Financial Development and Economic Growth Explaining the Links [Hardcover]

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.Financial Development, Growth and Poverty: How Close are the Links?; P.Honohan Finance and Growth: What We Know and What We Need to Know; P.Demetriades & S.Andrianova Competition in the Financial Sector and Growth: A Cross-Country Perspective; S.Claessens & L.Laeven The Great Divide and Beyond: Financial Architecture in Transition; E.Berglof & P.Bolton Microfinance: Where Do We Stand?; B.Armend?riz & J.Morduch Financial Development, Institutional Investors and Economic Performance; E.P.Davis Money, Stability and Growth; C.A.E.GoodhartBEATRIZ ARMEND?RIZ Harvard University, USA and University College London, UKSVETLANA ANDRIANOVA University of Leicester, UKERIK BERGLOF Director, Stockholm Institute of Transition Economics, SwedenPATRICK BOLTON Princeton University, USASTIJN CLAESSENS University of Amsterdam, The NetherlandsE. PHILIP DAVIS Brunel University, London, UKPANICOS DEMETRIADES University of Leicester, UKPATRICK HONOHAN Development Research Group, The World Bank, USALUC LAEVEN Economist, The World Bank, USAJONATHAN MORDUCH New York University, USA