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Finance and Private Sector Development: 2009 Publications

Journal Articles
Special Journal Issue
Chapters in Books
Conferences & Seminars
Data
Outreach 
Working Papers

Journal Articles

Ashraf, Nava, Dean Karlan, and Xavier Giné. 2009. “Finding Missing Markets (and a Disturbing Epilogue): Evidence from an Export Crop Adoption and Marketing Intervention in Kenya.” American Journal of Agricultural Economics 91(4): 973–90.

Beck, Thorsten, Asli Demirgüç-Kunt, and Patrick Honohan. 2009. “Access to Financial Services: Measurement, Impact and Policies.” World Bank Research Observer 24(1): 119–45.

Berger, Allen, Leora Klapper, and Rima Turk-Ariss. 2009. “Bank Competition and Financial Stability.” Journal of Financial Services Research 35(2): 99–118.

Bruhn, Miriam, and David McKenzie. 2009. “In Pursuit of Balance: Randomization in Practice in Development Field Experiments.” American Economic Journal: Applied Economics 1(4): 200–32.

Claessens, Stijn, Asli Demirgüç-Kunt, and Fariborz Moshirian. 2009. “Global Financial Crisis, Risk Analysis and Risk Measurement.” Journal of Banking and Finance 33(11): 1949–52.

Clarke, George R., Robert Cull, and Michael J. Fuchs. 2009. “Bank Privatization in Sub-Saharan Africa: The Case of Uganda Commercial Bank.” World Development 37(9): 1506–21.

Cull, Robert, Asli Demirgüç-Kunt, and Jonathan Morduch. 2009. “Microfinance Meets the Market.” Journal of Economic Perspectives 23(1): 167–92.

Cull, Robert, L. Colin Xu, and Tian Zhu. 2009. “Formal Finance and Trade Credit during China’s Transition.” Journal of Financial Intermediation 18(2): 173–92.

Das, Jishnu, Quy-Toan Do, Jed Friedman, and David McKenzie. 2009. “Mental Health Patterns and Consequences: Results from Survey Data in Five Developing Countries.” World Bank Economic Review 23(1): 31–55.

de Mel, Suresh, David McKenzie, and Christopher Woodruff. 2009. “Are Women More Credit Constrained: Experimental Evidence on Gender and Microenterprise Returns.” American Economic Journal: Applied Economics 1(3): 1–32.

de Mel, Suresh, David McKenzie, and Christopher Woodruff. 2009. “Measuring Microenterprise Profits: Must We Ask How the Sausage Is Made?“ Journal of Development Economics 88(1): 19–31.

Demirgüç-Kunt, Asli, and Ross Levine. 2009. “Finance and Inequality: Theory and Evidence.” Annual Review of Financial Economics 1: 287–318.

Dong, Xiao-Yuan, and L. Colin Xu. 2009. “Labor Restructuring in China’s Industrial Sector: Toward a Functioning Urban Labor Market.” Journal of Comparative Economics 37(2): 287–305.

Fan, Joseph, Randall Morck, L. Colin Xu, and Bernard Yeung. 2009. “Institutions and Foreign Direct Investment: China vs. the Rest of the World.” World Development 37(4): 852–65.

Garcia-Martinez, Pilar, John Gibson, David McKenzie, and Halahingano Rohorua. 2009. “How Do Pacific Island Households and Communities Cope with Seasonally Absent Members?” Pacific Economic Bulletin 24(3): 19–38.

Gibson, John, David McKenzie, and Steven Stillman. 2009. “Migration and Mental Health: Evidence from a Natural Experiment.” Journal of Health Economics 28(3): 677–87.

Giné, Xavier, and Dean Yang. 2009. “Insurance, Credit, and Technology Adoption: Field Experimental Evidence from Malawi.” Journal of Development Economics 89(1): 1–11.

McKenzie, David. 2009. “Impact Assessments in Finance and Private Sector Development: What Have We Learned and What Should We Learn?” World Bank Research Observer 24(2): 1–25.

