​The role of the financial sector is often regarded as critical in transforming economies. Many countries, especially low income ones, are characterised by a low scale in terms of depth and efficiency of the sector, implying insufficient credit to the private sector, including SMEs and long term finance; in others it is poorly regulated posing risks for financial stability. When is lack of financial sector depth the constraint and when are countries too financialised? How can countries avoid a situation whereby finance comes in only two forms: famine or feast? How can finance contribute to inclusive growth and transformation, whilst ensuring financial stability?

Please join international financial sector experts for this special event, as part of the Civil Society Policy Forum of the IMF/World Bank Spring Meetings April 2014. The Governor, Professor Njuguna Ndung'u from the Central Bank of Kenya will open the meeting.

The DFID-ESRC Growth Research Programme (DEGRP) funds world class research on agriculture, innovation and finance and growth in low income countries. DEGRP research in the finance theme examines how financial structures and sector depth is related to economic growth and transformation. This panel will draw on existing DEGRP and other research and practice. It will also map out a future research agenda aiming to inform a call for research on finance and development.