Browsing Social Sciences by Subject "Financial development"
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Does Financial Development contribute to Poverty Reduction.The article examines the contribution of financial development to poverty reduction in developing countries. Building on earlier research which has established links between financial development and economic growth, and between economic growth and poverty reduction, the article tests for a causal process linking financial sector growth and poverty reduction. The empirical results indicate that, up to a threshold level of economic development, financial sector growth contributes to poverty reduction through the growth-enhancing effect. The impact of financial development on poverty reduction will be affected, however, by any change in income inequality resulting from financial development.
Financial development, economic growth and human capital accumulation: what is the link?A number of studies have explored the factors influencing financial development. Among them are national legal origin, settler mortality hypothesis, institutional factors, political factors, macroeconomic policies including capital account openness, social capital and also cultural factors. The relationship between financial development, human capital and economic growth, although acknowledged in the theoretical literature remains less explored at the empirical level. In this study we examine interaction between financial development, human capital and economic growth. The study aims to understand and examine how financial development is related to human capital accumulation and economic growth in a unified framework. In a cross-country panel data context using rigourous econometric techniques we examine these questions.
Financial sector development and smart cities: The Indian caseThe paper examines the level of financial development of initial twenty shortlisted smart cities in India. • Results of the study revealed high inter-state and intra-state inequality as the cities with high FSI values and those with low FSI values are both located in the developed western and southern states. • A similar mixed picture emerges even for the less developed low income states such as Madhya Pradesh. • The study also highlighted large inter-state variations across the smart cities in financial development. • For a holistic approach to smart city development, a vibrant and developed financial sector is required.