Global Financial Development Report 2013 is the first in a new World Bank series. It provides a unique contribution to financial sector policy debates, building on novel data, surveys, research, and wide-ranging country experience, with emphasis on emerging-market and developing economies. The...

At present primarily governed by market forces with little regulatory interference, international financial relations have become increasingly important for global as well as national economies. Contributors to this volume consider whether this absence of regulation is wise, in the light of...