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It now has a healthier banking system and stronger companies, but must still improve labor utilization, enhance competition in product markets, liberalize the agriculture sector, and encourage foreign direct investment to achieve a major transformation. He argues that countries outside Asia will have to realign their growth strategies to not just cope with the rise of China and India but also to take advantage of it.

Asia's Investment Puzzle Charles Kramer The investment decline in emerging Asia has been prolonged, sizable, and broad-based, reflecting a fall in private investment. Despite the recovery of Asia's economy from the crisis, lingering uncertainty appears to be holding back investment.

Law, Finance & Development

What Happened? In , Latin America was the most developed region outside the industrialized countries, but half a century later East Asia had leapt to the front, while Latin America's position had declined. A look at the underlying reasons. But a key obstacle to further growth is the region's weak financial sectors—among the least developed in the world. More must be done to broaden the financial base and give small and medium-sized firms access to finance.

Visiting fellow

EU: From Monetary to Financial Union Wim Fonteyne Financial integration in Europe picked up renewed momentum when the euro was introduced in , but progress since then has proved to be more difficult than expected. Some fundamental policy questions need to be addressed for the integration process to be completed. King, R. Levine, R. Lu, X. Majid, M. Marques, L. McKinnon, Ronald I.

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Brookings Institute, Washington, DC. Muyambiri, B. Accessed 12 August Accessed 12 June Nazlioglu, S. Odhiambo, N. Patrick, H. Robinson, J.

Financing for Development at the World Bank Group

Rousseau, P. Shan, J.

What Happened? - Finance & Development, June

Shaw, Edward S. Xu, Z. Baier, S.

  • Moviola de tres vidas truncadas (Spanish Edition).
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Beck, T. Boubakari , A. Brasoveanu-Obreja, L. Calderon, C. Caporale, G.

IZA DP No. 2160: Remittances, Financial Development, and Growth

Chang, T. Chung, S. Tai, S. Demirhan, E. Dumiter F. El-Wassal, K. Fama, E. Efficient capital market, Journal of Finance 46 5 , Garretsen, H. Ghirmay, T. Goldsmith, R. Graff, M. Hanousek, J. Herve, D. Hondroyiannis, G. Kar, M. King, R.