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.
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'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