A researcher extracts data from a database and observes that developing countries score
low on economic development indicators as well as on financial development indicators. He
uses this observation to assert that financial development is the main pre-requisite to
economic development in poorer countries. He also hypothesises that this is especially so if
the economy has a large informal sector. Your task is to critically analyse and discuss the
researcher’s argument using your own data analysis as well as related theoretical and
empirical literature. The task has been divided into two parts, A and B, as outlined below.
Note: The assignment has to be submitted as a single document in one file, with parts A and
B answered separately.
Part A: Data Report (1000 words including tables and/or graphs, excluding
references. There is no 10% margin to exceed the word limit)
Extract relevant data from the World Bank website, present your tables and/or graphs in a
clear and coherent way and argue whether the researcher’s observation regarding economic
development and financial development indicators is correct. Critically discuss (and justify)
your choice of countries and indicators and use the literature to support your discussion.
Part B: Essay (2000 words excluding references. There is no 10% margin to exceed the
Critically discuss whether you agree or disagree with the researcher’s assertion that financial
development is the main pre-requisite to development in poorer countries, especially those
with a large informal sector. Use the data report created in part A to support your answer
(refer to it in your discussion rather than reproducing it). Your essay also needs to be
supported by the relevant theoretical and empirical literature, as well as further data
extraction/analysis, if required.
When preparing for this assignment you can use relevant material from weekly lecture notes
and seminars as a rough guide. However, this is not enough. You must also read the
recommended readings provided later in this brief, lecture notes, seminar tasks as well as
other material you consider relevant. Use only the Harvard system to reference it. Please
note that internet sources will not be accepted as legitimate references unless they are
respectable academic journals. Be very careful not to plagiarise knowingly or unknowingly.
Note also that this essay is a piece of work to be completed by the individual and is not
group work. See https://www.brookes.ac.uk/students/upgrade/study-skills/referencing/ for
further details regarding referencing, plagiarism and syndication.
- Learning Outcomes
Through the completion of parts A and B of the coursework you are expected to achieve the
following learning outcomes:
- To be able to extract, interpret and critically discuss the use of basic relevant data from a reputed source such as the World Bank
- To be able to critically analyse if economic development must rest on financial development in the context of a developing country in general and one with a large informal sector in particular.
- To use a wide range of academic articles (both theoretical and empirical) to support your discussion, critically analysed.
- Be able to communicate complex ideas effectively through your writing.
- To demonstrate your ability to follow general academic writing rules, organise and structure essay as well as follow formatting rules provided below.
Part A, the Data Report, should contain an introduction,, appropriate tables and/or graphs
with sources clearly presented and choices justified, discussion/interpretation of the
data/findings and conclusion. This section requires its own list of references.
Part B, the essay, should consist of the following three distinct sections (titled appropriately,
as in a standard journal article) in the following order.
Introduction: Motivate the reader and provide a clear idea of what your main argument is and
how you have decided to approach the question. You may want to define the scope of your
essay at this point (i.e., what the essay does or does not do).
Body of the essay (may be split into further subsections if relevant. Please give this section
and its subsections sensible titles and number them. For example, if the body comprises
two key sections number them 2 and 3 and any subsections within them 2.1, 2.2, etc. as
appropriate). A good, coherent structure is very important to help the argument flow logically.
Too many sections will make the argument sound choppy and too few make it too dense.
The section should expand on the arguments you set out in the introduction. Your discussion
should be analytical and critical and not just a summary of what you read. Support the
discussion using the Data Report (Part A) and, if appropriate, further data.
Conclusion: Draw from the main points in the body of the essay and present a conclusion to
the original issue posed in the question.
