World Economic and Social Survey 1999

Trends and Policies in the World Economy

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Part one. State of the World Economy: provides a chronicle of how large parts of the world economy were sent reeling in the past two years by the fragility of financial systems and their international connectedness. On the whole, the world economy seems to have hit bottom and most of the affected countries are moving towards recovery. Part two. Financial Development in the Globalizing World: serves as a contribution to the international discussion on “financing for development”. It seeks to give a perspective on the major changes that have been taking place in recent decades in the banking and financial systems of developed, developing and transition economies.



Challenges for Developing and Transition Economies In the Global Financial System

The participation of developing and transition economies in international financial markets expanded significantly over the past decade. As a result, their domestic financial structures have been increasingly exposed to the dynamics of global finance, which have themselves been rapidly evolving.


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