Financial Development and Economic Growth: Explaining the Links (British Association for the Advancement of Science)

The most successful economies have the best working financial markets. While causation obviously runs in both directions, current research has increasingly emphasized the role of finance in promoting growth. Here seven leading financial economists explore the links between financial development and growth. The book seeks to answer the question of the role of finance in promoting sustainable growth and in the reduction of poverty, for example via micro-financial institutions. Front Matter....Pages i-xxvi Financial Development, Growth and Poverty: How Close are the Links?....Pages 1-37 Finance and Growth: What we Know and What we Need to Know....Pages 38-65 Competition in the Financial Sector and Growth: A Cross-Country Perspective....Pages 66-105 The Great Divide and Beyond: Financial Architecture in Transition....Pages 106-134 Microfinance: Where do we Stand?....Pages 135-148 Financial Development, Institutional Investors and Economic Performance....Pages 149-182 Money, Stability and Growth....Pages 183-206 Back Matter....Pages 207-221