Financial development and poverty alleviation in Muslim developing countries / Maizura Md Isa, Nor Hazila Ismail and Mohamed Eskandar Shah Mohd Rasid

Md Isa, Maizura and Ismail, Nor Hazila and Mohd Rasid, Mohamed Eskandar Shah (2018) Financial development and poverty alleviation in Muslim developing countries / Maizura Md Isa, Nor Hazila Ismail and Mohamed Eskandar Shah Mohd Rasid. Insight Journal, 2. pp. 98-108. ISSN 2600-8564

Abstract

The positive impact of financial development on economic growth has been widely discussed, but the literature on the impact of financial development on poverty is inconclusive. Theoretical predictions advocate that financial development contributes directly to poverty reduction in three ways. Firstly, it alleviates poverty in a direct way via saving, insurance service and access to credit that can enhance the productivity of the poor. Secondly, financial development would enable the poor to access financial services, and enhance the productive assets of the poor, by improving productivity and increasing the potential to achieve sustainable gains. Lastly, the direct relationship between financial development and poverty reduction depends on the quality of financial instruments, services and institutions available to the poor. Varied explanatory discover on panel studies that suggest although financial development can foster economic growth, yet this does not could help in lighten the poorer people in Muslim developing countries.

Metadata

Item Type: Article
Creators:
Creators
Email / ID Num.
Md Isa, Maizura
UNSPECIFIED
Ismail, Nor Hazila
UNSPECIFIED
Mohd Rasid, Mohamed Eskandar Shah
UNSPECIFIED
Contributors:
Contribution
Name
Email / ID Num.
Editor
Zainon, Assoc. Prof Dr. Saunah
UNSPECIFIED
Editor
Raja Ahmad, Dr. Raja Adzrin
UNSPECIFIED
Editor
Soo Kum Yoke, Assoc. Prof. Dr. Carolyn
UNSPECIFIED
Editor
Kadri, Assoc. Prof. Dr Mohd Halim
UNSPECIFIED
Editor
Mohd Ariff Albakri, Assoc. Prof. Dr. Intan Safinas
UNSPECIFIED
Editor
Shamsuddin, Assoc. Prof. Dr. Hj Amanuddin
UNSPECIFIED
Editor
Che Yaakob, Assoc. Prof. Ahmad Nawawi
UNSPECIFIED
Editor
Ismail, Dr. Noriah
UNSPECIFIED
Editor
Khairani, Dr. Noor Sufiawati
UNSPECIFIED
Editor
Othman, Dr. Akmal Aini
UNSPECIFIED
Editor
Ismail, Dr Norashikin
UNSPECIFIED
Editor
Ahmad, Dr Syahrul Ahmar
UNSPECIFIED
Editor
Misman, Dr. Faridah Najuna
UNSPECIFIED
Subjects: H Social Sciences > HC Economic History and Conditions > Poor. Poverty
H Social Sciences > HD Industries. Land use. Labor > Economic development. Development economics. Economic growth
Divisions: Universiti Teknologi MARA, Johor > Segamat Campus
Journal or Publication Title: Insight Journal
UiTM Journal Collections: UiTM Journal > INSIGHT Journal (IJ)
ISSN: 2600-8564
Volume: 2
Page Range: pp. 98-108
Related URLs:
Keywords: Financial developments; Poverty; Muslim Developing Countries; UiTM Cawangan Johor
Date: 2018
URI: https://ir.uitm.edu.my/id/eprint/41331
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