Financial Channels, Property Rights, and Poverty : A Sub-Saharan African Perspective

Singh, Raju Jan ; Huang, Yifei

World Bank, Washington, DC

关键词: CREDIT MARKETS;    DEPOSIT;    FINANCIAL SERVICES;    ECONOMIC GROWTH;    DEPOSITS;   

DOI  :  10.1596/1813-9450-7559
RP-ID  :  WPS7559

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Studies on the link between financialdevelopment and poverty have been inconclusive. Some claimthat deeper financial sectors should improve the allocationof capital by allowing entrepreneurs greater access tofinance, which should particularly favor the poor. Othersargue that improvements in the financial system primarilybenefit the rich and politically connected. The literaturehas also been ambiguous about the channels through whichfinance may be associated with lower poverty (depositsversus credit). Looking at a sample of 37 countries inSub-Saharan Africa from 1992 through 2006, the papersuggests that financial deepening is associated with lowerpoverty through different channels depending on the strengthof property rights. In the absence of well-defined andenforced property rights, wider access to saving andrisk-sharing instruments is accompanied by a reduction inpoverty. Only once property rights grow stronger is creditassociated with lower poverty.