01797cas a2200253 a 4500 AALejournalIMF009869 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451869248 1018-5941 BD-DhAAL BD-DhAAL Guillaumont Jeanneney, Sylviane. Financial Development and Poverty Reduction : Can There Be a Benefit Without a Cost? / Sylviane Guillaumont Jeanneney, Kangni Kpodar. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (36 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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 ability of the banking system to facilitate transactions and provide savings opportunities but to some extent fail to reap the benefit from greater availability of credit. Moreover, financial development is accompanied by financial instability, which is detrimental to the poor. Nevertheless, the benefits of financial development for the poor outweigh the cost. Mode of access: Internet Kpodar, Kangni. IMF Working Papers; Working Paper ; No. 2008/062 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/062/001.2008.issue-062-en.xml IMF e-Library