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.

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Inclusive." --Résumé de l'éditeur.

Global Development Finance is the World Bank's annual review of global financial conditions facing development countries. This complete edition of the report for 2003 contains two volumes: Vol. 1: Analysis and statistical appendix, shows recent trends in and prospects for financial flows to developing countries; Vol. 2: Summary and country tables, which includes a comprehensive set of tables with statistical data for 138 countries that report debt, as well as summary data for regions and income groups.

This publication identifies the main areas of weakness and potential areas for action to combat money-laundering, tax evasion, foreign bribery, and to identify, freeze and return stolen assets.

Improved understanding of the key role of financial aspects in the growth and development of economic systems is an important aspect of economic analysis. This first textbook on development finance provides a comprehensive coverage of this new area of economics. The book integrates relevant theoretical approaches and their policy applications. A unique perspective combines transaction cost economics and neoclassical economics. The author also treats important policy issues of national and international relevance.

TheWorld Development Report 2003addresses how to lift from poverty the three billion people now living in severe deprivation. It also explores how to improve the quality of life for everybody today and for the two billion more who will join mankind in the next thirty years. Substantial increases in growth and productivity will be necessary to achieve this goal. The current scale of economic activity and speed of change is such that ecosystem and social structures cannot keep up. TheReportputs forth two main messages: the first point is that enhancing prosperity and reducing poverty requires better care of the planet's ecosystem and social fabric. And secondly, that stronger collective action at all levels--from local to global--is essential for generating and scaling up the institutions that can transform growth.