Contractual Savings in Countrieswith a Small Financial Sector

Impavido, Gregorio ; Musalem, Alberto R. ; Vittas, Dimitri

World Bank, Washington, D.C.

关键词: CONTRACTUAL SAVINGS;    FINANCIAL SECTOR;    FINANCIAL SYSTEMS;    GOVERNANCE;    WEALTH;   

DOI  :  10.1596/1813-9450-2841
RP-ID  :  WPS2841

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Countries with small financial systemsare generally small economies with a reduced dimension ofinstitutional relationships, a greater concentration ofwealth, and a relatively less independent civil service.These characteristics facilitate concentration of functionsand, more generally, weak governance. Only small economieswith a relatively high level of per capita income, minimumcore of sound banks and insurance companies, sound andcredible macroeconomic policies, and open capital accountscan benefit from the development of contractual savings.This can increase the options to obtain sound coverageagainst contingencies, increase the supply of long termsavings, promote financial deepening, and improve financialrisk management.