Book
Financial Development, Institutions, Growth and Poverty Reduction

This volume explores the various linkages between financial development, institutions, growth and poverty reduction in low-income and transition countries. It is the result of a two-year research project undertaken by UNU-WIDER, and the strong range of contributions present a significant variety of experiences in this important research area. The book contains both cross-country and panel study results, with country case studies from Africa and Asia. Theoretical models are complemented with applied cases, and evidence draws on both macro and micro household level data. The book also identifies key transmission mechanisms between financial development and (pro-poor) development. This volume combines different (quantitative) research methodologies using household data, and innovative theory, and will be of great interest to all academics and practitioners active in this area.

Table of contents
  1. 1. Introduction and Overview
    Basudeb Guha-Khasnobis and George Mavrotas
  2. 2. Sources and Effectiveness of Financial Development: What We Know and What We Need to Know
    Panicos O. Demetriades and Svetlana Andrianova
    More Working Paper | Sources and Effectiveness of Financial Development
  3. 3. The Poverty Macroeconomic Policy Nexus: Some Short-Run Analytics
    George Mavrotas and S. Mansoob Murshed
    More Working Paper | The Poverty Macroeconomic Policy Nexus
  4. 4. Finance and Poverty in Ethiopia: A Household Level Analysis
    Alemayehu Geda, Abebe Shimeles and Daniel Zerfu Gurara
    More Working Paper | Finance and Poverty in Ethiopia
  5. 5. Financial Sector Development, Savings Mobilization and Poverty Reduction in Ghana
    Peter Quartey
    More Working Paper | Financial Sector Development, Savings Mobilization and Poverty Reduction in Ghana
  6. 6. Finance and Growth: An Empirical Assessment of the Indian Economy
    Basudeb Guha-Khasnobis and Pranab K. Das
    More Working Paper | Finance and Growth
  7. 7. The Impact of Financial Openness on Economic Integration: Evidence from Europe and the CIS
    Fabrizio Carmignani and Abdur Chowdhury
    More Working Paper | Does Financial Openness Promote Economic Integration?
  8. 8. Does Financial Liberalization Influence Saving, Investment and Growth?: Evidence from 25 Emerging Market Economies, 1973-1996
    Niels Hermes and Robert Lensink
    More Working Paper | Does Financial Liberalization Influence Saving, Investment and Economic Growth?
  9. 9. The Corporate Debt Market in India: An Analytical Study of Macroeconomic and Institutional Issues
    Basudeb Guha-Khasnobis and Saibal Kar
    More Working Paper | The Corporate Debt Market
  10. 10. Financial Markets and R&D Investments: A Discrete Time Model to Interpret Public Policies
    Marco Mazzoli
    More Working Paper | Financial Markets and R&D Investments
  11. 11. Financial Sector Development and Total Factor Productivity Growth
    Subal C. Kumbhakar and George Mavrotas
    More Working Paper | Financial Sector Development and Productivity Growth
  12. 12. The Effects of Regional Integration: Impact on Real Effective Exchange Rate Volatility, Institutional Quality and Growth for MENA Countries
    Leonardo Becchetti and Iftekhar Hasan
    More Working Paper | The Effects of (within and with EU) Regional Integration
Show all
Endorsements

'This is a considerable work, devoted to the key question of development: how the financial and banking sector can promote necessary and important measures of poverty reduction in developing countries. The financial sector is central to the system-forming element of any type of economy and upon its successful workings depend the efficient functioning of the economy as a whole and economic growth in each country. The experiences of countries in Eastern Europe, Africa, Central and Southern Asia detailed in this book give the reader a full perceptive view of the situation in countries where decisions are being made to orient economic growth and the financial sector towards reducing poverty levels. This book will be useful not only for researchers, but also for financiers and bankers, as well as for teachers and students of economics at college and university.' - Zebigul Zaripova, Senior Scientific Researcher, Institute of Economic Studies, Ministry of the Economy of the Republic of Tajikistan

'This is an excellent book that richly enhances our understanding of the complex relationship between financial development, institutions, growth and poverty reduction in low income and transition countries.' - Chibuike U. Uche, Professor of Banking and Financial Institutions, and Dean Faculty of Business Administration, University of Nigeria