McKenzie, David, and Johan A. Mistiaen. 2009. “Surveying Migrant Households: A Comparison of Census-Based, Snowball, and Intercept Point Surveys.” Journal of the Royal Statistical Society 172(2): 339–60.

McKenzie, David, and Isha Ray. 2009. “Urban Water Supply in India: Status, Reform Options, and Possible Lessons.” Water Policy 11(4): 442–60.


 

Special Journal Issue

Claessens, Stijn, Asli Demirgüç-Kunt, and Fariborz Moshirian. 2009. Special Issue on “Financial Globalisation, Risk Analysis and Risk Management.” Journal of Banking and Finance 33 (11, November).


 

Chapters in Books

Beck, Thorsten. 2009. “The Econometrics of Finance and Growth.” In Handbook of Econometrics, Volume 2, ed. Terence Mills and Kerry Patterson. New York: Palgrave Macmillan.

Beck, Thorsten, Michael J. Fuchs, and Marilou Uy. 2009. “Finance in Africa: Achievements and Challenges.“ In The Africa Competitiveness Report, ed. World Bank, African Development Bank and World Economic Forum. Geneva: World Economic Forum.

Berg, Alexander S., and Inessa Love. 2009. “The Governance Premium: New Evidence from Recent Academic Research. “ In The Handbook of International Corporate Governance: A Definitive Guide, ed. The Institute of Directors. London: Institute of Directors IOD.

de la Torre, Augusto, Maria Soledad Martinez Peria, and Sergio Schmukler. 2009. “Banks and Small and Medium Enterprises: Recent Business Developments.” In QFinance: The Ultimate Resource, ed. Conrad Gardner. Bloomsbury Information, Ltd..

de la Torre, Augusto, Maria Soledad Martinez Peria, Maria Mercedes Politi, Sergio Schmukler, and Victoria Vanasco. 2009. “How Do Banks Serve SMEs? Business and Risk Management Models.” In Investing Private Capital in Emerging and Frontier Market Small and Medium Enterprises (SMEs): 2nd Geneva Private Capital Symposium, ed. Benoît Leleux and Anouk Lavoie Orlick. Washington, DC: International Finance Corporation.

Demirgüç-Kunt, Asli, and Ross Levine. 2009. “Finance and Economic Opportunity.” In Proceedings of the World Bank Annual Conference on Development Economics on Private Sector Development, ed. Francois Bourguignon and Boris Pleskovic. Washington, DC: World Bank.


 

Conferences & Seminars

Survey Design and Measurement in Development Economics
December 10-11, 2009, World Bank Headquarters, Washington, DC
Co-organized with the Enterprise Initiative, University of Chicago, and Yale University. The conference brought together a group of scholars to discuss topics that included the reliability of recall and self-reported data, as well as methods for improvement, such as the use of diaries and Personalized Digital Assistants (PDAs).
Contact: David McKenzie
Email: research@worldbank.org
Agenda and Papers

Entrepreneurship and Growth
November 19-20, 2009, World Bank Headquarters, Washington, DC.
Jointly sponsored with the World Bank Group’s Investment Climate Advisory Services and the Ewing Marion Kauffman Foundation on Entrepreneurship. The two-day conference brought together academics, policymakers, and practitioners to examine constraints to entrepreneurship, the promotion of high-growth entrepreneurship, and the impact of institutional reforms on the nature of the new incumbent firms.
Contact: Leora Klapper and Inessa Love
Email: research@worldbank.org
Agenda and Papers

International Financial Crisis: Have the Rules of Finance Changed?
September 24-25, 2009, Federal Reserve Bank of Chicago
Co-organized with the Federal Reserve Bank of Chicago. The conference brought together academics, policymakers and practitioners to examine the recent global financial upheaval, whether financial principles seem to have shifted in recent years, and what that may mean for international financial markets and regulation.
Contact: Asli Demirgüç-Kunt
Email: research@worldbank.org
Agenda and Papers

