Financial Development, Financial Instability and Poverty

Sylviane Guillaumont Jeanneney () and Kangni Kpodar

No 2005-09, CSAE Working Paper Series from Centre for the Study of African Economies, University of Oxford

Abstract: This article investigates how financial development is beneficial to the reduction of poverty, on the one hand by promoting growth and in the other hand directly by the McKinnon conduit effect. At the same time, however, financial instability which accompanies financial development is detrimental to the poor and dampens the positive effect of financial development on the reduction of poverty. These hypotheses are tested successfully on a sample of developing countries over the period 1966-2000, resulting in straightforward policy implications.

JEL-codes: G0 O15 O16 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (27)

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Related works:
Working Paper: Financial Development, Financial Instability and Poverty (2011)
Working Paper: Financial Development, Financial Instability and Poverty (2006)
Working Paper: Développement financier, instabilité financière et réduction de la pauvreté (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:csa:wpaper:2005-09

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