the costs of delivering financial services and where savings can be more readily mobilized to support growth. …

costs and provisioning for loan losses remain high compared to some other economies. Profitability of the aggregate banking …

"The authors study the effect of reorganization costs on the efficiency of bankruptcy laws. They develop a simple model … that predicts that in a regime with high costs, the law fails to achieve the efficient outcome of liquidating unviable … lowering reorganization costs, the reform improved the selection of viable firms into reorganization. In this sense, the new …

"This paper discusses some of the key characteristics of the U.S. subprime mortgage boom and bust, contrasts them with … characteristics of emerging mortgage markets, and makes recommendations for emerging market policy makers. The crisis has raised … questions in the minds of many as to the wisdom of extending mortgage lending to low and moderate income households. It is …

facilitate the development of mortgage-related securities. Despite such a strong appeal, there are significant barriers to the … development of mortgage securities in emerging markets. Their success is dependent on many factors, starting with a strong legal … and regulatory framework and liberalized financial sector, and including a developed primary mortgage market. The …

informal, and the impact of normalization on their profitability. The analysis finds that the impact of tax registration on … profitability depends on firm size and the ability to issue tax receipts, and presents a set of prioritized policy implications for … costs. Increasing even-handed enforcement of taxation and regulation is also important but not a priority for micro and …