Développement financier, instabilité financière et réduction de la pauvreté
This article investigates how financial development is beneficial to the reduction of poverty, on the one hand by promoting growth and on the other hand directly due to the Mac Kinnon “conduit effect”. But simultaneously financial development induces financial instability what is detrimental to the poor and dampened the positive effect of financial development on the reduction of poverty. These hypotheses are tested with success on a sample of developing countries over the period 1966-2000 and lead to straightforward policy implications.
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- de Melo, Jaime & Tybout, James, 1986.
"The Effects of Financial Liberalization on Savings and Investment in Uruguay,"
Economic Development and Cultural Change,
University of Chicago Press, vol. 34(3), pages 561-87, April.
- Jaime de Melo & James Tybout, 2015. "The Effects of Financial Liberalization on Savings and Investment in Uruguay," World Scientific Book Chapters, in: Developing Countries in the World Economy, chapter 3, pages 55-81 World Scientific Publishing Co. Pte. Ltd..
- Luc Christiaensen & Lionel Demery & Stefano Paternostro, 2003. "Macro and Micro Perspectives of Growth and Poverty in Africa," World Bank Economic Review, World Bank Group, vol. 17(3), pages 317-347, December.
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