Développement financier, instabilité financière,croissance et pauvreté

KPODAR Kangni () and Sylviane Guillaumont Jeanneney ()
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KPODAR Kangni: Fonds Monétaire International

No 200411, Working Papers from CERDI

Abstract: This paper tries to take into account two points of view of the litterature, the first one shows that financial development has positive effect on economic growth, and the second one stresses on the unfavourable effect of financial crisis. Our main assumption is that financial instability is positively correlated with financial development. Therefore, the favorable impact of financial development on economic growth is reduced. Theoretical arguments are presented to support this assumption, which is tested successfully on a sample of developing countries over the period 1966-2000. In addition, financial development and financial instability seem to have specific effects on the mean income of the poorest 20%.

Keywords: Financial Development; Poverty; economic growth (search for similar items in EconPapers)
Date: 2004
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Working Paper: Développement financier, instabilité financière, croissance et pauvreté (2004)
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Persistent link: http://EconPapers.repec.org/RePEc:cdi:wpaper:621

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