{"type":"script","doc_desc":{"producers":[{"name":"Reproducibility WBG","abbr":"DECDI","affiliation":"World Bank - Development Impact Department","role":"Verification and preparation of metadata"}],"prod_date":"2025-09-23","version":"1"},"project_desc":{"authoring_entity":[{"name":"Diego M. Sourrouille","affiliation":"World Bank","email":"dsourrouille@worldbank.org"}],"title_statement":{"title":"Reproducibility package for Finance And Prosperity 2025","idno":"FR_WLD_2025_418"},"data_statement":"Some data is restricted and has not been included in the reproducibility package. For more details, please refer to the README file. ","software":[{"name":"Stata","version":"18 MP"},{"version":"Microsoft Excel for Microsoft 365 MSO","name":"Excel"}],"scripts":[{"title":"Reproducibility package for Finance And Prosperity 2025","date":"2025-09","notes":"Computational reproducibility verified by Development Impact (DECDI) Analytics team, World Bank.","instructions":"See README in reproducibility package.","file_name":"FR_WLD_2025_418","zip_package":"FR_WLD_2025_418.zip","dependencies":"Stata dependencies are listed in the ado folder."}],"repository_uri":[{"name":"Reproducible Research Repository (World Bank)","uri":"https:\/\/reproducibility.worldbank.org"}],"production_date":"2025-09-23","abstract":"This second edition of the Finance and Prosperity report analyzes new data and highlights a growing divergence in financial sector resilience and stability among emerging market and developing economies (EMDEs), addressing the Micro, Small and Medium Enterprises Finance Gap, and narrowing the Insurance Protection Gap for Natural Disasters.","geographic_units":[{"name":"World","code":"WLD"}],"output":[{"type":"Flagship or other report","description":"World Bank Reports & Flagships","title":"Finance And Prosperity 2025"}],"language":[{"name":"English","code":"EN"}],"disclaimer":"The materials in the reproducibility packages are distributed as they were prepared by the staff of the International Bank for Reconstruction and Development\/The World Bank. The findings, interpretations, and conclusions expressed in this event do not necessarily reflect the views of the World Bank, the Executive Directors of the World Bank, or the governments they represent. The World Bank does not guarantee the accuracy of the materials included in the reproducibility package.","license":[{"name":"Modified BSD3","uri":"https:\/\/opensource.org\/license\/bsd-3-clause\/"}],"contacts":[{"name":"Diego M. Sourrouille","affiliation":"World Bank","email":"dsourrouille@worldbank.org"},{"name":"Reproducibility WBG","affiliation":"World Bank","email":"reproducibility@worldbank.org"}],"datasets":[{"name":"Bloomberg Data","note":"Source: Bloomberg. Indicators consulted: Countries' EMBI, US 10-year Treasury yield, sovereign ratings (LT FC), and stock market capitalization (combined with WEO GDP). \nFiles location: Data\/01 Raw Data\/embi_q_since2018.xlsx (accessed 2025-07-29); \nData\/01 Raw Data\/bbg_corporates.dta (accessed 2025-03-01). \nBloomberg inputs were also used for tabs in fig1_1b.xlsx (sovratings, stock market cap; accessed 2025-08-07 and 2025-08-11).","access_type":"Data is restricted and not included in the reproducibility package","uri":"https:\/\/www.bloomberg.com\/","citation":"Bloomberg. 2025. Bloomberg Financial Data [dataset]. https:\/\/www.bloomberg.com. Accessed 2025-03\u20132025-08."},{"name":"Fitch Solutions (Fitch Connect)","uri":"https:\/\/www.fitchsolutions.com\/fitch-connect","access_type":"Data is restricted and not included in the reproducibility package","note":"Source: Fitch Solutions (Fitch Connect). \nFiles location: Data\/01 Raw Data\/2023.dta; Data\/01 Raw Data\/2024.dta; Data\/02 Intermediate Data\/db_credit_reserve_stress_Y2024v.dta; db_sover_reserve_stress_Y2024v.dta; db_credit_reserve_stress_Y2023v.dta; db_sover_reserve_stress_Y2023v.dta; fitchidcredity2; fitchidsovy2 (all accessed 2025-07-17). \nThese files contain bank financials and derived stress metrics used for Fig. 1.6.","citation":"Fitch Solutions. 