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Fridays Academy

Fridays Academy: Trade Policy and the Poor

Ignacio Hernandez's picture

Like every Friday, from Raj Nallari and Breda Griffith's lecture notes.


Although there exists a near-consensus among economists that trade liberalization strongly promotes growth and reduces poverty, concern about its ill effects has not abated among policymakers and the general public. Against this backdrop, in upcoming weeks we will review the links between openness, growth, and poverty reduction after first presenting the rationale for trade.


The Rationale for Trade


Financial Development and Poverty

Ignacio Hernandez's picture

From Raj Nallari and Breda Griffith's lecture notes.


A large body of both theoretical and empirical literature supports a positive causal link between a well-functioning financial system and economic growth.   In particular, the economic growth studies of the last decade show that financial depth causes economic growth and that it is one of the few robust determinants of the subsequent growth path of countries.