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Access to finance is critical to ensuring productive investments. Yet a myriad of financial distortions, frictions, and market failures can prevent the efficient allocation of financial resources toward the most productive firms and uses and negatively impact aggregate productivity and economic growth. Drawing from a newly constructed dataset of 2.5 million private firms, this report presents novel evidence about the productivity gains that low- and middle-income countries can obtain by removing financial distortions and fostering efficient and inclusive financial markets.

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9781464819391

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The World Bank came into formal existence in 1945 following the international ratification of the Bretton Woods agreements. It is a vital source of financial and technical assistance to developing countries around the world. The organization's activities are focused on education, health, agriculture and rural development, environmental protection, establishing and enforcing regulations, infrastructure development, governance and legal institutions development. The World Bank is made up of two unique development institutions owned by its 185 Member Countries. The International Bank for Reconstruction and Development (IBRD) focuses on middle income and creditworthy poor countries and the International Development Association (IDA), which focuses on the poorest countries in the world.

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