Delivering Inclusive Financial Development and Growth

实现包容性金融发展和增长

• 批准号: ES/N013344/1
• 负责人: Victor Murinde
• 金额: $ 219.98万
• 依托单位: University of Birmingham
• 依托单位国家: 英国
• 项目类别: Research Grant
• 财政年份: 2016
• 资助国家: 英国
• 起止时间: 2016 至 无数据
• 项目状态: 已结题
• 来源: https://gtr.ukri.org/projects?ref=ES%2FN013344%2F1
• 关键词: Delivering; Inclusive; Financial; Development; Growth

According to Stiglitz (2006), the financial system acts as the 'brain' of an economy. Financial institutions and markets promote the dissemination and co-ordination of information about resource availability at every level throughout the economy, and so they enable an efficient allocation of these resources for supporting economic growth. However, it is not altogether clear how finance can deliver inclusive financial development and growth. Recent empirical research shows that in LICs there are financial development gaps as well as financial inclusion gaps (Allen et al., 2014). In addition, the links between the financial system and economic development have come under increasing scrutiny in recent years, especially following the 2007-09 global financial crisis (Caballero, 2015). The current consensus is that there is urgent need for research on the role of the finance in fostering inclusive financial development and sustainable economic growth.Led by the University of Birmingham, a consortium of UK and international partners will collaborate on this four-year programme of research. Partner institutions include the Institute of Development Studies at the University of Sussex, Loughborough University, the Overseas Development Institute, SOAS at the University of London, and the University of Nottingham in the UK, and the Universities of Groningen in the Netherlands, Laval in Canada, and Columbia in the US. Crucially, the project consortium also includes researchers from institutions in sub-Saharan Africa (SSA), namely the University of Ghana-Legon and the African Economic Research Consortium (AERC) in Kenya, who stand to benefit from the organisational and institutional capacity-building opportunities which underpin the research programme.The aim of this research is to identify workable policies to help make the financial sector an effective instrument in promoting financial inclusion and sustained growth in LICs, and consequently create an enabling environment for transitioning these countries to middle income status. We will provide a set of answers to ALL THREE critical questions posed in the Call for Proposals concerning i) the role of international capital flows in growth and development, ii) the design and provision of institutional frameworks to support financial development, and iii) the ways in which financial systems can help generate and transmit technical change in the economy as a whole.To achieve this ambitious goal, the project will be structured into four clusters on 1) institutional framework for inclusive growth, 2) capital flows, 3) technological diffusion, and 4) a cluster which will run in parallel to the other three to synthesise findings in order to derive meaningful policy recommendations and drive tangible global impact. Component II of the programme is planned to focus on additional policy-oriented issues, and will be developed in tangent with DFID policymakers, the ESRC and other national and international academics and end-user stakeholders, and will be run in partnership with the Africa Growth Initiative at the Brookings Institute, US.The research will cover a wide range of topics within the overall remit of financial sector development, so multiple innovative research methodologies will be employed across eight integrated work-streams. Methods include institutional analysis, i.e. the assessment of how institutional features of financial systems contribute to, or impede, financial sector objectives; field experiments; comparative analysis of the experience of countries with different policies and institutions; rapid appraisal and participatory appraisal methods; quantitative analysis of company and bank balance sheets, and quantitative and qualitative analysis of survey data. The major part of the research programme will entail empirical research based on fieldwork in selected LICs in SSA (Ethiopia, Ghana, Kenya, Rwanda, Uganda, Zambia), with wider application to other LICs globally.

