The role of financial development in poverty reduction

Abstract

This paper investigates whether financial development is conducive in poverty reduction. Separating financial development into four categories and using newly available data this paper finds that both financial deepening and greater physical access is beneficial in reducing the proportion of people below the poverty line. Using alternative measures of financial instability, the results also challenge existing findings that it may increase the incidence of poverty. In addition, the results remain robust even when controlling for mobile money, providing a further valuable contribution to the literature.

Publication DOI: https://doi.org/10.1016/j.rdf.2017.10.001
Divisions: College of Business and Social Sciences > Aston Business School
College of Business and Social Sciences > Aston Business School > Economics, Finance & Entrepreneurship
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Additional Information: © 2017 Africagrowth Institute. Production and hosting by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
Uncontrolled Keywords: Financial development; Poverty reduction; Mobile money
Publication ISSN: 1879-9337
Full Text Link:
Related URLs: https://www.sci ... 0891?via%3Dihub (Publisher URL)
PURE Output Type: Article
Published Date: 2017-12-01
Published Online Date: 2017-11-17
Accepted Date: 2017-10-28
Authors: Rewilak, Johan (ORCID Profile 0000-0001-5337-8873)

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