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Financial Channels, Property Rights, and Poverty : A Sub-Saharan African Perspective / Raju Jan Singh
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Singh, Raju Jan.
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Access to Finance.
- Banks and Banking Reform.
- Credit.
- Debt Markets.
- Economic Theory & Research.
- Finance and Financial Sector Development.
- Financial Development.
- Macroeconomics and Economic Growth.
- Poverty.
- Poverty Reduction.
- Pro-Poor Growth.
- Property Rights.
- Local Subjects:
- Access to Finance.
- Banks and Banking Reform.
- Credit.
- Debt Markets.
- Economic Theory & Research.
- Finance and Financial Sector Development.
- Financial Development.
- Macroeconomics and Economic Growth.
- Poverty.
- Poverty Reduction.
- Pro-Poor Growth.
- Property Rights.
- Physical Description:
- 1 online resource (28 pages)
- Other Title:
- Financial Channels, Property Rights, and Poverty
- Place of Publication:
- Washington, D.C. : The World Bank, 2016.
- System Details:
- data file
- Summary:
- Studies on the link between financial development and poverty have been inconclusive. Some claim that deeper financial sectors should improve the allocation of capital by allowing entrepreneurs greater access to finance, which should particularly favor the poor. Others argue that improvements in the financial system primarily benefit the rich and politically connected. The literature has also been ambiguous about the channels through which finance may be associated with lower poverty (deposits versus credit). Looking at a sample of 37 countries in Sub-Saharan Africa from 1992 through 2006, the paper suggests that financial deepening is associated with lower poverty through different channels depending on the strength of property rights. In the absence of well-defined and enforced property rights, wider access to saving and risk-sharing instruments is accompanied by a reduction in poverty. Only once property rights grow stronger is credit associated with lower poverty.
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