SVETLANA ANDRIANOVA Lecturer in Economics, Department of Economics, University of Leicester, UKLEONARDO BECCHETTI Full Professor of Economics, University of Rome Tor Vergata, Italy; President, Supervising Committee of Banca Popolare EticaFABRIZIO CARMIGNANI Central African Office of the United Nations Economic Commission for AfricaABDUR CHOWDHURY Director, United Nations Economic Commission for Europe, Geneva, SwitzerlandPANICOS DEMETRIADES Professor of Financial Economics, Department of Economics, University of Leicester, UKALEMAYEHU GEDA Associate Professor, Department of Economics, Addis Ababa University, Ethiopia; Researcher, African Economic Research Consortium; Researcher, Economic Commission for Africa; Researcher, University of London, SOASIFTEKHAR HASAN Cary L. Wellington Professor of Finance, Rensselaer Polytechnic Institute; Scientific Advisor, Central Bank of Finland; Visiting Scholar, Federal Reserve Bank of Atlanta; Research Fellow, Berkley Center of Entrepreneurial Studies, Stern School of Business, New York UniversityNIELS HERMES Associate Professor, International Finance, University of Groningen, the NetherlandsSAIBAL KAR Fellow, Centre for Studies in Social Sciences, Calcutta, IndiaPRANAB KUMAR DAS Fellow in Economics, Centre for Studies in Social Sciences, Calcutta, IndiaSUBAL C. KUMBHAKAR University Distinguished Professor in Economics, SUNY, Binghamton, New York; Fellow, Journal of EconometricsROBERT LENSINK Professor in Finance andFinancial Markets, University of Groningen, the NetherlandsMARCO MAZZOLI Associate Professor of Monetary and International Economics and Director of the Research Centre 'CESPEM Mario Arcelli', Catholic University, Piacenza, ItalyS. MANSOOB MURSHED Professor of the Economics of Conflict and Peace, Institute of Social Studies, the Netherlands; Professor of International Economics, Birmingham Business School, University of Birmingham, UKPETER QUARTEY Research Fellow, Institute of Statistical, Social and Economic Research, University of GhanaABEBE SHIMELES Research Fellow, University of Goteborg, Sweden; Researcher, African Economic Research Consortium; Researcher, Economic Commission for AfricaDANIEL ZERFU Lecturer, Addis Ababa University, Ethiopia

• Introduction and Overview; B.Guha-Khasnobis & G.Mavrotas Sources and Effectiveness of Financial Development: What We Know and What We Need to Know;  P.Demetriades &  S.Andrianova The Poverty Macroeconomic Policy Nexus: Some Short-Run Analytics; G.Mavrotas &  S.M.Murshed Finance and Poverty in Ethiopia: A Household Level Analysis; A.Geda, A.Shimeles &  D.Zerfu Financial Sector Development, Savings Mobilization and Poverty Reduction in Ghana; P.Quartey Finance and Growth: An Empirical Assessment of the Indian Economy; P.K.Das &  B.Guha-Khasnobis The Impact of Financial Openness on Economic Integration: Evidence from Europe and the CIS; F.Carmignani &  A.Chowdhury Does Financial Liberalization Influence Saving, Investment and Growth? Evidence from 25 Emerging Market Economies, 1973-1996; N.Hermes &  R.Lensink The Corporate Debt Market in India: An Analytical Study of Macroeconomic and Institutional Issues; B.Guha-Khasnobis &  S.Kar Financial Markets and R&D Investments: A Discrete Time Model to Interpret Public Policies; M.Mazzoli Financial Sector Development and Total Factor Productivity Growth; S.Kumbhakar &  G.Mavrotas The Effects of Regional Integration: Impact on Real Effective Exchange Rate Volatility, Institutional Quality and Growth for MENA Countries; L.Becchetti &  I.Hasan