOLDERS MONETARY POLICY MONEY MARKET MONEY MARKETS MORTGAGE MORTGAGE FINANCE MORTGAGE LOAN MORTGAGE LOANS MORTGAGE MARKET MORTGAGE MARKETS MORTGAGES MUTUAL FUND MUTUAL FUND ASSETS MUTUAL FUNDS NATIONAL INVESTMENT NATIONAL INVESTMENTS NON-PERFORMING LOANS NPL OWNERSHIP STRUCTURE PENSION PENSION FUNDS PENSION SYSTEMS PENSIONS POLITICAL STABILITY POLITICAL UNCERTAINTY PORTFOLIO QUALITY PORTFOLIOS POST OFFICE PRICE LIMITS PRIMARY DEALER PRIMARY MARKET PRIVATE BANKS PRIVATE CREDIT PRIVATE CREDIT BUREAU PRIVATE EQUITY PRIVATE SECTOR CREDIT REAL ESTATE INVESTMENT REFERENDUM REGISTRATION PROCESS REGULATORY FRAMEWORK REPO RESERVES RESIDENTIAL MORTGAGE RETURN RISK AVERSION SAVINGS RATE SECONDARY MARKET SECONDARY MARKET TRADING SECURITIES SECURITIES MARKET SETTLEMENT SHORT-TERM DEBT SOCIAL INSURANCE FUND SOVEREIGN RATING STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION SUPERVISORY AUTHORITY T-BILLS T-BOND T-BONDS TAX TRADING TRANSACTION TRANSITION ECONOMIES TREASURY TREASURY BILLS USE OF BANK CREDIT YIELD CURVE |
| spellingShingle |
ACCESS TO BANK ACCESS TO BANKS ACCESS TO CAPITAL ACCOUNTING ACCOUNTING STANDARDS AGRICULTURAL CREDIT ASSET HOLDINGS ASSET MANAGERS ASSET VALUE ASSETS RATIO BANK DEPOSITS BANK LOANS BANKING SECTOR BANKING SYSTEM BOND HOLDERS BOND ISSUANCES BROKERAGE BROKERAGES BROKERS BUDGET DEFICIT CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKET REGULATION CAPITAL MARKETS CAPITAL OUTFLOW CAPITAL OUTFLOWS CD CENTRAL BANK CENTRAL SECURITIES DEPOSITORY CERTIFICATE OF DEPOSIT CLEARING HOUSE COLLATERAL COLLECTIVE INVESTMENT COMPETITIVE MARKET CONTRACTUAL SAVINGS CORPORATE BOND CORPORATE BOND MARKET CORPORATE BOND MARKET DEVELOPMENT CORPORATE BONDS CORPORATE GOVERNANCE CREDIT RATING CREDITOR CREDITOR RIGHTS DEBT OUTSTANDING DEFAULTS DEVELOPMENT BANK DOMESTIC CREDIT DOMESTIC DEBT ECONOMIC DEVELOPMENT EQUITIES EQUITY MARKET EQUITY MARKETS EXCESS LIQUIDITY EXCHANGE COMMISSION EXCHANGE RATE FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR DEVELOPMENT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL WEAKNESSES FIXED INCOME FIXED INCOME MARKET FIXED INCOME MARKETS FIXED INCOME SECURITIES FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN INVESTOR FRAUD FUND MANAGEMENT FUND MANAGERS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BOND MARKETS GOVERNMENT BONDS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT DEBT MARKETS GOVERNMENT DEFICIT GOVERNMENT INTERVENTION GOVERNMENT POLICY GOVERNMENT SUBSIDIES GROSS DOMESTIC PRODUCT GUARANTEE FUND HOLDING HOLDINGS HOME OWNERSHIP HOUSEHOLD SAVINGS HOUSING FINANCE INCOME INEQUALITY INFLATION INITIAL PUBLIC OFFERING INITIAL PUBLIC OFFERINGS INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INTEREST RATES INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCIAL INSTITUTIONS INVESTMENT CLIMATE INVESTMENT FUNDS INVESTMENT PROJECTS INVESTOR PROTECTION IPO ISLAMIC BANKS ISLAMIC FINANCE ISSUANCE LEGAL FRAMEWORK LEGAL REFORMS LEGAL RIGHTS LEGAL RIGHTS OF CREDITORS LENDERS LIABILITY LIFE INSURANCE LINE OF CREDIT LIQUID ASSETS LIQUIDITY LIQUIDITY CRISIS LOAN LOAN PORTFOLIO LOAN QUALITY LOANABLE FUNDS LOCAL CURRENCY MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARKET CAPITALIZATION MARKET DEVELOPMENT MARKET ECONOMIES MARKET LIQUIDITY MARKET SHARE MARKET SPECIALIST MARKET TRANSACTION MARKET TURNOVER MATURITY MATURITY MISMATCH MATURITY STRUCTURE MICRO ENTERPRISES MICRO FINANCE MICRO FINANCE INSTITUTIONS MICROFINANCE MINORITY SHAREHOLDERS MONETARY POLICY MONEY MARKET MONEY MARKETS