Contemporary Issues in Development Finance

Contemporary Issues in Development Finance provides comprehensive and up-to-date coverage of theoretical and policy issues in development finance from both the domestic and the external finance perspectives and emphasizes addressing the gaps in financial markets. The chapters cover topical issues such as microfinance, private sector financing, aid, FDI, remittances, sovereign wealth, trade finance, and the sectoral financing of agricultural and infrastructural projects. Readers will acquire both breadth and depth of knowledge in critical and contemporary issues in development finance from a philosophical and yet pragmatic development impact approach. The text ensures this by carefully integrating the relevant theoretical underpinnings, empirical assessments, and practical policy issues into its analysis. The work is designed to be fully accessible to practitioners with only a limited theoretical economic background, allowing them to deeply engage with the book as useful reference material. Readers may find more advanced information and technical details provided in clear, concise boxes throughout the text. Finally, each chapter is fully supported by a set of review questions and by cases and examples from developing countries, particularly those in Africa. This book is a valuable resource for both development finance researchers and students taking courses in development finance, development economics, international finance, financial development policy, and economic policy management. Practitioners will find the development impact, policy, and conceptual analysis dimensions insightful analysing and designing intervention strategies.

1. Introduction to contemporary issues in development finance Joshua Yindenaba Abor, Charles Komla Delali Adjasi, and Robert Lensink 2. Finance, economic growth, and development Lordina Amoah, Charles Komla Delali Adjasi, Issouf Soumare, Kofi Achampong Osei, Joshua Yindenaba Abor, Ebenezer Bugri Anarfo, Charles Amo-Yartey, and IsaacOtchere 3. Microfinance and development Niels Hermes and Robert Lensink 4. Private capital flows and economic growth Elikplimi Komla Agbloyor, Alfred Yawson, and Pieter Opperman 5. Remittances and development Hanna Fromell, Tobias Grohmann, and Robert Lensink 6. Foreign aid and economic development Matthew Kofi Ocran, Bernardin Senadza, and EricOsei-Assibey 7. Global financial architecture: emerging issues and agenda for reforms Joshua Yindenaba Abor, Angela Azumah Alu, David Mathuva, and Joe Nellis 8. Sovereign wealth management Mbako Mbo and Charles Komla Delali Adjasi 9. Sovereign debt management Amin Karimu, Vera Fiador, and Imhotep Paul Alagidede 10. Financial inclusion and economic growth Joshua Yindenaba Abor, Haruna Issahaku, Mohammed Amidu, and Victor Murinde 11. Financing agriculture for inclusive development Haruna Issahaku, Edward Asiedu, Paul Kwame Nkegbe, and Robert Osei 12. Financing sustainable development: new insights for the present and the future Gordon Abekah-Nkrumah, PatrickO. Assuming, Patience Aseweh Abor, and Jabir Ibrahim Mohammed 13. International trade, finance, and development Steven Brakman and Charles van Marrewijk 14. Infrastructure financing and economic development Saint Kuttu, shenafi Fanta, ichael Graham, and Joshua Yindenaba Abor 15. Finance and economic development: the role of the private sector Elikplimi Komla Agbloyor, Joshua Yindenaba Abor, Haruna Issahaku, and Charles Komla Delali Adjasi

Joshua Yindenaba Abor is a Professor of Finance at the Department of Finance, University of Ghana Business School, Ghana. He is also a Visiting Professor of Development Finance at the University of Stellenbosch Business School, South Africa. He has made significant contributions to financial economics literature, mainly in the areas of banking and finance, development finance, financial market development, corporate finance and governance, international financial flows, and growth. Charles Komla Delali Adjasi is a Professor of Development Finance and Economics at the University of Stellenbosch Business School, South Africa. He is also a Visiting Professor at the Department of Economics, Econometrics and Finance, University of Groningen, the Netherlands. His research focuses on financial markets development, firm productivity, international trade, and household welfare. Robert Lensink is a Professor of Finance and Financial Markets at the Department of Economics, Econometrics and Finance, University of Groningen, the Netherlands. He is also a Professor of Finance and Development at the Development Economics Group, Wageningen University & Research, and has published widely in the area of development finance.