Financial development, growth, and poverty: how close are the links?, Vol. 1 of 1

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Financial development, growth, and poverty: how close are the links?

Author:	Patrick Honohan;	Collection Title:	Policy, Research working paper series ; no. WPS 3203
Country:	United Kingdom; Korea, Republic of; Russian Federation; China;	Date Stored:	2004/03/30
Document Date:	2004/02/01	Document Type:	Policy Research Working Paper
Language:	English	Region:	East Asia and Pacific; Europe and Central Asia
Report Number:	WPS3203	SubTopics:	Environmental Economics & Policies; Achieving Shared Growth; Governance Indicators; Payment Systems & Infrastructure; Economic Theory & Research; Banks & Banking Reform; Fiscal & Monetary Policy
Volume No:	1 of 1

Summary: The causal link between finance and growth is one of the most striking empirical macroeconomic relationships uncovered in the past decade. As this branch of the literature matures, the focus shifts from growth to other aspects of economic prosperity, and from financial depth to multidimensional measures of financial development. The author reviews the evolution of the literature and contributes by: Showing that financial depth is negatively associated with headcount poverty, even after taking account of mean income and inequality. Illustrating the pitfalls in equating financial development with financial depth. Proposing alternative measures of financial development that, though summary, capture its multidimensional nature.


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File Type		Description	File Size (mb)

	PDF 31 pages	Official version*	2.17 (approx.)
	Text	Text version**


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File Type		Description	File Size (mb)

	PDF 31 pages	WPS3203	0.27

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