Financial Development and Economic Growth: Explaining the Links (British Association for the Advancement of Science)

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9781403920669: Financial Development and Economic Growth: Explaining the Links (British Association for the Advancement of Science)
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The most successful economies have the best working financial markets. While causation obviously runs in both directions, current research has increasingly emphasized the role of finance in promoting growth. Here seven leading financial economists explore this relationship. The book seeks to answer the question of the role of finance in promoting sustainable growth and in the reduction of poverty, for example via micro-financial institutions.

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Synopsis:

The most successful economies have the best working financial markets. While causation obviously runs in both directions, current research has increasingly emphasized the role of finance in promoting growth. Here seven leading financial economists explore the links between financial development and growth. The book seeks to answer the question of the role of finance in promoting sustainable growth and in the reduction of poverty, for example via micro financial institutions. BEATRIZ ARMENDRIZ Harvard University, USA and University College London, UK SVETLANA ANDRIANOVA University of Leicester, UK ERIK BERGLOF Director, Stockholm Institute of Transition Economics, Sweden PATRICK BOLTON Princeton University, USA STIJN CLAESSENS University of Amsterdam, The Netherlands E. PHILIP DAVIS Brunel University, London, UK PANICOS DEMETRIADES University of Leicester, UK PATRICK HONOHAN Development Research Group, The World Bank, USA LUC LAEVEN Economist, The World Bank, USA JONATHAN MORDUCH New York University, USA

About the Author:

CHARLES A. E. GOODHART is Deputy Director of the Financial Markets Group at the London School of Economics, UK. Until his retirement in 2002, he had been the Norman Sosnow Professor of Banking and Finance at London School of Economics and Political Science since 1985. He has written numerous articles and books on financial markets and monetary policy.

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