Managing Systemic Crises and Redesigning Financial Systems
May 26, 2009, Washington, DC
Jointly sponsored by the World Bank and the International Monetary Fund, the one-day conference explored issues of regulatory reform and corporate and financial restructuring in the wake of financial crises.
Contact: Asli Demirgüç-Kunt
Email: research@worldbank.org
Agenda and Papers

Measurement, Promotion, and Impact of Access to Financial Services
March 12 13, 2009, Washington, DC
This conference on issues of measurement, promotion and impact of access to financial services assumed an added importance at a time when the current global financial crisis has constrained credit markets, further limiting opportunities for households, and small and medium enterprises seeking access to finance.
Contact: Robert Cull, Asli Demirgüç-Kunt, and Patrick Honohan
Email: research@worldbank.org
Agenda and Papers 

Finance and Private Sector Seminars
The World Bank Finance and Private Sector Seminar Series is an event where leading academic scholars in the finance field are invited to present their recent work. A total of 13 seminars were held in 2009.
Organizer: Bilal Zia
Email: bzia@worldbank.org
Seminars and Papers
 


 

Data

Financial Development and Structure 
This dataset, revised in December 2009 to included data through 2008, unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.
Dataset


 

Outreach

Beck, Thorsten, Asli Demirgüç-Kunt, and Maria Soledad Martinez Peria. 2009. “Bank Financing for SMEs around the World: Drivers, Obstacles, Business Models, and Lending Practices.” AccessFinance, Newsletter 26, January.

Bruhn, Miriam. 2009. “IMF-World Bank Conference on Managing Systemic Crises.” Conference Summary, Development Research Group, World Bank, Washington, DC, May.

Bruhn, Miriam. 2009. “Does Business Registration Reform Increase Entrepreneurial Activity?” Finance and PSD Impact Notes 2, February.

Bruhn, Miriam, and Inessa Love. 2009. “The Economic Impact of Expanding Access to Finance in Mexico.” Finance and PSD Impact Notes 9, Development Research Group, World Bank, Washington, DC, October.

Caprio, Gerard, Asli Demirgüç-Kunt, and Edward Kane. 2009. “Financial Market Failures: Searching for Lessons, Not Scapegoats.” World Bank Research Digest 3(2, Winter): 3.

Clemens, Michael, and David McKenzie. 2009. “Think Again: Brain Drain.” Foreign Policy, October.

Cull, Robert, Asli Demirgüç-Kunt, and Jonathan Morduch. 2009. “Does Regulatory Supervision Curtail Microfinance Profitability and Outreach?“ AccessFinance, Newsletter 28, June.

Cull, Robert, Asli Demirgüç-Kunt, and Patrick Honohan. 2009. “Measurement, Promotion, and Impact of Access to Financial Services.” Conference Summary, Development Research Group, World Bank, Washington, DC, March.

de Mel, Suresh, David McKenzie, and Christopher Woodruff. 2009. “More Capital Not Enough to Grow Female-Owned Businesses.” World Bank Research Digest 3(3, Spring): 3.

Demirgüç-Kunt, Asli. 2009. “Are All Sacred Cows Dead? Implications of the Financial Crisis for Macro and Financial Policies.” Research Brief, Development Research Group, World Bank, Washington, DC, January.

Demirgüç-Kunt, Asli, and Ouarda Merrouche. 2009. “The International Financial Crisis: Have the Rules of Finance Changed?” Conference Summary, Development Research Group, World Bank, Washington,  DC, September.

Demirgüç-Kunt, Asli, and Luis Servén. 2009. “Are All Sacred Cows Dead?” World Bank Research Digest 3(2, Winter): 5.

Giné, Xavier, and Inessa Love. 2009. “Evaluating the Efficiency of a Bankruptcy Reform.” Finance and PSD Impact Note 6, Development Research Group, World Bank, Washington, DC, May.

Giné, Xavier. 2009. “The Promise of Index Insurance.” Finance and PSD Impact Note 3, Development Research Group, World Bank, Washington, DC, March.

Klapper, Leora. 2009. “The Use of Bankruptcy in the Resolution of Corporate Distress.” Research Brief, Development Research Group, World Bank, Washington, DC, May.

