The International Finance Corporation (IFC) as a member of World Bank Group is the largest multilateral source of loan and equity financing for private sector projects in developing countries. Particular focus of International Finance Corporation is to promote economic development by encouraging...

This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....