Financial Sector Development and the Millennium Development Goals

By Stijn Claessens, E. Feijen. 2007

267 citations recorded by the source corpus.

This study investigates the relationship between financial sector development and progress in reaching the Millennium Development Goals (MDGs). It assesses the contribution of countries' financial sector development to achieving the MDGs. The focus is on the relationships between financial development and economic welfare and growth, and the following four MDG-themes: Poverty, Education, Health, and Gender Equality. In doing so, the book reviews the theoretical channels, surveys existing empirical evidence - both cross-country and case study evidence, and provides new evidence. Financial Sector Development and the Millennium Development Goals finds that financial development is an important driver for economic welfare in that it reduces the prevalence of income poverty and undernourishment. In addition, new evidence is provided of a positive association between financial development and health, education, and gender equality.

Subfields: Economics and Econometrics, Information Systems, Safety Research

View Paper: https://www.semanticscholar.org/paper/c9012fd57a8a2cdc07b767bea51655b447110c41

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Citations in the corpus

Do Economic, Financial and Institutional Developments Matter for Environmental Degradation? Evidence from Transitional Economies (2008, background): “In this framework, Claessens and Feijen (2007) shown that through improved governance, financial sector development can spur greater environmental improvements.”
Multivariate granger causality between CO2 emissions, energy intensity and economic growth in Portugal: evidence from cointegration and causality analysis (2015, background): “Additionally, Claessens and Feijen (2007) explored the role of governance in reducing CO2 emissions and reported that with the help of more advanced governance; enterprises can lower growth of CO2 emissions.”
The impact of financial development, income, energy and trade on carbon emissions: Evidence from the Indian economy (2014, background): “Claessens and Feijen (2007) analyzed the role of governance in reducing CO2 emissions and reported that with the help of more advanced governance firms can lower the growth of carbon emissions.”
The effects of financial development, economic growth, coal consumption and trade openness on CO2 emissions in South Africa (2013, background): “Likewise, Claessens and Feijen (2007) consider a developed financial sector is essential for carbon trading as environmental regulators may initiate programs that are directly connected with financial markets and frequently make available the information regarding the environmental performances of…”
Has Digital Financial Inclusion Narrowed the Urban-Rural Income Gap: The Role of Entrepreneurship in China (2021, background): “show that the inclusive development of the financial system can promote the balanced distribution of finance, reduce the inequality between different groups of people in accessing the financial system and enjoying financial services, improve the income level of low-income groups, and thus curb the e”