Author: United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Development Institutions and Finance
Banking the Poor explores level and determinants of financial access in 54 countries, mostly in Africa. It collects information from two sources: central banks and leading commercial banks in each surveyed country. It explores associations between countries' banking policies and practices and their levels of financial access, measured in terms of the numbers of bank account per thousand adults. It builds on the previous work measuring financial access through information from regulators, from banks, and also from users' perspectives in household surveys.
The authors examine U.S. efforts to prevent illegal immigration to the United States. Although the United States has witnessed a sharp drop in illegal border crossings in the past decade alongside an enormous increase in government activities to prevent illegal immigration, there remains little understanding of the role enforcement has played. Better data and analyses to assist lawmakers in crafting more successful policies and to support administration officials in implementing these policies are long overdue.
Few issues on the American political agenda are more complex or divisive than immigration. There is no shortage of problems with current policies and practices, from the difficulties and delays that confront many legal immigrants to the large number of illegal immigrants living in the country. Moreover, few issues touch as many areas of U.S. domestic life and foreign policy. Immigration is a matter of homeland security and international competitiveness, as well as a deeply human issue central to the lives of millions of individuals and families. It cuts to the heart of questions of citizenship and American identity and plays a large role in shaping both America's reality and its image in the world. Immigration's emergence as a foreign policy issue coincides with the increasing reach of globalization. Not only must countries today compete to attract and retain talented people from around the world, but the view of the United States as a place of unparalleled openness and opportunity is also crucial to the maintenance of American leadership. There is a consensus that current policy is not serving the United States well on any of these fronts. Yet agreement on reform has proved elusive. The goal of the Independent Task Force on U.S. Immigration Policy was to examine this complex issue and craft a nuanced strategy for reforming immigration policies and practices.
We use loan-level data on syndicated lending to a large sample of developing countries between 1993 and 2017 to estimate the mobilization effects of multilateral development banks (MDBs), controlling for a large set of fixed effects. We find evidence of positive and significant direct and indirect mobilization effects of multilateral lending on the number of deals and on the total size of bank inflows. The number of lending banks and the average maturity of syndicated loans also increase after MDB lending. These effects are present not only on impact, but they last up to three years and are not offset by a decline in bond financing. There is no evidence of anticipation effects and the results are not driven by confounding factors, such as the presence of large global banks, Chinese lending and aid flows. Finally, the economic effects are sizable, suggesting that MBDs can play a vital role to mobilize private sector financing to achieve the goals of the 2030 Development Agenda.
International migration, the movement of people across international boundaries to improve economic opportunity, has enormous implications for growth and welfare in both origin and destination countries. An important benefit to developing countries is the receipt of remittances or transfers from income earned by overseas emigrants. Official data show that development countries' remittance receipts totaled 160 billion in 2004, more than twice the size of official aid. This year's edition of Global Economic Prospects focuses on remittances and migration. The bulk of the book covers remittances.
This publication is the World Bank's annual review of recent trends in and prospects for financial flows to developing countries. It also contains the Bank's projections of the global outlook in light of current global geopolitical uncertainties. It describes a fundamental shift that has occurred in the pattern of private sector financial flows to developing countries. Debt flows have fallen sharply, while equity flows have remained comparatively robust. This shift from debt to equity should diminish the volatility of developing countries' external finance and improve their access to technology, markets, and management expertise. Recovery though has been weak due to broader geopolitical and financial market uncertainties.