The role of financial development in poverty reduction

Johan Rewilak

Research output: Contribution to journalArticlepeer-review


This paper investigates whether financial development is conducive in poverty reduction. Separating financial development into four categories and using newly available data this paper finds that both financial deepening and greater physical access is beneficial in reducing the proportion of people below the poverty line. Using alternative measures of financial instability, the results also challenge existing findings that it may increase the incidence of poverty. In addition, the results remain robust even when controlling for mobile money, providing a further valuable contribution to the literature.
Original languageEnglish
Pages (from-to)169-176
JournalReview of Development Finance
Issue number2
Early online date17 Nov 2017
Publication statusPublished - 1 Dec 2017

Bibliographical note

© 2017 Africagrowth Institute. Production and hosting by Elsevier B.V. This is an open access article under the CC BY-NC-ND license


  • Financial development; Poverty reduction; Mobile money


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