World Development Report 2022 : finance for an equitable recovery / World Bank Group.

Includes bibliographical references.

"The World Development Report 2022 is a practical guide to helping low- and middle-income countries develop strategies to achieve a more equitable economic recovery from the COVID-19 (coronavirus) pandemic. Grounded in research, data collected throughout the crisis, and country case studies, the Report assesses the financial and economic impacts of COVID-19 on households, firms, financial institutions, and governments, and provides recommendations for addressing financial fragilities as nations rebuild. The introduction sets the scene for the report by describing the financial impacts of the COVID-19 pandemic on households, firms, financial sectors, and governments. It also documents the government measures adopted early in the crisis to contain the economic fallout. Chapter 1 then dives into the impacts of the crisis on the preexisting financial fragilities of households, firms, financial institutions, and governments, and lays out the Report's conceptual framework, which focuses on the links between the financial health of these actors. Chapter 1 also explains why resolving macroeconomic risks accumulating from the crisis is important not only for the strength of the recovery, but also for its distributional implications. Chapters 2 and 3 provide blueprints for action to facilitate recovery and address structural gaps in legal and governance rules. Chapter 2 looks at the policies needed to support banks and avoid a credit crunch that could derail recovery as fiscal and financial support programs are scaled back and loan defaults increase. Chapter 3 addresses the critical role of formal and informal bankruptcy frameworks in helping households and small businesses reduce their debt burdens and pursue debt workouts in an orderly manner, mitigating the risks that excessive debt levels pose for recovery. In chapter 4, the potential role of technology is considered, as both a component of the recovery and as a tool that, if managed well, will help to expand access, opportunity, and transparency in the crisis recovery. Chapter 5 then takes on the pressing challenge of rising government debt and puts forward strategies to improve debt management. The Report concludes with insights on unwinding government support programs and tackling the global challenges ahead, while also pointing out the questions that can only be answered by ongoing, targeted research"--

Economics.