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Financial Development and Poverty Alleviation; Issues and Policy Implications for Developing and Transition Countries

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  • Vassili Prokopenko
  • Paul Holden

Abstract

This paper reviews current thinking on the relationship between financial development and poverty alleviation-a subject that has grown increasingly important in the policy prescriptions of the IMF and other international financial institutions in recent years. Although work on this issue is far from over, some important lessons can be learned from the existing evidence. The paper reflects on these lessons and looks at some of the policy implications of the analysis.

Suggested Citation

  • Vassili Prokopenko & Paul Holden, 2001. "Financial Development and Poverty Alleviation; Issues and Policy Implications for Developing and Transition Countries," IMF Working Papers 01/160, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:01/160
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    References listed on IDEAS

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    Cited by:

    1. International Monetary Fund, 2005. "Central African Economic and Monetary Community (CEMAC); Selected Issues," IMF Staff Country Reports 05/390, International Monetary Fund.
    2. Takeshi Inoue & Shigeyuki Hamori, 2012. "How has financial deepening affected poverty reduction in India? Empirical analysis using state-level panel data," Applied Financial Economics, Taylor & Francis Journals, vol. 22(5), pages 395-408, March.
    3. Alejandra Anastasi & Emilio Blanco & Pedro Elosegui & Máximo Sangiácomo, 2010. "Bankarization and Determinants of Availability of Banking Services in Argentina," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, vol. 1(60), pages 137-209, October -.
    4. Kunal Sen, "undated". "Towards Inclusive Financial Development for Achieving the MDGs in Asia and the Pacific," MPDD Working Paper Series WP/10/07, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    5. Daniel Hardy & Paul Holden & Vassili Prokopenko, 2003. "Microfinance institutions and public policy," Journal of Economic Policy Reform, Taylor & Francis Journals, pages 147-158.
    6. Philip Arestis & Asena Caner, 2010. "Capital account liberalisation and poverty: how close is the link?," Cambridge Journal of Economics, Oxford University Press, vol. 34(2), pages 295-323, March.
    7. repec:eee:jmacro:v:53:y:2017:i:c:p:191-206 is not listed on IDEAS
    8. Alberto Lanzavecchia, 2012. "Is microcredit targeted to poor people? Evidences from a Cambodian microfinance institution," "Marco Fanno" Working Papers 0149, Dipartimento di Scienze Economiche "Marco Fanno".
    9. Ross Esson, 2003. "Savings and Savers: An Analysis of Saving Behaviour among Cape Town's Poor," SALDRU/CSSR Working Papers 059, Southern Africa Labour and Development Research Unit, University of Cape Town.
    10. Youssouf Kiendrebeogo, 2010. "Développement financier et pauvreté dans l'UEMOA," Documents de travail 155, Groupe d'Economie du Développement de l'Université Montesquieu Bordeaux IV.
    11. Philip Arestis & Asena Caner, 2004. "Financial Liberalization and Poverty: Channels of Influence," Economics Working Paper Archive wp_411, Levy Economics Institute.
    12. International Monetary Fund, 2003. "Islamic State of Afghanistan; Rebuilding a Macroeconomic Framework for Reconstruction and Growth," IMF Staff Country Reports 03/299, International Monetary Fund.
    13. Biaggio Bossone & Abdourahmane Sarr, 2002. "A New Financial System for Poverty Reduction and Growth," IMF Working Papers 02/178, International Monetary Fund.
    14. Odhiambo, Nicholas M., 2009. "Finance-growth-poverty nexus in South Africa: A dynamic causality linkage," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(2), pages 320-325, March.
    15. World Bank, 2003. "Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report," World Bank Other Operational Studies 14388, The World Bank.
    16. Claude Berthomieu & Anastasia Ri, 2009. "Process and Effects of Financial Liberalization in Transition Countries: A Selective Literature Survey," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(4), pages 453-473, December.
    17. Abdelhafidh Dhrifi, 2013. "Financial Development and Poverty: What Role for Growth and Inequality?," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(4), pages 119-129, October.
    18. Anjali Kumar & Thorsten Beck & Cristine Campos & Soumya Chattopadhyay, 2005. "Assessing Financial Access in Brazil," World Bank Publications, The World Bank, number 7452.
    19. Abdelhafidh Dhrifi, 2015. "Financial Development and the "Growth-Inequality-Poverty" Triangle," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 6(4), pages 1163-1176, December.

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