This paper tries to take into account two points of view of the litterature, the first one shows that financial development has positive effect on economic growth, and the second one stresses on the unfavourable effect of financial crisis. Our main assumption is that financial instability is...

This article investigates how financial development is beneficial to the reduction of poverty, on the one hand by promoting growth and on the other hand directly due to the Mac Kinnon “conduit effect”. But simultaneously financial development induces financial instability what is detrimental...

This article investigates how financial development is beneficial to the reduction of poverty, on the one hand by promoting growth and in the other hand directly by the McKinnon conduit effect. At the same time, however, financial instability which accompanies financial development is...

This article investigates how financial development helps to reduce poverty directly through the McKinnon conduit effect and indirectly through economic growth. The results obtained with data for a sample of developing countries from 1966 through 2000 suggest that the poor benefit from the...

This article investigates how financial development helps to reduce poverty directly through the McKinnon conduit effect and indirectly through economic growth. The results obtained with data for a sample of developing countries from 1966 through 2000 suggest that the poor benefit from the...

This article investigates how financial development helps to reduce poverty directly through a distributional effect, beyond its indirect effect through economic growth. The results obtained with data for a sample of developing countries from 1966 through 2000 suggest that the poor benefit from...