2025. Fitch Connect Financials and Stress Metrics [dataset]. https:\/\/www.fitchsolutions.com\/fitch-connect. Accessed 2025-07-17."},{"name":"International Financial Statistics","uri":"https:\/\/legacydata.imf.org\/?sk=4C514D48-B6BA-49ED-8AB9-52B0C1A0179B","access_type":"Data is publicly available and included in the reproducibility package","note":"Source: International Monetary Fund (IMF). 2025. International Financial Statistics.\nFiles location: Data\/01 Raw Data\/IFS_06-30-2025 18-24-26-07_timeSeries.csv (accessed 2025-06-30); \nData\/02 Intermediate Data\/ifs_totalassetsbanks2023.dta (accessed 2025-06-30); \nData\/02 Intermediate Data\/ifs_totalassetsbanks2024.dta (accessed 2025-06-30); \nPopulation data.\nVariables include: Other depository corporations\u2019 data and total assets. A helper file built from IFS (parcial_ifs.dta) is provided to save processing time.\nIFS inputs were also used for tabs in fig1_1b.xlsx","license_uri":"https:\/\/www.imf.org\/en\/About\/copyright-and-terms#data","citation":"International Monetary Fund (IMF). 2025.. \"International Financial Statistics [dataset],\" https:\/\/legacydata.imf.org\/?sk=4C514D48-B6BA-49ED-8AB9-52B0C1A0179B, 2025-06-30."},{"name":"World Economic Outlook","citation":"International Monetary Fund (IMF). 2025. World Economic Outlook Database, April 2025 [dataset]. https:\/\/www.imf.org\/en\/Publications\/WEO\/weo-database\/2025\/april. Accessed 2025-04-22 and 2025-08-11\/14.","uri":"https:\/\/www.imf.org\/en\/Publications\/WEO\/weo-database\/2025\/april","access_type":"Data is publicly available and included in the reproducibility package","note":"Files\/location: Data\/02 Intermediate Data\/weo_apr_2025.dta (accessed 2025-04-22). \nWEO GDP (NGDPD) was also used in fig1_1b.xlsx (tabs \u2018public debt\u2019, \u2018stock market cap\u2019) with access dates 2025-08-11 and 2025-08-14.","license_uri":"https:\/\/www.imf.org\/en\/About\/copyright-and-terms#data"},{"name":"Bank Regulation and Supervision Survey","uri":"https:\/\/www.worldbank.org\/en\/research\/brief\/BRSS","access_type":"Data is publicly available and included in the reproducibility package","note":"Files location: Data\/02 Intermediate Data\/min_cap_requir_012024.dta (access year 2025). \nContent: minimum capital requirements, updated with collected data where possible.","license_uri":"https:\/\/www.worldbank.org\/en\/about\/legal\/terms-of-use-for-datasets","citation":"World Bank. 2025. Bank Regulation and Supervision Survey [dataset]. https:\/\/www.worldbank.org\/en\/research\/brief\/BRSS. Accessed 2025."},{"name":"World Bank Country and Lending Groups","note":"Source: Author's elaboration with information from World Bank Country and Lending Groups. Files location: countrycodes.dta; AEEM.dta; ess_cncode_2023.dta.","access_type":"Data is publicly available and included in the reproducibility package","license":"Creative Commons Attribution 4.0 (CC-BY 4.0)","license_uri":"https:\/\/datacatalog.worldbank.org\/public-licenses#cc-by","uri":"https:\/\/datahelpdesk.worldbank.org\/knowledgebase\/articles\/906519-world-bank-country-and-lending-groups","citation":"World Bank. 2025. Country and Lending Groups [dataset]. https:\/\/datahelpdesk.worldbank.org\/knowledgebase\/articles\/906519-world-bank-country-and-lending-groups. Accessed 2025."},{"name":"FinStats Database 2025","note":"Source: Authors elaboration with information from World Bank. Contains information of income groups medians of insurance, pension funds and mutual fund assets as percentage of GDP. ","citation":"World Bank. 2025. FinStats Database 2025 [dataset]. (Internal dataset; no public link available.)","access_type":" Data access requires human approval and is not included in the reproducibility package."