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Finance is Good for the Poor but it Depends Where You Live

Johan Rewilak

No 11/30, Discussion Papers in Economics from Division of Economics, School of Business, University of Leicester

Abstract: This article examines whether or not the incomes of the poor systematically grow with average incomes, and whether financial development enhances the incomes of the poorest quintile. Following the methodology of Dollar & Kraay (2002), I find once extending Dollar & Kraay's data their findings are robust and economic growth is important to poverty reduction universally. However in comparison to other authors’ work I find financial development aids the incomes of the poor in certain regions, whilst it may be detrimental in others adding a further contribution to the literature on financial development and poverty.

Keywords: Financial Development; Economic Growth; Poverty (search for similar items in EconPapers)
JEL-codes: G00 O16 O57 (search for similar items in EconPapers)
Date: 2011-05, Revised 2011-09
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Journal Article: Finance is good for the poor but it depends where you live (2013) Downloads
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