Financial Sector Development and the Millennium Development Goals

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.

Bibliographic Details

Main Authors:	Claessens, Stijn, Feijen, Erik
Language:	English en_US
Published:	Washington, DC: World Bank 2006
Subjects:	ACCESS TO HEALTH CARE, AGRICULTURAL PRODUCTIVITY, AGRICULTURAL SECTOR, AGRICULTURE, ANNUAL GROWTH, AVERAGE GROWTH, AVERAGE INCOME, BASIC NEEDS, CHILD MORTALITY, CIVIL WAR, COMMERCIAL BANKS, COMPETITIVE FORCES, CONSUMERS, CROPS, DEBT, DEREGULATION, DEVELOPED COUNTRIES, DEVELOPING COUNTRIES, DEVELOPING WORLD, DEVELOPMENT ASSISTANCE, DEVELOPMENT INDICATORS, DEVELOPMENT REPORT, DISEASES, DISSEMINATION, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC INSTABILITY, ECONOMIC OPPORTUNITY, ECONOMIC OUTCOMES, ECONOMIC PROSPERITY, ECONOMIC STATUS, ECONOMIC WELFARE, ECONOMIES OF SCALE, EDUCATION, ELASTICITIES, ELASTICITY, EMPIRICAL EVIDENCE, EMPIRICAL RESEARCH, EMPOWERMENT, EMPOWERMENT OF WOMEN, ENERGY CONSUMPTION, ENVIRONMENTAL, ENVIRONMENTAL PERFORMANCE, ENVIRONMENTAL PROTECTION, EQUAL OPPORTUNITIES, ESSENTIAL DRUGS, EXTREME POVERTY, FAMILY RESOURCES, FEMALE LABOR FORCE, FINANCIAL DEVELOPMENT, FINANCIAL INSTITUTIONS, FINANCIAL MARKETS, FINANCIAL SECTOR, FINANCIAL SECTORS, FINANCIAL SERVICES, FINANCIAL SYSTEMS, FIXED EFFECTS, FUTURE RESEARCH, GDP, GDP PER CAPITA, GENDER EQUALITY, GENDER INEQUALITY, GNP, GOVERNMENT REGULATIONS, GROSS DOMESTIC PRODUCT, GROSS NATIONAL PRODUCT, GROWTH RATE, GROWTH RATES, HEALTH, HEALTH CARE, HEALTH EDUCATION, HIV, HOUSEHOLD INCOME, HOUSEHOLD SURVEYS, HOUSEHOLD WELFARE, INCOME GROUPS, INCOME GROWTH, INCOME GROWTH RATE, INCOME POVERTY, INSURANCE, INTERNATIONAL POLICY, INTERNATIONAL TRADE, LACK OF DEVELOPMENT, LANDLOCKED COUNTRIES, LEGAL STATUS, LEVELS OF EDUCATION, LIFE EXPECTANCY, LIVE BIRTHS, LIVING CONDITIONS, LOW-INCOME COUNTRIES, MACROECONOMIC INSTABILITY, MALARIA, MARKET LIBERALIZATION, MATERNAL DEATHS, MATERNAL HEALTH, MATERNAL MORTALITY, MATERNAL MORTALITY RATE, MATERNAL MORTALITY RATIO, MEAN VALUE, MILLENNIUM DECLARATION, MILLENNIUM DEVELOPMENT GOALS, MORTALITY, MORTALITY RATE, NATIONAL GOVERNMENTS, NATIONAL LEVELS, NOURISHMENT, NUTRITION, PARLIAMENTARY SEATS, PER CAPITA GROWTH, POLICY FRAMEWORK, POLICY INTERVENTIONS, POLICY MAKERS, POLITICAL ECONOMY, POLLUTION, POOR HOUSEHOLDS, POOR PEOPLE, POORER PEOPLE, POVERTY LINE, POVERTY RATE, POVERTY RATES, POVERTY REDUCTION, PRIMARY SCHOOL, PRIMARY SCHOOLING, PRODUCTIVITY, PROGRESS, PUBLIC POLICY, PUBLIC SECTOR, PURCHASING POWER, PURCHASING POWER PARITY, REDUCING INEQUALITY, REDUCING POVERTY, REGRESSION ANALYSES, SAFE DRINKING WATER, SANITATION, SAVINGS, SECONDARY SCHOOLING, SECTOR ACTIVITY, SERVICE PROVISION, STATISTICAL ANALYSES, SUSTAINABLE DEVELOPMENT, TERTIARY EDUCATION, TRANSACTION COSTS, UNIVERSAL ACCESS, UNIVERSAL PRIMARY EDUCATION, VULNERABILITY, WEALTH, YOUNG PEOPLE,
Online Access:	http://documents.worldbank.org/curated/en/2006/12/7406454/financial-sector-development-millennium-development-goals https://hdl.handle.net/10986/7145
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