There is a good reason to justify the support for small and microenterprise development. At this point, what is more important is the formulation of research agenda that will facilitate the introduction of new insights into the sector’s development. This paper provides a background to the...

The degree of an economy’s monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal...

The West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment projects. In addition to providing an institutional...

Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as...

Reviews evidence from economic research on the relationship between financial intermediation, growth and employment, focusing on macroeconomic aspects. Shows how developments in the financial sector do contribute to economic growth and highlights the importance of the ability of firms to raise...

This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...