MORTGAGE MORTGAGE FINANCE MORTGAGE LOAN MORTGAGE LOANS MORTGAGE MARKET MORTGAGE MARKETS MORTGAGES MUTUAL FUND MUTUAL FUND ASSETS MUTUAL FUNDS NATIONAL INVESTMENT NATIONAL INVESTMENTS NON-PERFORMING LOANS NPL OWNERSHIP STRUCTURE PENSION PENSION FUNDS PENSION SYSTEMS PENSIONS POLITICAL STABILITY POLITICAL UNCERTAINTY PORTFOLIO QUALITY PORTFOLIOS POST OFFICE PRICE LIMITS PRIMARY DEALER PRIMARY MARKET PRIVATE BANKS PRIVATE CREDIT PRIVATE CREDIT BUREAU PRIVATE EQUITY PRIVATE SECTOR CREDIT REAL ESTATE INVESTMENT REFERENDUM REGISTRATION PROCESS REGULATORY FRAMEWORK REPO RESERVES RESIDENTIAL MORTGAGE RETURN RISK AVERSION SAVINGS RATE SECONDARY MARKET SECONDARY MARKET TRADING SECURITIES SECURITIES MARKET SETTLEMENT SHORT-TERM DEBT SOCIAL INSURANCE FUND SOVEREIGN RATING STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION SUPERVISORY AUTHORITY T-BILLS T-BOND T-BONDS TAX TRADING TRANSACTION TRANSITION ECONOMIES TREASURY TREASURY BILLS USE OF BANK CREDIT YIELD CURVE World Bank Financial Development and Inclusive Growth : Attaining Shared and Sustainable Prosperity in Egypt |
| geographic_facet |
Middle East and North Africa Egypt, Arab Republic of |
| description |
Better functioning financial systems
foster economic growth, poverty alleviation; moreover, a
more equitable distribution of economic opportunities
enhances overall economic development. It is critical that
financial development leads to inclusive growth. This brings
us to certain key questions: Who benefits from a better
financial system? Does financial development induce an
increase in per capita Gross Domestic Product (GDP) only
because the very rich are getting even richer? Does finance
expand economic opportunities for the bulk of society?
Economic theory suggests that finance shapes the
distribution of economic opportunities. The financial system
affects the degree to which a person s economic
opportunities are defined. It influences who can launch a
new business venture and who cannot, who can acquire
education and who cannot, who can live in a neighborhood
that fosters the cognitive and non-cognitive development of
their children and who cannot, who can pursue one s economic
dreams and who cannot. A more competitive, better
functioning financial system exerts a disproportionately
positive impact on relatively low-income families. According
to the extent that the financial system performs these
functions well, economies tend to grow correspondingly
faster. For example, when banks screen borrowers effectively
and identify firms with the most promising prospects, this
is a first step in boosting productivity growth. When
financial markets and institutions mobilize savings from
disparate households to invest in these promising projects,
this represents a second crucial step in fostering economic
growth. When financial institutions monitor the use of
investments after financing firms and scrutinize their
managerial performance, this is an additional, essential
ingredient in boosting the operational efficiency of
corporations, reducing waste and fraud, and spurring
economic inclusivity. There is a robust positive
relationship between financial development and both poverty
alleviation and reduction in income inequality. It is not
just that finance accelerates economic growth, which
trickles down to the poor; rather, finance exerts a
disproportionately positive influence on lower income
households. Building on the finance and poverty connection,
there is a direct link between finance and human welfare.