},{"name":"Macro Poverty Outlook","uri":"https:\/\/www.worldbank.org\/en\/publication\/macro-poverty-outlook#sec4","access_type":"Data is publicly available and included in the reproducibility package","note":"Source: World Bank. Macro Poverty Outlook. Used in fig1_1b.xlsx (tab \u2018ext debt service\u2019; accessed 2025-08-07). Variable: External Debt Interest Payments, LCU, % of GDP.","citation":"World Bank. 2025. Macro Poverty Outlook [dataset]. https:\/\/www.worldbank.org\/en\/publication\/macro-poverty-outlook#sec4. Accessed 2025-08-07."},{"name":"World Development Indicators ","access_type":"Data is publicly available and included in the reproducibility package","license":"Creative Commons Attribution 4.0 (CC-BY 4.0)","license_uri":"https:\/\/datacatalog.worldbank.org\/public-licenses#cc-by","uri":"https:\/\/databank.worldbank.org\/source\/world-development-indicators","note":"Used in fig1_1b.xlsx (tab \u2018ext debt service\u2019; accessed 2025-08-07). Variable: External Debt Interest Payments, LCU, % of GDP.","citation":"World Bank. 2025. World Development Indicators [dataset]. https:\/\/databank.worldbank.org\/source\/world-development-indicators. Accessed 2025-08-07"},{"name":"Classification of Fragile and Conflict-Affected Situations","uri":"https:\/\/www.worldbank.org\/en\/topic\/fragilityconflictviolence\/brief\/harmonized-list-of-fragile-situations","access_type":"Data is publicly available and included in the reproducibility package","note":"Source: World Bank. \nUsed in fig1_1b.xlsx (tab \u2018fragility\u2019; accessed 2025-08-14). Description: share of countries classified as conflict or institutional fragility by risk bracket.","license":"Creative Commons Attribution 4.0 (CC-BY 4.0)","license_uri":"https:\/\/datacatalog.worldbank.org\/public-licenses#cc-by","citation":"World Bank. 2025. Harmonized List of Fragile Situations [dataset]. https:\/\/www.worldbank.org\/en\/topic\/fragilityconflictviolence\/brief\/harmonized-list-of-fragile-situations. Accessed 2025-08-14."},{"uri":"https:\/\/gain.nd.edu\/our-work\/country-index\/","name":"Notre Dame Global Adaptation Initiative Country Index ","note":"Used in fig1_1b.xlsx (tab \u2018gain\u2019; accessed 2025-08-14). Content: ND-GAIN scores (higher is better).","access_type":"Data is publicly available and included in the reproducibility package","citation":"Notre Dame Global Adaptation Initiative (ND-GAIN). 2025. ND-GAIN Country Index [dataset]. https:\/\/gain.nd.edu\/our-work\/country-index\/. Accessed 2025-08-14."},{"name":"Enterprise Surveys","uri":"https:\/\/www.enterprisesurveys.org\/en\/data","note":"Source: World Bank. \nFiles location: Data\/01 Raw Data\/Biggest Obstacle.xlsx (accessed 2025-08-19); Data\/01 Raw Data\/Collapsed Table-2025 5-6-2025.dta (accessed 2025-05-06). Derived\/reshaped files: Data\/02 Intermediate Data\/numberoffirms.dta (built from ES collapsed tables).","access_type":"Data is publicly available but does not allow redistribution, and it is not included in the reproducibility package","citation":"World Bank. 2025. Enterprise Surveys [dataset]. https:\/\/www.enterprisesurveys.org\/en\/data. Accessed 2025-05\u20132025-08."},{"name":"PitchBook","uri":"https:\/\/pitchbook.com\/","access_type":"Data is restricted and not included in the reproducibility package.","note":"Files location: Data\/01 Raw Data\/Pitchbook Data_June 10 2025.xlsx (accessed 2025-06-10); Data\/02 Intermediate Data\/vc_allocation_by_firm_size.xlsx (accessed 2025-05-23); Data\/02 Intermediate Data\/kinvested.dta (derived capital invested by country\/category). Helper mapping: pitch_cncode.dta. These files underpin Figs. 2.6\u20132.8.","citation":"PitchBook. 