Financial development and economic growth : a theoretical perspective
Part of : Αρχείον οικονομικής ιστορίας ; Vol.XXIV, No.2, 2012, pages 23-34
Issue:
Pages:
23-34
Author:
Abstract:
The relationship between financial and economic development has been a controversial issue among economists for many years. The effect of the development of financial markets on economic growth is considered an important issue. Although the relationship between financial development and economic growth has been widely discussed from a large number of studies from the beginning of the 20th century, each one has found important results only for the examined period. The results of causality both on theoretical and empirical papers prove that there is a relationship between financial and economic growth to all directions.
Subject:
Subject (LC):
Keywords:
Financial Development, Economic Growth, Causal Relationship
Notes:
JEL classification: O11, C22
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