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Finance and Development

Surveys of Theory, Evidence and Policy Edited by Christopher J. Green, Professor of Economics and Finance, Loughborough University, UK, Colin Kirkpatrick, former Hallsworth Professor of Development Economics, Institute for Development Policy and Management (IDPM) and Co-Director, Regulation Research Programme, Centre on Regulation and Competition (CRC), University of Manchester, UK and Victor Murinde, AXA Professor in Global Finance, School of Finance & Management, SOAS University of London, UK
In this valuable new book, a distinguished group of authors takes stock of the existing state of knowledge in the field of finance and the development process. Each chapter offers a comprehensive survey and synthesis of current issues. These include such critical subjects as savings, financial markets and the macroeconomy, stock market development, financial regulation, foreign investment and aid, financing livelihoods, microfinance, rural financial markets, small and medium enterprises, corporate finance and banking.
Extent: 464 pp
Hardback Price: $223.00 Web: $200.70
Publication Date: 2005
ISBN: 978 1 84376 030 6
Availability: In Stock
Paperback Price: $74.00 Web: $59.20
Publication Date: 2006
ISBN: 978 1 84542 856 3
Availability: In Stock
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  • Development Studies
  • Development Economics
  • Development Studies
  • Economics and Finance
  • Development Economics
  • Financial Economics and Regulation
In the last two decades, the role of finance in the development process has become a major topic of research and debate. Although it is widely agreed that there is an important link between the two, there is much less consensus on the exact nature of the relationship. Is financial development a prerequisite for general economic development, or is it a more passive by-product of the development process?

In this valuable new book, a distinguished group of authors takes stock of the existing state of knowledge in the field of finance and the development process. Each chapter offers a comprehensive survey and synthesis of current issues. These include such critical subjects as savings, financial markets and the macroeconomy, stock market development, financial regulation, foreign investment and aid, financing livelihoods, microfinance, rural financial markets, small and medium enterprises, corporate finance and banking.

This book will be accessible to postgraduate and advanced undergraduate students of finance and development. It will also be an essential reference source for all professionals and academics working in this area who want to learn how finance can contribute to the development process and poverty reduction.
‘In this new book a group of 18 distinguished authors presents comprehensive surveys of current issues in the field of finance and development. . . This book nicely bridges the gap between general research on the role of finance for economic growth and the role finance plays for developing economies and poverty reduction. . . Moreover, the authors identify a great number of promising ideas for future research. . .’
– Ryszard Kokoszczynski, SUERF Newsletter – The European Money & Finance Forum
Contributors: T. Arun, M. Brownbridge, P. Cook, E.V.K. FitzGerald, C.J. Green, D. Hulme, S. Johnson, C.H. Kirkpatrick, D.T. Llewellyn, S.M Maimbo, I. Matin, G. Mavrotas, V. Murinde, R.W. Ngugi, F. Nixson, S. Prasad, S. Rutherford, O. Ruthven
Contents:

Preface

1. How Does Finance Contribute to the Development Process and Poverty Reduction?
Christopher J. Green, Colin H. Kirkpatrick and Victor Murinde

PART I: FINANCIAL MARKETS AND THE MACROECONOMY

2. Savings and Financial Sector Development: Assessing the Evidence
George Mavrotas

3. Flow of Funds: The Relationship between Finance and the Macroeconomy
Christopher J. Green and Victor Murinde

4. Stock Market Development: What Have We Learned?
Rose W. Ngugi, Victor Murinde and Christopher J. Green

5. Financial Regulation in Developing Countries: Policy and Recent Experience
Martin Brownbridge, Colin H. Kirkpatrick and Samuel Munzele Maimbo

6. Banking Regulation after Recent Financial Crises: Lessons for Developing and Developed Countries
David T. Llewellyn

7. Policy Issues in Market-Based and Non-Market-Based Measures to Control the Volatility of Portfolio Investment
Edmond Valpy Knox FitzGerald

PART II: HOUSEHOLDS, FIRMS, AND FINANCIAL INSTITUTIONS
8. Finance and Poor People’s Livelihoods
Susan Johnson, David Hulme and Orlanda Ruthven

9. Finance for the Poor: The Way Forward?
Thankom Arun, David Hulme, Imran Matin and Stuart Rutherford

10. Rural Financial Markets
Susan Johnson

11. Small and Medium Sized Enterprises in Developing Economies
Frederick Nixson and Paul Cook

12. Company Financial Structure: A Survey and Implications for Developing Economies
Sanjiva Prasad, Christopher J. Green and Victor Murinde

Index