2025. PitchBook Venture Capital and Private Equity Data [dataset]. https:\/\/pitchbook.com. Accessed 2025-05\u20132025-06.","license_uri":"https:\/\/pitchbook.com\/terms-of-use"},{"name":"2023 Business Dynamics Statistics Data Tables","uri":"https:\/\/www.census.gov\/data\/tables\/time-series\/econ\/bds\/bds-tables.html","access_type":"Data is publicly available and included in the reproducibility package","note":"Source: US Census.\nFiles location: Data\/01 Raw Data\/BDSTIMESERIES.BDSFAGEFSIZE-Data 1.xlsx (accessed 2025-06-10). Derived file: Data\/02 Intermediate Data\/usfirms.dta (reshaped to study categories).","citation":"U.S. Census Bureau. 2025. Business Dynamics Statistics (2023 release) [dataset]. https:\/\/www.census.gov\/data\/tables\/time-series\/econ\/bds\/bds-tables.html. Accessed 2025-06-10."},{"name":"Micro, Small and Medium Enterprises Finance Gap","note":"Source: International Monetary Fund (forthcoming). \nFiles location: Data\/01 Raw Data\/Graphs - FCI input.xlsx. Expected publication: Q3 FY2026 (Jan\u2013Feb 2026 tentative). Figures affected: 2.3, 2.4.\nPre-publication data shared under restrictions; not included in the public reproducibility package.\n","access_type":"Data is restricted and not included in the reproducibility package","citation":"International Monetary Fund. Forthcoming 2026. MSME Finance Gap Dataset [dataset]. (Pre-publication restricted data shared by IMF)."},{"name":"World Bank Staff Assessment","note":"Files location: Data\/01 Raw Data\/fig1_1a.xlsx; fig1_1c.xlsx; fig1_7.xlsx; fig1_8.xlsx; figB1_2.xlsx; figB1_3.xlsx (survey period: March\u2013May 2025). Please also see: raw data folder document \u201cFormat of Survey for fig 1_1, 1_2, 1_8, 1_9, B1_2, B1_4.docx.\nOnly aggregated survey results, as shown in the figures, are included in the package; raw survey inputs are not publicly available.","access_type":"Aggregated data is included in the reproducibility package","citation":"World Bank Staff. 2025. Internal Staff Assessment Survey Data (aggregated) [dataset]. (Internal dataset; survey conducted March\u2013May 2025.)"},{"uri":"https:\/\/unctad.org\/topic\/commodities\/state-of-commodity-dependence","name":"The State of Commodity Dependence","note":"Source: UN Trade and Development. \nUsed in fig1_1b.xlsx (tab \u2018ext debt service\u2019; accessed 2025-08-14). ","access_type":"Data is publicly available and included in the reproducibility package","citation":"UNCTAD. 2025. State of Commodity Dependence [dataset]. https:\/\/unctad.org\/topic\/commodities\/state-of-commodity-dependence. Accessed 2025-08-14."},{"uri":"https:\/\/www.iais.org\/uploads\/2024\/12\/Global-Insurance-Market-Report-2024.pdf","name":"Global Insurance Market Report","note":"Source: International Association of Insurance Supervisors. accessed 2025-04.\n \n","access_type":"Data is restricted and not included in the reproducibility package","citation":"International Association of Insurance Supervisors (IAIS). 2024. Global Insurance Market Report 2024 [dataset]. https:\/\/www.iais.org. Accessed 2025-04."},{"note":"Source: OECD Data Explorer. accessed 2025-05-21.","access_type":"Data is publicly available and included in the reproducibility package","uri":"https:\/\/data-explorer.oecd.org\/vis?lc=en&df[ds]=dsDisseminateFinalDMZ&df[id]=DSD_INS%40DF_BSI&df[ag]=OECD.DAF.CM&df[vs]=1.0&dq=.A.CLM%2BASS.USD..._T..DIR......&pd=2013%2C2023&to[TIME_PERIOD]=false&vw=tb","name":"Balance sheet and income statement of insurance companies","license_uri":"https:\/\/www.oecd.org\/en\/about\/terms-conditions.html","license":"OECD Terms & Conditions","citation":"OECD. 2025. Balance Sheet and Income Statement of Insurance Companies [dataset]. https:\/\/data-explorer.oecd.org. Accessed 2025-05-21."},{"uri":"https:\/\/axco.co.uk\/SSO?previous=\/Portal","access_type":"Data is restricted and not included in the reproducibility package","note":"Source: Axco Portal.