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Asli Demirguc-Kunt



Asli Demirguc-Kunt, Director of Research 
Asli Demirgüç-Kunt
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Finance and Private Sector Development Research Group








ASLI DEMIRGÜÇ-KUNT is the Director of Research in the World Bank. After joining the Bank in 1989 as a Young Economist, she has held different positions, including Director of Development Policy, Chief Economist of Financial and Private Sector Development Network, and Senior Research Manager, doing research and advising on financial sector and private sector development issues. She is the lead author of World Bank Policy Research Report 2007, Finance for All? Policies and Pitfalls in Expanding Access. She has also created the World Bank’s Global Financial Development Report and directed the issues on Rethinking the Role of the State in Finance (2013), and Financial Inclusion (2014).

The author of over 100 publications, Ms. Demirgüç-Kunt has published widely in academic journals. Her research has focused on the links between financial development and firm performance and economic development. Banking crises, financial regulation, access to financial services including SME finance are among her areas of research. Prior to coming to the Bank, she was an Economist at the Federal Reserve Bank of Cleveland. She holds a Ph.D. and M.A. in economics from the Ohio State University.
















World Bank working papers and publications

1 .Corporate governance and bank insolvency risk : international evidence
2 .Does local financial development matter for firm lifecycle in India ?
3 .Bank capital and systemic stability
4 .Deposit insurance database
5 .Size and age of establishments: evidence from developing countries
6 .How does corporate governance affect bank capitalization strategies ?
7 .Islamic finance and financial inclusion: measuring use of and demand for formal financial services among Muslim adults
8 .Financial inclusion and legal discrimination against women : evidence from developing countries
9 .Rethinking the state's role in finance
10 .Incentive audits : a new approach to financial regulation
11 .Bank regulation and supervision around the world : a crisis update
12 .How does deposit insurance affect bank risk ? evidence from the recent crisis
13 .The foundations of financial inclusion : understanding ownership and use of formal accounts
14 .Benchmarking financial systems around the world
15 .Bank ownership and credit over the business cycle : is lending by state banks less procyclical?
16 .Financial inclusion in Africa : an overview
17 .Financing of firms in developing countries : lessons from research
18 .Measuring financial inclusion : the Global Findex Database
19 .How does bank competition affect systemic stability ?
20 .Is the financial safety net a barrier to cross-border banking ?
21 .Has the global banking system become more fragile over time ?
22 .Remittances and financial inclusion : evidence from El Salvador
23 .Do Phoenix miracles exist ? firm-level evidence from financial crises
24 .Is small beautiful ? financial structure, size and access to finance
25 .The evolving importance of banks and securities markets
26 .Small vs. young firms across the world : contribution to employment, job creation, and growth
27 .Do we need big banks ? evidence on performance, strategy and market discipline
28 .A framework for analyzing competition in the banking sector : an application to the case of Jordan
29 .Bank capital : lessons from the financial crisis
30 .Islamic vs. conventional banking : business model, efficiency and stability
31 .Are banks too big to fail or too big to save ? International evidence from equity prices and CDS spreads
32 .Are innovating firms victims or perpetrators ? tax evasion, bribe payments, and the role of external finance in developing countries
33 .The World Bank economic review 24 (1)
34 .Basel core principles and bank soundness : does compliance matter ?
35 .Banks and microbanks
36 .Microfinance tradeoffs : regulation, competition, and financing
37 .Does regulatory supervision curtail microfinance profitability and outreach ?
38 .Finance and inequality : theory and evidence
39 .Remittances and banking sector breadth and depth : evidence from Mexico
40 .Entrepreneurship in post-conflict transition : the role of informality and access to finance
41 .Financial institutions and markets across countries and over time - data and analysis
42 .Bank activity and funding strategies : the impact on risk and returns
43 .The World Bank research observer 24 (1)
44 .Are all the sacred cows dead ? implications of the financial crisis for macro and financial policies
45 .Bank financing for smes around the world : drivers, obstacles, business models, and lending practices
46 .The 2007 meltdown in structured securitization : searching for lessons, not scapegoats
47 .Microfinance meets the market
48 .Finance and economic opportunity
49 .Finance, financial sector policies, and long-run growth
50 .Formal versus informal finance : evidence from China
51 .The World Bank economic review 22 (3)
52 .Firm innovation in emerging markets : the roles of governance and finance
53 .Banking services for everyone ? Barriers to bank access and use around the world
54 .Deposit insurance design and implementation : policy lessons from research and practice
55 .Do workers' remittances promote financial development ?
56 .Banking on the principles : compliance with Basel Core Principles and bank soundness
57 .Finance and economic development : policy choices for developing countries
58 .What determines protection of property rights ? An analysis of direct and indirect effects
59 .Determinants of deposit-insurance adoption and design
60 .Financial performance and outreach : a global analysis of leading microbanks
61 .How important are financing constraints ? The role of finance in the business environment
62 .Reaching out : access to and use of banking services across countries
63 .Cross-country empirical studies of systemic bank distress : a survey
64 .How well do institutional theories explain firms' perceptions of property rights?
65 .Deposit insurance around the world : a comprehensive database
66 .Finance, firm size, and growth
67 .Finance, inequality, and poverty: cross-country evidence
68 .Business Environment and the Incorporation Decision
69 .The determinants of financing obstacles
70 .Law and firms' access to finance
71 .Small and medium enterprises, growth, and poverty : cross-country evidence
72 .Small and medium enterprises across the globe : a new database
73 .Bank concentration and crises
74 .Bank supervision and corporate finance
75 .The impact of bank regulations, concentration, and institutions on bank margins
76 .Bank competition, financing obstacles, and access to credit
77 .Financial and legal institutions and firm size
78 .World development report 2002 : building institutions for markets
79 .Law and finance : why does legal origin matter?
80 .Financial and legal constraints to firm growth - Does size matter?
81 .Informe sobre el desarrollo mundial 2002 : instituciones para los mercados
82 .Rapport sur le developpement dans le monde 2002 : des institutions pour les marches
83 .Firms as financial intermediaries - evidence from trade credit data
84 .World development report 2002 - building institutions for markets
85 .Deposit insurance around the globe : where does it work?
86 .World development report 2002 : building institutions for markets
87 .World development report 2002 : building institutions for markets
88 .World development report 2002 : building institutions for markets - overview
89 .World development report 2002 : building institutions for markets
90 .World development report 2002 : building institutions for markets - overview
91 .Law, politics, and finance
92 .The World Bank economic review 15 (3)
93 .Financial structure and bank profitability
94 .Financial structure and economic development - firm, industry, and country evidence
95 .Funding growth in bank-based and market-based financial systems : evidence from firm level data
96 .Inside the crisis : an empirical analysis of banking systems in distress
97 .The World Bank economic review 14 (2)
98 .Does deposit insurance increase banking system stability? - an empirical investigation
99 .Market discipline and financial safety net design
100 .A new database on financial development and structure


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