Domestic Resource Mobilization and Financial Development

This book provides insights into the evolving debate regarding the mobilization of domestic resources and the crucial role that financial development can and should play in this regard, exploring aspects of the financial development–domestic resource mobilization nexus, including country case studies.

'The UNU-WIDER Studies in Development Economics and Policy series have over recent years developed into a must read for anyone interested in sound policy advice for fighting global poverty. A central cornerstone of robust development is to mobilise sufficient domestic resources and to make them accessible to all. Domestic Resource Mobilization and Financial Development guides the reader toward valuable theory and field lessons on how to mobilise, intermediate and allocate savings through inclusive financial sectors.'

- Helmut Reisen, Head of Research, OECD Development Centre

'Financial markets are changing in the developing world. This book offers an insightful resource for critical understanding of the state and evolution of these markets.'

- Stefan Dercon, University of Oxford

'The African Economic Research Consortium (AERC) is pleased to add its voice in support of this volume. AERC has long recognized the important role of these two complementary issues in economic growth that helps the poor. Over our 20-year history, resource mobilization and financial sector issues have in one form or other always been among the selection of themes that guide our thematic research modality, while financial sector reform was the specific theme of one of our earliest Senior Policy Seminars, annual gatherings of top policy makers in the continent. On the other hand, domestic resource mobilization has been the topic of two more recent Senior Policy Seminars. Because both research and seminar themes are specifically chosen to reflect policy makers' own demands and concerns, we know that these issues are high on the policy agenda and we are confident that this book will be extremely useful to the policy community.'

- William M. Lyakurwa, Executive Director, African Economic Research Consortium

ERNEST ARYEETEY Professor of Economics and Director of the Institute of Statistical, Social and Economic Research (ISSER), University of Ghana, Legon MINA BALIAMOUNE-LUTZ Associate Professor of Economics, University of North Florida, USA SALVATORE CAPASSO Associate Professor of Economics, University of Naples, 'Parthenope', Italy PANICOS DEMETRIADES Professor of Financial Economics, Department of Economics, University of Leicester, UK BASSAM FATTOUH Reader in Finance and Management, School of Oriental and African Studies, University of London, UK; Senior Research Fellow at the Oxford Institute for Energy Studies, UK ALEMAYEHU GEDA Associate Professor, Department of Economics, Addis Ababa University; Researcher, African Economic Research Consortium, Economic Commission for Africa and University of London, SOAS, UK IFTEKHAR HASAN Cary L. Wellington Professor of Finance, Rensselaer Polytechnic Institute, USA; Scientific Advisor, Central Bank of Finland; Visiting Scholar, Federal Reserve Bank of Atlanta, USA; Research Fellow, Berkley Center of Entrepreneurial Studies at the Stern School of Business, New York University, USA ROBERT LENSINK Professor in Finance and Financial Markets, University of Groningen, Netherlands SAMUEL MUNZELE MAIMBO Senior Financial Sector Specialist, Africa Finance and Private Sector Unit, World Bank MACHIKO NISSANKE Professor of Economics, School of Oriental and African Studies (SOAS), University of London, UK SANG-IK SON Deputy Director, Statistical Research Institute, Korea National Statistical Office, South Korea PHAM THI THU TRÀ Lecturer, Cantho University, Vietnam MINGMING ZHOU Assistant Professor of Finance, University of Alaska Fairbanks, USA