Paper argues that the finance dimension of economic development has often been treated as an afterthought by researchers and politicians alike. Experience has revealed that financial development is correlated with current and future economic growth, capital accumulation, and productivity improvements. Financial sector policies in emerging economies should focus on enhancing, rather than inhibiting, the multiple roles of financial markets.
Paper argues that the finance dimension of economic development has often been treated as an afterthought by researchers and politicians alike. Experience has revealed that financial development is correlated with current and future economic growth, capital accumulation, and productivity improvements. Financial sector policies in emerging economies should focus on enhancing, rather than inhibiting, the multiple roles of financial markets.
Paper argues that the finance dimension of economic development has often been treated as an afterthought by researchers and politicians alike. Experience has revealed that financial development is correlated with current and future economic growth, capital accumulation, and productivity improvements. Financial sector policies in emerging economies should focus on enhancing, rather than inhibiting, the multiple roles of financial markets.
Paper argues that the finance dimension of economic development has often been treated as an afterthought by researchers and politicians alike. Experience has revealed that financial development is correlated with current and future economic growth, capital accumulation, and productivity improvements. Financial sector policies in emerging economies should focus on enhancing, rather than inhibiting, the multiple roles of financial markets.