This paper tries to take into account two contrasted points of view that can be found the literature: the first one showing that financial development has a positive effect on economic growth, and the second one stressing the unfavourable effect of financial crisis. Our main assumption is that...

This paper tries to take into account two points of view of the litterature, the first one shows that financial development has positive effect on economic growth, and the second one stresses on the unfavourable effect of financial crisis. Our main assumption is that financial instability is...

This article investigates how financial development is beneficial to the reduction of poverty, on the one hand by promoting growth and on the other hand directly due to the Mac Kinnon “conduit effect”. But simultaneously financial development induces financial instability what is detrimental...