© 2004

Financial Development and Economic Growth

Explaining the Links

  • Charles A. E. Goodhart

Table of contents

  1. Front Matter
    Pages i-xxvi
  2. P. Demetriades, S. Andrianova
    Pages 38-65
  3. Erik Berglof, Patrick Bolton
    Pages 106-134
  4. Beatriz Armendáriz de Aghion, Jonathan Morduch
    Pages 135-148
  5. C. A. E. Goodhart
    Pages 183-206
  6. Back Matter
    Pages 207-221

About this book


The most successful economies have the best working financial markets. While causation obviously runs in both directions, current research has increasingly emphasized the role of finance in promoting growth. Here seven leading financial economists explore the links between financial development and growth. The book seeks to answer the question of the role of finance in promoting sustainable growth and in the reduction of poverty, for example via micro-financial institutions.


development economic growth financial markets growth money Sustainable Growth

Editors and affiliations

  • Charles A. E. Goodhart
    • 1
  1. 1.London School of Economics and Political ScienceUK

About the editors

BEATRIZ ARMENDÁRIZ Harvard University, USA and University College London, UK SVETLANA ANDRIANOVA University of Leicester, UK ERIK BERGLOF Director, Stockholm Institute of Transition Economics, Sweden PATRICK BOLTON Princeton University, USA STIJN CLAESSENS University of Amsterdam, The Netherlands E. PHILIP DAVIS Brunel University, London, UK PANICOS DEMETRIADES University of Leicester, UK PATRICK HONOHAN Development Research Group, The World Bank, USA LUC LAEVEN Economist, The World Bank, USA JONATHAN MORDUCH New York University, USA

Bibliographic information