When policy reforms foster the development of the financial
system, financial services improve, accelerating economic
growth, which ultimately leads to ending extreme poverty and
boosting shared prosperity. |
| format |
Economic & Sector Work :: Other Financial Sector Study |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Financial Development and Inclusive Growth : Attaining Shared and Sustainable Prosperity in Egypt |
| title_short |
Financial Development and Inclusive Growth : Attaining Shared and Sustainable Prosperity in Egypt |
| title_full |
Financial Development and Inclusive Growth : Attaining Shared and Sustainable Prosperity in Egypt |
| title_fullStr |
Financial Development and Inclusive Growth : Attaining Shared and Sustainable Prosperity in Egypt |
| title_full_unstemmed |
Financial Development and Inclusive Growth : Attaining Shared and Sustainable Prosperity in Egypt |
| title_sort |
financial development and inclusive growth : attaining shared and sustainable prosperity in egypt |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/01/20332564/financial-development-inclusive-growth-attaining-shared-sustainable-prosperity-egypt-vol-2-2-main-report http://hdl.handle.net/10986/20814 |
| _version_ |
1764447137212399616 |
| spelling |
okr-10986-208142021-04-23T14:03:59Z Financial Development and Inclusive Growth : Attaining Shared and Sustainable Prosperity in Egypt World Bank ACCESS TO BANK ACCESS TO BANKS ACCESS TO CAPITAL ACCOUNTING ACCOUNTING STANDARDS AGRICULTURAL CREDIT ASSET HOLDINGS ASSET MANAGERS ASSET VALUE ASSETS RATIO BANK DEPOSITS BANK LOANS BANKING SECTOR BANKING SYSTEM BOND HOLDERS BOND ISSUANCES BROKERAGE BROKERAGES BROKERS BUDGET DEFICIT CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKET REGULATION CAPITAL MARKETS CAPITAL OUTFLOW CAPITAL OUTFLOWS CD CENTRAL BANK CENTRAL SECURITIES DEPOSITORY CERTIFICATE OF DEPOSIT CLEARING HOUSE COLLATERAL COLLECTIVE INVESTMENT COMPETITIVE MARKET CONTRACTUAL SAVINGS CORPORATE BOND CORPORATE BOND MARKET CORPORATE BOND MARKET DEVELOPMENT CORPORATE BONDS CORPORATE GOVERNANCE CREDIT RATING CREDITOR CREDITOR RIGHTS DEBT OUTSTANDING DEFAULTS DEVELOPMENT BANK DOMESTIC CREDIT DOMESTIC DEBT ECONOMIC DEVELOPMENT EQUITIES EQUITY MARKET EQUITY MARKETS EXCESS LIQUIDITY EXCHANGE COMMISSION EXCHANGE RATE FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR DEVELOPMENT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL WEAKNESSES FIXED INCOME FIXED INCOME MARKET FIXED INCOME MARKETS FIXED INCOME SECURITIES FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN INVESTOR FRAUD FUND MANAGEMENT FUND MANAGERS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BOND MARKETS GOVERNMENT BONDS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT DEBT MARKETS GOVERNMENT DEFICIT GOVERNMENT INTERVENTION GOVERNMENT POLICY GOVERNMENT SUBSIDIES GROSS DOMESTIC PRODUCT GUARANTEE FUND HOLDING HOLDINGS HOME OWNERSHIP HOUSEHOLD SAVINGS HOUSING FINANCE INCOME INEQUALITY INFLATION INITIAL PUBLIC OFFERING INITIAL PUBLIC OFFERINGS INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INTEREST RATES INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCIAL INSTITUTIONS INVESTMENT CLIMATE INVESTMENT FUNDS INVESTMENT PROJECTS INVESTOR PROTECTION IPO ISLAMIC BANKS ISLAMIC FINANCE ISSUANCE LEGAL FRAMEWORK LEGAL REFORMS LEGAL RIGHTS LEGAL RIGHTS OF CREDITORS LENDERS LIABILITY LIFE INSURANCE LINE OF CREDIT LIQUID ASSETS LIQUIDITY LIQUIDITY CRISIS LOAN LOAN PORTFOLIO LOAN QUALITY LOANABLE FUNDS LOCAL CURRENCY MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARKET CAPITALIZATION MARKET DEVELOPMENT MARKET ECONOMIES MARKET LIQUIDITY MARKET SHARE MARKET SPECIALIST MARKET TRANSACTION MARKET TURNOVER MATURITY MATURITY MISMATCH MATURITY STRUCTURE MICRO ENTERPRISES MICRO FINANCE MICRO FINANCE INSTITUTIONS MICROFINANCE MINORITY SHAREHOLDERS MONETARY POLICY MONEY MARKET MONEY MARKETS MORTGAGE