Data Dictionary: | World Development Indicators 2010 |
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Data Source: | Social Explorer; The World Bank |
Data set: Original Tables (ORG)
Table: | WDI7. Financial Sector [51] |
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Table Details
WDI7. | Financial Sector | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Relevant Documentation:
Excerpt from: | Social Explorer; World Development Indicators 2013: Technical Documentation |
World development Indicators: Technical Documentation -> Definitions by Topic -> Financial Sector |
An economy's financial markets are critical to its overall development. Banking systems and stock markets enhance growth, the main factor in poverty reduction. Strong financial systems provide reliable and accessible information that lowers transaction costs, which in turn bolsters resource allocation and economic growth. Indicators here include the size and liquidity of stock markets; the accessibility, stability, and efficiency of financial systems; and international migration and workers\ remittances, which affect growth and social welfare in both sending and receiving countries.