Sylviane GUILLAUMONT JEANNENEY () (Centre d'Etudes et de Recherches sur le Développement International) Kangni KPODAR () (Fonds Monétaire International)
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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.
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Paper provided by CERDI in its series Working Papers with number
200607.
Length: 36 Date of creation: 2006 Date of revision: Handle: RePEc:cdi:wpaper:788
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