Klapper, Leora, and Bilal Zia. 2009. “Financial Stability and Access: The Importance of Financial Literacy.” Research Brief, Development Research Group, World Bank, Washington, DC, January.

Love, Inessa, and Rida Zaidi. 2009. “Does Trade Credit Substitute for a Bank Credit during a Financial Crisis? ” World Bank Research Digest 4(1, Fall): 5.

Martinez Peria, Maria Soledad. 2009. “Bank Financing to SMEs: What are Africa’s Specificities?” Private Sector & Development Magazine Issue 1, May. PROPARCO, Agence Française de Développement Group.

McKenzie, David. 2009. “Gender, Entry Regulations, and Small Firm Informality: What Do the Micro Data Tell Us?” PREM Notes 142, September.

McKenzie, David. 2009. “Which Microenterprises Have High Returns to Capital?” Finance and PSD Impact Note 1, Development Research Group, World Bank, Washington, DC, February.

McKenzie, David. 2009. “Why Is More Capital Not Enough to Grow Female Businesses?” Finance and PSD Impact Note 4, Development Research Group, World Bank, Washington, DC, April.

McKenzie, David, and Michaela Weber. 2009. “The Results of a Pilot Financial Literacy and Business Planning Training Program for Women in Uganda.” Finance and PSD Impact Note 8, Development Research Group, World Bank, Washington, DC, September.

McKenzie, David, and Yaye Seynabou Sakho. 2009. “Do Marginal Firms in Bolivia Benefit from Formalizing?” Finance and PSD Impact Note 7, Development Research Group, World Bank, Washington, DC, June.

McKenzie, David. 2009. “Impact Assessments in Finance and Private Sector Development.” World Bank Research Digest 3(4, Summer): 3.

Zia, Bilal. 2009. “Valuing Financial Literacy: Evidence from Indonesia.” Finance and PSD Impact Note 5, May.

Interest Bearing Notes Newsletter
A bi-monthly report on research by the Finance and Private Sector Research Team in the World Bank’s Development Research Group, it reports on research done by the team as well as non-World Bank research, conferences, related websites, new datasets, and other research and policy-oriented news.
Contact: Miriam Bruhn, Robert Cull, and Inessa Love, Email: research@worldbank.org
Subscribe | Archives


 

Working Papers

Beck, Thorsten, and Asli Demirgüç-Kunt. 2009. “Financial Institutions and Markets across Countries and over Time - Data and Analysis.” Policy Research Working Paper 4943, World Bank, Washington, DC.

Beck, Thorsten, Michael J. Fuchs, and Marilou Uy. 2009. “Finance in Africa - Achievements and Challenges.” Policy Research Working Paper 5020, World Bank, Washington, D.C.

Beck, Thorsten, and Maria Soledad Martinez Peria. 2009. “What Explains the Cost of Remittances: An Examination across 119 Country Corridors.” Policy Research Working Paper 5072, World Bank, Washington, D.C.

Bollard, Albert, David McKenzie, Melanie Morten, and Hillel Rapoport. 2009. “Remittances and the Brain Drain Revisited: The Microdata Show that More Educated Migrants Remit More.” Policy Research Working Paper 5113, World Bank, Washington, DC.

Bruhn, Miriam. 2009. “Female-owned Firms in Latin America: Characteristics, Performance, and Obstacles to Growth.” Policy Research Working Paper 5122, World Bank, Washington, DC.

Bruhn, Miriam, and Inessa Love. 2009. “The Economic Impact of Banking the Unbanked: Evidence from Mexico.” Policy Research Working Paper 4981, World Bank, Washington, DC.

Cole, Shawn, Thomas Sampson, and Bilal Zia. 2009. “Financial Literacy, Financial Decisions and the Demand for Financial Services: Evidence from India and Indonesia.” Harvard Business School Working Paper 09-117, Cambridge, MA.

