Financial Sector Development and the Millennium Development Goals

Claessens, Stijn; Feijen, Erik

doi:10.1596/978-0-8213-6865-7

Cited by 190 publications

(121 citation statements)

References 99 publications

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“…Absence of equal opportunities in access to finance may prompt corruption (Berger & Udell,1998), slower firm growth (Ayyagari et al,2006;Beck et al,2005), reduction in entrepreneurial activities and 6 lack of convergence in growth rates between rich and poor countries (Banerjee & Duflo, 2005), diminish individual welfare gains such as reduction in the prevalence of hunger, poor health, low education and gender income-inequality (Claessens & Feijen, 2007).…”

Section: Inequality and Financementioning

confidence: 99%

Finance and Inequality: Exploring Pro-Poor Investment Channels in Africa

Simplice

2011

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may AbstractHitherto very few studies on the inequality-finance(investment) nexus have focused on the African continent owing to lack of relevant data. This paper integrates previously missing investment and financial components in the assessment of how finance affects pro-poor investment channels. Findings reveal, but for the case of foreign investment, financial development dynamics of depth, efficiency, activity and size have an equalizing effect on income distribution through private, public and domestic investment channels. As a policy implication investment-targeted financial reforms that aim to curb poverty should take account of the disequalizing income-effect of foreign investment in undeveloped countries.JEL Classification: D60; E25; G20; I30; O55

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Section: Inequality and Financementioning

confidence: 99%

Finance and Inequality: Exploring Pro-Poor Investment Channels in Africa

Simplice

2011

SSRN Journal

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“…Moreover, active bond markets can discipline the government-thereby reducing the risks of financial crises-and prevent crowding out of private investments. These avenues provide an additional link to growth (Claessens and Feijen 2006).…”

Section: Recent Literature Suggests the Emergence Of A Consensus On Tmentioning

confidence: 99%

“…The results also suggest that financial deepening propels economic growth through both a more rapid capital accumulation and productivity growth, with productivity growth being the strongest. 0 See also an excellent review by Claessens and Feijen (2006). do not directly measure the degree to which financial systems ameliorate information and transaction costs (Levine 2004).…”

Section: Financial Sector Development and Economic Growthmentioning

confidence: 99%

“…Claessens and Feijen (2006), on the other hand, examine whether financial sector development plays any role in achieving Millennium Development Goal (MDG) targets. By reviewing existing literature and conducting their own analyses, they provide robust evidence that financial development and greater access to financial services indeed lead to income growth, a reduction in poverty and undernourishment, and better health, education, and gender equality.…”

Section: Financial Sector Development and Poverty Reduction-direct Immentioning

confidence: 99%

“…Finance can facilitate transactions; facilitate and reduce the costs of remitting funds; and provide the opportunity to accumulate assets and for income smoothing. Financial services such as insurance and savings can also help firms and households cope with economic shocks and reduce their vulnerability to adverse situations, thus mitigating the risk of falling into poverty (Claessens and Feijen 2006). Using a panel dataset for 172 countries for 1950to 1960, 1970, 1980, 1990and 1995, Dehejia and Gatti (2002 find that an increase in access to credit reduces the extent of child labor.…”

Section: Financial Sector Development and Poverty Reduction-direct Immentioning

confidence: 99%

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Financial Sector Development, Economic Growth, and Poverty Reduction: A Literature Review

Zhuang¹,

Gunatilake

Niimi

et al. 2009

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The views expressed in this paper are those of the author(s) and do not necessarily reflect the views or policies of the Asian Development Bank. Terms of use: Documents inThe ADB Economics Working Paper Series is a forum for stimulating discussion and eliciting feedback on ongoing and recently completed research and policy studies undertaken by the Asian Development Bank (ADB) staff, consultants, or resource persons. The series deals with key economic and development problems, particularly those facing the Asia and Pacific region; as well as conceptual, analytical, or methodological issues relating to project/program economic analysis, and statistical data and measurement. The series aims to enhance the knowledge on Asia's development and policy challenges; strengthen analytical rigor and quality of ADB's country partnership strategies, and its subregional and country operations; and improve the quality and availability of statistical data and development indicators for monitoring development effectiveness.

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New Issues in Islamic Finance and Economics: Progress and Challenges

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Financial Sector Development and the Millennium Development Goals

Cited by 190 publications

References 99 publications

Finance and Inequality: Exploring Pro-Poor Investment Channels in Africa

Finance and Inequality: Exploring Pro-Poor Investment Channels in Africa

Financial Sector Development, Economic Growth, and Poverty Reduction: A Literature Review

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