4a. Suggested readings
- The relevant chapters on economic growth and development in the suggested texts (Ray
- Arcand, J.L., Berkes, E. and Panizza, U., 2015. Too much finance?. Journal of Economic
Growth, 20(2), pp.105-148. A version of the paper found in https://www.imf.org/en/Publications/WP/Issues/2016/12/31/Too-Much-Finance-26011
- Beck, A. Demirgüç-Kunt, R. Levine, Finance, inequality and the poor Journal of Economic
Growth, 12 (1) (2007), pp. 27-49. A version of this paper is found at
- Beck, T., 2013. Finance for development: A research Agenda. ESRC-DFID DEGRP
- Demirguc-Kunt A and Levine R (2001), Financial Structure and Economic Growth, MIT
- Kirkpatrick, C., V Murinde, C Green. Finance and Development: Theory, Practice and
Policy. Edited by Kirkpatrick, C. Murinde, V. Green, C. , Cheltenham: Edward Elgar, 2004, chapter 1
- Levine, R. Financial Development and Economic Growth: Views and Agenda, Journal of
Economic Literature, Vol. 35, No. 2 (Jun., 1997), pp. 688-726
- Levine, R., 1997. Financial development and economic growth: views and agenda. Journal
of economic literature, 35(2), pp.688-726.
- Nissanke M and E Aryeetey (1998), Financial Integration and Development, Routeledge,
- Rajan, R. G and Zingales, L. (1998). ‘Financial Dependence and Growth,’ American
Economic Review, American Economic Association, vol. 88(3), pages 559-86
- Svirydzenka, K (2016) Introducing a New Broad-based Index of Financial Development,
IMF Working paper WP/16/5 https://www.imf.org/external/pubs/ft/wp/2016/wp1605.pdf
- World Bank (2014) Global Financial Development Report: Financial Inclusion
The suggested readings are meant to give you a start to build up your own extended reading
list. You could build your own extended reading list by following the references cited in these
readings but, even more important, by doing your own literature search. You should only cite
academic publications (for example, peer reviewed academic journals, working
papers/publications from institutions such as the NBER, World Bank or IMF). Please do not
cite from newspapers, magazines (such as the Economist), blogs or sources such as
4b. Suggested Database
(or the ‘Pocket book version’: https://www.worldbank.org/en/publication/gfdr/data/little-databook-on-financial-development)
- Presenting coursework for assessment
Assignments must be presented in the following format:
- Assignments must be word-processed in 11 font Arial and double spaced
- All pages must be numbered
- Margins must be as follows: Top: 1 inch, Bottom: 1 inch (2.5 cm), Left: 1.25 inches, Right:
1.25 inches (3.2 cm)
– Parts A and B should be presented in a single file (not two separate files).
Assignments not complying with this format will be returned to students unmarked.
- Assessment Criteria (relative weight in brackets)
- Use of relevant data extracted from a database and interpreted/analysed correctly and
- Knowledge, understanding and critical assessment of the issues involved in financial
development and economic development in the context of a developing country in general
and one with a large informal sector in particular (40%)
- The structure and presentation, evidence of wider reading correctly referenced (15%)
- Ability to construct an argument that is coherent, consistent, critical and persuasive,
theoretically and empirically substantiated. (15%)
- Word Limit
The total word limit is strictly 3000 words which is to be divided as 1000 words for part A
and 2000 for part B, including graphs and tables (there is no 10% margin to be used to
exceed word limit).
- Assignment Length
The length of an assignment is limited by a set number of words to contribute towards the
development of writing skills and to ensure all work is assessed equitably. We therefore
require you to complete your assignments within the number of words as specified.
You need to think carefully about how best to explain your case within the permitted number
of words, using, for example, an appropriate mix of text, drawings, diagrams and tables. The
specified word count refers to the entire essay including the front page, tables, diagrams, but
excluding the reference list. Avoid appendices: they will not be marked.
Please also remember that a report can be enhanced or damaged through layout, for
example, placing all tables and drawings in appendices can hamper the flow of discussion.
Decisions therefore need to be made about the most appropriate place to use tables etc, to
support your case. Words that exceed the maximum allowed will not be marked. If in doubt,
you should discuss this with the Module Supervisor before submission.
TO GET THIS OR ANY OTHER ASSIGNMENT DONE FOR YOU FROM SCRATCH, PLACE A NEW ORDER HERE