The World Bank’s Board of Executive Directors established the Inspection Panel in 1993 as an independent complaint mechanism for people and communities who believe they have been or likely will be adversely...
Firms from emerging economies increased their bond financing significantly after the 2008-09 global financial crisis. The patterns of corporate borrowing in East Asia and Latin America offer very different...
At the Cannes Summit in 2011, the G20 launched an initiative to prepare an action plan for the development of local currency bond markets (LCBMs). Since then, the IMF and the World Bank have produced brief...
Firms from emerging economies have significantly increased the amount of bond financing, particularly after the Global Financial Crisis and when compared to other financing instruments. The literature...
Poland’s capital markets can play a crucial supporting role to the ongoing economic development and efficient allocation of credit. Capital markets will become increasingly important to meet the long-term...
This paper documents to what extent firms from developing countries borrow short versus long term, using data on corporate bond and syndicated loan markets. Contrary to claims in the literature based on...
This technical note was prepared in the context of a World Bank Financial Sector Assessment Program mission in the Republic of El Salvador in March 2016. The capital markets in El Salvador continue to...
How many and which firms issue equity and bonds in domestic and international markets, how do these firms grow relative to non-issuing firms, and how does firm performance vary along the firm size distribution?...
Securities regulators in many developing countries are looking for ways to help grow their nongovernment bond markets to finance development. A common challenge is onerous regulations for issuance of bonds...
This paper studies how firms from developed and developing countries have used domestic and international corporate bond markets since the 1990s. The authors find that debt issues in domestic and international...
The paper documents the major trends in financial development in Latin America and the Caribbean since the early 1990s. The paper compares trends in Latin America and the Caribbean with those in Asia...
This paper provides the first comprehensive documentation of how firms use domestic and international corporate bond markets. Debt issues in domestic and international markets have different characteristics...
The World Bank Group (WBG), the Asian Development Bank (AsDB), the African Development Bank (AfDB), the Bank for International Settlements (BIS), Inter-American Development Bank (IADB), European Bank for...
The study is in response to a request by the Capital Markets Board of Turkey to assist them in developing the corporate bond market in line with best practices globally. The objective of this study is...
The development of corporate bond markets has been constrained in many emerging economies, partly because the regulatory model is implicitly designed for stand-alone public offerings. Corporate bonds are...
A well-developed corporate bond market is essential for the efficiency and stability of a country's financial system and the overall growth of its economy. Issuers and investors' access to the market provides...
"Whither Latin American Capital Markets?" a study published by the Latin America and Caribbean Region of the World Bank in June 2004, analyzes the status and prospects for capital market development in...
This report reviews the development of the Korean bond market to determine its lessons for China's bond market, which is rapidly expanding. Korea's former regulatory regime and market practices were similar...
This essay raises questions about the role of non-governmental organizations (NGOs) in microfinance. Based on research conducted by the World Bank under the Sustainable Banking with the Poor (SBP) project...
Private investment in developing countries continued its upward trend in 1996, the most recent year for which data exist, on an unweighted average basis. Public investment rates continued a decline that...