MORTGAGE FINANCE MORTGAGE LOAN MORTGAGE LOANS MORTGAGE MARKET MORTGAGE MARKETS MORTGAGES MUTUAL FUND MUTUAL FUND ASSETS MUTUAL FUNDS NATIONAL INVESTMENT NATIONAL INVESTMENTS NON-PERFORMING LOANS NPL OWNERSHIP STRUCTURE PENSION PENSION FUNDS PENSION SYSTEMS PENSIONS POLITICAL STABILITY POLITICAL UNCERTAINTY PORTFOLIO QUALITY PORTFOLIOS POST OFFICE PRICE LIMITS PRIMARY DEALER PRIMARY MARKET PRIVATE BANKS PRIVATE CREDIT PRIVATE CREDIT BUREAU PRIVATE EQUITY PRIVATE SECTOR CREDIT REAL ESTATE INVESTMENT REFERENDUM REGISTRATION PROCESS REGULATORY FRAMEWORK REPO RESERVES RESIDENTIAL MORTGAGE RETURN RISK AVERSION SAVINGS RATE SECONDARY MARKET SECONDARY MARKET TRADING SECURITIES SECURITIES MARKET SETTLEMENT SHORT-TERM DEBT SOCIAL INSURANCE FUND SOVEREIGN RATING STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION SUPERVISORY AUTHORITY T-BILLS T-BOND T-BONDS TAX TRADING TRANSACTION TRANSITION ECONOMIES TREASURY TREASURY BILLS USE OF BANK CREDIT YIELD CURVE Better functioning financial systems foster economic growth, poverty alleviation; moreover, a more equitable distribution of economic opportunities enhances overall economic development. It is critical that financial development leads to inclusive growth. This brings us to certain key questions: Who benefits from a better financial system? Does financial development induce an increase in per capita Gross Domestic Product (GDP) only because the very rich are getting even richer? Does finance expand economic opportunities for the bulk of society? Economic theory suggests that finance shapes the distribution of economic opportunities. The financial system affects the degree to which a person s economic opportunities are defined. It influences who can launch a new business venture and who cannot, who can acquire education and who cannot, who can live in a neighborhood that fosters the cognitive and non-cognitive development of their children and who cannot, who can pursue one s economic dreams and who cannot. A more competitive, better functioning financial system exerts a disproportionately positive impact on relatively low-income families. According to the extent that the financial system performs these functions well, economies tend to grow correspondingly faster. For example, when banks screen borrowers effectively and identify firms with the most promising prospects, this is a first step in boosting productivity growth. When financial markets and institutions mobilize savings from disparate households to invest in these promising projects, this represents a second crucial step in fostering economic growth. When financial institutions monitor the use of investments after financing firms and scrutinize their managerial performance, this is an additional, essential ingredient in boosting the operational efficiency of corporations, reducing waste and fraud, and spurring economic inclusivity. There is a robust positive relationship between financial development and both poverty alleviation and reduction in income inequality. It is not just that finance accelerates economic growth, which trickles down to the poor; rather, finance exerts a disproportionately positive influence on lower income households. Building on the finance and poverty connection, there is a direct link between finance and human welfare. When policy reforms foster the development of the financial system, financial services improve, accelerating economic growth, which ultimately leads to ending extreme poverty and boosting shared prosperity. 2014-12-18T23:04:29Z 2014-12-18T23:04:29Z 2014 http://documents.worldbank.org/curated/en/2014/01/20332564/financial-development-inclusive-growth-attaining-shared-sustainable-prosperity-egypt-vol-2-2-main-report http://hdl.handle.net/10986/20814 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Other Financial Sector Study Middle East and North Africa Egypt, Arab Republic of |