根据斯蒂格利茨(2006)的观点，金融体系是经济的“大脑”。金融机构和市场促进在整个经济的各个层面传播和协调有关资源可获得性的信息，因此它们能够有效地分配这些资源，以支持经济增长。然而，目前还不完全清楚金融如何实现普惠金融的发展和增长。最近的经验研究表明，在小岛屿发展中国家存在金融发展差距和金融包容性差距(Allen等人，2014年)。此外，近年来，特别是在2007-09年全球金融危机之后，金融体系与经济发展之间的联系受到越来越多的关注(卡瓦列罗，2015年)。目前的共识是，迫切需要研究金融在促进普惠金融发展和可持续经济增长方面的作用。由伯明翰大学牵头的一个由英国和国际合作伙伴组成的财团将在这一为期四年的研究计划上进行合作。合作机构包括苏塞克斯大学发展研究所、拉夫堡大学、海外发展研究所、伦敦大学和英国诺丁汉大学，以及荷兰格罗宁根大学、加拿大拉瓦尔大学和美国哥伦比亚大学。至关重要的是，该项目财团还包括来自撒哈拉以南非洲(SSA)机构的研究人员，即加纳-莱贡大学和肯尼亚的非洲经济研究联盟(AERC)，他们将受益于支撑研究方案的组织和机构能力建设机会。这项研究的目的是确定可行的政策，帮助金融部门成为促进地方和国家金融包容性和持续增长的有效工具，从而为这些国家过渡到中等收入状态创造有利环境。我们将为征求建议书中提出的所有三个关键问题提供一套答案，这些问题涉及i)国际资本流动在增长和发展中的作用，ii)支持金融发展的体制框架的设计和提供，以及iii)金融系统如何帮助在整个经济中产生和传递技术变革。为了实现这一雄心勃勃的目标，该项目将被组织成四个集群，分别是1)包容性增长的体制框架，2)资本流动，3)技术传播，以及4)与其他三个集群并行运行的集群，以综合研究结果，以得出有意义的政策建议和推动切实的全球影响。该方案的第二部分计划侧重于其他以政策为导向的问题，并将与英国国际发展部政策制定者、ESRC和其他国家和国际学者以及最终用户利益攸关方一起制定，并将与美国布鲁金斯学会的非洲增长倡议合作开展。这项研究将涵盖金融部门发展总体范围内的广泛主题，因此将在八个综合工作流程中采用多种创新研究方法。方法包括体制分析，即评估金融系统的体制特征如何促进或阻碍金融部门的目标；实地试验；比较分析不同政策和体制的国家的经验；快速评估和参与性评估方法；公司和银行资产负债表的量化分析；以及调查数据的定量和定性分析。研究方案的主要部分将是根据在南沙群岛(埃塞俄比亚、加纳、肯尼亚、卢旺达、乌干达、赞比亚)选定的小岛屿发展中国家进行的实地调查的经验研究，并将其更广泛地应用于全球其他小岛屿发展中国家。

项目成果

Oil booms, bank productivity and natural resource curse in finance

• DOI: 10.1016/j.econlet.2019.07.002
• 发表时间: 2020
• 期刊: Economics Letters
• 影响因子: 2
• 作者: Morakinyo O. Adetutu;Kayode Odusanya;J. Ebireri;V. Murinde

Contemporary Issues in Development Finance

发展金融的当代问题

• 发表时间: 2020
• 作者: Abor J Y

Mobile Telephony, Financial Inclusion and Inclusive Growth

• DOI: 10.1080/15228916.2017.1419332
• 发表时间: 2018-01-01
• 期刊: JOURNAL OF AFRICAN BUSINESS
• 影响因子: 1.9
• 作者: Abor, Joshua Yindenaba;Amidu, Mohammed;Issahaku, Haruna
• 通讯作者: Issahaku, Haruna

The Macroeconomics of Aid: Overview

• DOI: 10.1080/00220388.2017.1303669
• 发表时间: 2017-03
• 期刊: The Journal of Development Studies
• 作者: T. Addison;O. Morrissey;F. Tarp

Has stock exchange demutualization improved market quality? International evidence

证券交易所股份互助化是否改善了市场质量？

• DOI: 10.1007/s11156-019-00863-y
• 发表时间: 2019
• 期刊: Review of Quantitative Finance and Accounting
• 影响因子: 1.7
• 作者: Abukari K