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Financial development and poverty reduction in developing countries
Author(s) -
Jalilian Hossein,
Kirkpatrick Colin
Publication year - 2002
Publication title -
international journal of finance and economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.505
H-Index - 39
eISSN - 1099-1158
pISSN - 1076-9307
DOI - 10.1002/ijfe.179
Subject(s) - poverty reduction , economics , poverty , developing country , financial sector development , financial deepening , finance , development economics , macroeconomics , economic growth , financial intermediary
Empirical investigation of the link between financial development and economic growth has established that finance exerts a significant and positive influence on growth. This paper extends this line of analysis by examining the contribution that financial development makes to poverty reduction in low‐income countries. The results reported support the contention that financial sector development policy can contribute to achieving the goal of poverty reduction in developing countries. Copyright © 2002 John Wiley & Sons, Ltd.