\nIndicator consulted: Average non-life penetration unweighted by income groups. \nSpecific instructions on how to download the data are included in the reproducibility package. Accessed 2025-06.","name":"Axco Portal Data","citation":"Axco. 2025. Insurance Market Intelligence Data [dataset]. https:\/\/axco.co.uk. Accessed 2025-06."},{"name":"Financial Access Survey","note":"Source: International Monetary Fund","uri":"https:\/\/data.imf.org\/en\/datasets\/IMF.STA:FAS","license_uri":"https:\/\/www.imf.org\/external\/terms.htm","access_type":"Data is publicly available and included in the reproducibility package","citation":"International Monetary Fund. 2025. Financial Access Survey (FAS) [dataset]. https:\/\/data.imf.org\/en\/datasets\/IMF.STA:FAS. Accessed April 2025."},{"name":"INFORM RISK","uri":"https:\/\/drmkc.jrc.ec.europa.eu\/inform-index\/","access_type":"Data is publicly available and included in the reproducibility package","note":"Source: European Commission\nAccessed 2025-04.","citation":"European Commission JRC. 2025. INFORM Risk Index [dataset]. https:\/\/drmkc.jrc.ec.europa.eu\/inform-index\/. Accessed 2025-04."},{"uri":"https:\/\/www.worldbank.org\/en\/publication\/rising-to-the-challenge-climate-adaptation-resilience#data","name":"Exposed and Vulnerable Population Data","access_type":"Data is publicly available and included in the reproducibility package","note":"Source: World Bank. \nIndicator: Share of population that is exposed and vulnerable to climate-related hazards. Figure ES.1. ","citation":"World Bank. 2025. Exposed and Vulnerable Population to Climate Hazards [dataset]. https:\/\/www.worldbank.org\/en\/publication\/rising-to-the-challenge-climate-adaptation-resilience#data. Accessed 2025."},{"uri":"https:\/\/www.swissre.com\/risk-knowledge\/mitigating-climate-risk\/natcat-protection-gap-infographic.html#\/","note":"Source: Swiss Re.\nData was manually copied by the authors from the link below. The detailed process is explained in the README file. Accessed 2025-06.\n","access_type":"Data is publicly available and included in the reproducibility package","name":"Protection Gap Data","citation":"Swiss Re. 2025. Natural Catastrophe Protection Gap Data [dataset]. https:\/\/www.swissre.com. Accessed 2025-06"}],"reproduction_instructions":"1. **Obtain Access to the Restricted Data:** Most datasets are restricted and require special permissions. See the README for details on each dataset and how to request access. For most users, it will be very difficult to obtain all of the required data, as some datasets are confidential or require special approval processes.\n2. **Place the Data in the Appropriate Folder:** Update the file paths in the main do-file `_codemaster.do` to your local setup so they match the directory where the data is stored.\n3. **Run the Main Do File:** After updating the file paths, run the main do-file.\n\nBecause obtaining access to all required datasets will be very difficult for most users, this reproducibility package includes the outputs generated by the replicators. These are stored in the following locations:\n- `\\Chapter 1\\processed_data`  \n- `\\Chapter 2\\processed_data`  \n- `Data reproducibility - F&P Chapter 3.xlsx`\nAll additional details, including dataset descriptions and access instructions, are provided in the **README** file.\n","technology_environment":"Paper exhibits were reproduced on a computer with the following specifications:\n\u2022 OS: Windows 11 Enterprise, version 24H2\n\u2022 Processor: Intel(R) Core(TM) Ultra 7 165U (2.10 GHz)\n\u2022 Memory available: 32 GB","technology_requirements":"Runtime: 5 minutes"},"tags":[{"tag":"DOI"},{"tag":"Forthcoming Data"},{"tag":"Open Code"},{"tag":"Open Data"},{"tag":"Restricted Code"},{"tag":"Restricted Data"}],"schematype":"script"}