Financial Development Policy and Growth

Book Description
In this book, evidence obtained through econometric techniques and from country case studies proves that the relationship between financial development and overall economic growth is reciprocal. By aligning these two factors, the authors identify four "convergence clubs," groups of economies heading for different growth regimes. Identifying into which category a country falls can help policy makers to devise the most beneficial policies to avoid the poverty trap and recover a growth trajectory. The study concludes that these policies must include creating an appropriate macro-economic environment for the development of the financial sector and the building of stable institutions.


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