Cull, Robert, Asli Demirgüç-Kunt, and Jonathan Morduch. 2009. “Microfinance Tradeoffs: Regulation, Competition, and Financing.” Policy Research Working Paper 5086, World Bank, Washington, DC.

Cull, Robert, Asli Demirgüç-Kunt, and Jonathan Morduch. 2009. “Banks and Microbanks.” Policy Research Working Paper 5078, World Bank, Washington, DC.

Cull, Robert, Asli Demirgüç-Kunt, and Jonathan Morduch. 2009. “Does Regulatory Supervision Curtail Microfinance Profitability and Outreach.” Policy Research Working Paper 4948, World Bank, Washington, DC.

Cull, Robert, and Kinnon Scott. 2009. “Measuring Household Usage of Financial Services.” Policy Research Working Paper 5048, World Bank, Washington, DC.

Delavande, Adeline, Xavier Giné, and David McKenzie. 2009. “Measuring Subjective Expectations in Developing Countries: A Critical Review and New Evidence.” Policy Research Working Paper 4824, World Bank, Washington, DC.

de Mel, Suresh, David McKenzie, and Christopher Woodruff. 2009. “Innovative Firms or Innovative Owners? Determinants of Innovation in Micro, Small, and Medium Enterprises. Policy Research Working Paper 4934, World Bank, Washington, DC.

Demirgüç-Kunt, Asli, and Enrica Detragiache. 2009. “Basel Core Principles and Bank Soundness: Does Compliance Matter?“ Policy Research Working Paper 5122, World Bank, Washington, DC.

Demirgüç-Kunt, Asli, and Harry Huizinga. 2009. “Bank Activity and Funding Strategies: The Impact on Risk and Returns.” Policy Research Working Paper 4837, World Bank, Washington, DC.

Demirgüç-Kunt, Asli, and Ross Levine. 2009. “Finance and Inequality: Theory and Evidence.” Policy Research Working Paper 4967, World Bank, Washington, DC.

Demirgüç-Kunt, Asli, and Luis Servén. 2009. “Are All the Sacred Cows Dead? Implications of the Financial Crisis for Macro and Financial Policies.” Policy Research Working Paper 4807, World Bank, Washington, DC.

Demirgüç-Kunt, Asli, Leora Klapper, and Georgios Panos. 2009. “Entrepreneurship in Post-Conflict Transition: The Role of Informality and Access to Finance.” Policy Research Working Paper 4935, World Bank, Washington, DC.

Demirgüç-Kunt, Asli, Ernesto Lopez Cordova, Maria Soledad Martinez Peria, and Christopher Woodruff. 2009. “Remittances and Banking Sector Breadth and Depth: Evidence from Mexico.” Policy Research Working Paper 4983, World Bank, Washington, DC.

Gibson, John, and David McKenzie. 2009. “The Microeconomic Determinants of Emigration and Return Migration of the Best and Brightest: Evidence from the Pacific.” Policy Research Working Paper 4965, World Bank, Washington, DC.

Gibson, John, David McKenzie, and Steven Stillman. 2009. “The Impacts of International Migration on Remaining Household Members: Omnibus Results from the Migration Lottery Program.” Policy Research Working Paper 4956, World Bank, Washington, DC.

Giné, Xavier, Dean Karlan, and Jonathan Zinman. 2009. “Put Your Money Where Your Butt Is: A Commitment Contract for Smoking Cessation.” Policy Research Working Paper 4985, World Bank, Washington, DC.

Klapper, Leora, Anat Lewin, and Juan Manuel Quesada Delgado. 2009. “The Impact of the Business Environment on the Business Creation Process.” Policy Research Working Paper 4937, World Bank, Washington, DC.

Love, Inessa, and Susana M. Sanchez. 2009. “Credit Constraints and Investment Behavior in Mexico’s Rural Economy.” Policy Research Working Paper 5014, World Bank, Washington, DC.

McKenzie, David. 2009. “Impact Assessments in Finance and Private Sector Development: What Have We Learned and What Should We Learn?“ Policy Research Working Paper 4944, World Bank, Washington, DC.


 




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