This note provides an overview of the literature on the challenges posed by shallow financial systems for macroeconomic policy implementation. Countries with sh

This paper presents traction as a multidimensional concept and discusses a comprehensive and complementary set of approaches to attempt to measure it based on t

This paper assesses progress made in deepening and integrating systemic risk analysis and macroprudential policy advice in Article IV consultations following up

This note explores how characteristics of financial systems commonly observed in low income countries may shape the approach to the staff’s advice on macropru

This paper aims to widen the lens through which surveillance is conducted in LICs, to better account for the interplay between financial deepening and macro-fin