Handbook of Finance and Development


Handbook of Finance and Development

9781785360503 Edward Elgar Publishing
Edited by Thorsten Beck, Florence School of Banking and Finance, European University Institute, Italy and Ross Levine, Stanford University, US
Publication Date: 2018 ISBN: 978 1 78536 050 3 Extent: 616 pp
This Handbook 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.

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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.

As leading researchers in the field the contributors 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 levels 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 chapters contributors highlight how insights drawn from research inform policy debates on the topics at hand, making this work a useful resource for policy makers and regulators.
Contributors: F. Abraham, P. Aghion, F. Allen, M. Ayyagari, J.R. Barth, T. Beck, A.N. Berger, H. Bodenhorn, C. Burhop, G. Caprio Jr, R. Cull, A. Demirgüç-Kunt, W.S. Frame, X. Gu, T.W. Guinnane, P. Honohan, P. Howitt, L. Klapper, O. Kowalewski, T. Lambert, R. Levine, N. Loayza, V. Maksimovic, M.S. Martinez Peria, R. Morck, J. Morduch, A. Ouazad, A. Popov, R. Rancière, R.A. Roman, S.L. Schmukler, D. Singer, W. Summerhill, R. Tilly, J. Verrier, P. Volpin, H.-J. Voth, B. Yeung

Thorsten Beck and Ross Levine

1. Financial Development and Innovation-Led Growth
Philippe 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

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 W. 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

9. Finance and the Real Economy: Evidence from the US
Allen N. Berger and Raluca A. Roman

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

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 L. Schmukler

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

14. Regulation and Supervision in financial development
James R. Barth and Gerard Caprio Jr.

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

18. Financing SMEs and Economic Development
Meghana Ayyagari, Asli Demirgüç-Kunt and Vojislav Maksimovic

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

20. Microfinance and Economic Development
Robert Cull and Jonathan Morduch

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