Global Financial Development Report
Global Financial Development Report 2014 is the second in a new World Bank series, following the inaugural 2013 Global Financial Development Report, which re-examined the state’s role in finance after the global financial crisis. Common to both reports is that they present a nuanced approach to financial sector policy, grounded in a synthesis of new research evidence.
The report presents new data and research, drawing on them to contribute to the policy discussion. It highlights novel evidence that financial inclusion, through remittances, can reduce poverty and boost shared prosperity. Remittances constitute an important form of financial transactions, especially for those that are among the poorest layers of the society, with limited access to formal banking services.