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Handbook of Finance and Development

Edited by Thorsten Beck, Professor of Banking and Finance, Cass Business School, UK and Ross Levine, Willis H. Booth Chair in Banking and Finance, Haas School of Business, University of California at Berkeley, US
This book provides a comprehensive overview of the relationship between financial and real sector development. The different chapters, written by leading contributors in the field, survey research on the importance of financial development for economic growth, the causes and consequences of financial fragility, the historic development of financial systems in several major economies and regions of the world, and the regulatory and supervisory underpinnings of financial sector development.
Extent: c 592 pp
Hardback Price: $315.00 Web: $283.50
Publication Date: July 2018
ISBN: 978 1 78536 050 3
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  • eISBN: 978 1 78536 051 0

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  • Development Studies
  • Development Economics
  • Development Studies
  • Economics and Finance
  • Development Economics
  • Financial Economics and Regulation
  • Money and Banking
The Handbook of Finance and Development provides a thorough assessment of the existing research on the relationship between the financial system and economic growth. Containing chapters on theory, empirical work and historic accounts, this is the first Handbook to provide a comprehensive overview of the fields of finance and development.

The contributors, who are all leading researchers in the field, analyse the emergence of, and innovations in, financial instruments, markets, and intermediaries, providing commentary on how these components of financial systems shape resource allocation, poverty, income inequality, and aggregate economic growth. They also explore the causes and consequences of financial fragility, the historic development of financial systems, and the regulatory and supervisory underpinnings of financial sector development. Further chapters examine financial development at both the aggregate and country level, and assess the degree to which individuals and firms can access financial services. Recent literature on the financial inclusion of households and enterprises is also analysed.

The Handbook will be of great value to scholars and researchers who are interested in the fields of finance, development and financial inclusion. Throughout, the contributors highlight how insights drawn from research inform policy debates on the topics at hand meaning this work will also be a useful resource for policy makers and regulators.
Contributors include: F. Abraham, P. Aghion, F. Allen, M. Ayyagari, J. Barth, T. Beck, A. Berger, H. Bodenhorn, C. Burhop, J. Caprio, R. Cull, A. Demirguc-Kunt, S. Frame, X. Gu, T. Guinnane, P. Honohan, P. Howitt, L. Klapper, O. Kowalewski, T. Lambert, R. Levine, N. Loayza, V. Maksimovic, R. Morck, J. Morduch, A. Ouazad, A. Popov, R. Ranciere, R. Roman, S. Schmukler, D. Singer, M. Soledad Martinez Peria, W. Summerhill, R. Tilly, J. Verrier, P. Volpin, H.-J. Voth, B. Yeung








Contents:

PART I THEORY AND EVIDENCE ON FINANCE AND GROWTH
1. Financial Development and Innovation-Led Growth
Phillippe Aghion, Peter Howitt and Ross Levine

2. Financial Structure, Economic Growth and Development
Franklin Allen, Xian Gu and Oskar Kowalewski

3. Evidence on Finance and Economic Growth
Alexander Popov

PART II HISTORIC ACCOUNTS
4. Two centuries of finance and growth in the United States, 1790-1980
Howard Bodenhorn

5. The financial system in Germany, 1800-1914
Carsten Burhop, Timothy Guinnane and Richard Tilly

6. Finance and Growth in the United Kingdom
Hans-Joachim Voth

7. East Asian Financial and Economic Development
Randall Morck and Bernard Yeung

8. Sovereign Commitment and Financial Underdevelopment in Nineteenth-Century Brazil
William Summerhill

PART III FINANCE, GROWTH AND STABILITY
9. Finance and the Real Economy: Evidence from the U.S
Allen Berger and Raluca Roman

10. Financial Development, Growth, and Crisis: Is there a trade-off?
Norman Loayza, Amine Ouazad and Romain Ranciere

11. The Management and Prevention of Banking Crises: Lessons from Recent Experience
Patrick Honohan

12. Financial Globalization: A Glass Half Empty
Facundo Abraham and Sergio Schmukler

13. Technological Change, Financial Innovation, and Economic Development
Thorsten Beck and Scott Frame

PART IV POLICIES AND INSTITUTIONS
14. Regulation and Supervision and Economic Development
James Barth and Jerry Caprio

15. Bank ownership and economic development
Robert Cull, Maria Soledad Martinez Peria and Jeanne Verrier

16. What drives financial sector development? Policies, politics and history
Thorsten Beck

17. Endogenous Political Institutions and Financial Development
Thomas Lambert and Paolo Volpin

PART V ACCESS TO FINANCE
18. Financing SMEs and Economic Development
Meghana Ayyagari, Asli Demirguc-Kunt and Vojislav Maksimovic

19. Household Finance and Economic Development
Asli Demirguc-Kunt, Leora Klapper and Dorothe Singer

20. Microfinance and Economic Development
Robert Cull and Jonathan Morduch

Index