How to make financial sector development strategies work : successes and failures - 5 key lessons learned

A country's financial sector plays a critical role in economic development. Research confirms that countries with more developed financial sectors tend to enjoy a sustained period of growth. Financial sector development is not simply a result of economic growth; it is also the driver for growth. Additionally, a more developed financial sector reduces poverty and inequality by enabling and broadening access for the poor and other vulnerable groups, by facilitating risk management and reducing the groups' vulnerability to shocks, and by raising investment and productivity, which generates higher income.