What major insights have emerged from development economics in the past decade, and how do they matter for the World … Bank? This challenging question was recently posed by World Bank Group President David Malpass to the staff of the …

process of financial globalization. Our central findings indicate that policies promoting financial sector development …, institutional quality, and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound … unavoidable inherent tensions in evaluating the risks and benefits associated with financial globalization. In the light of these …