Discussion Paper - Financial Development – A Broader Perspective
In October the ICFR’s Director of Research, Richard Reid, presented the first ever ICFR discussion paper to a conference on financial development in the merging world at the Brookings Institution. The conference was the first element of an ongoing research agenda sponsored jointly by Brookings, the Asian Development Bank Institute, the ICFR and other third parties. The paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical policy lessons can be drawn from historical experience.
The ICFR will be following up this paper with a number of further research offerings. These will focus on aspects of financial development which have been raised by the first discussion paper.