1945

Theoretical perspectives of financial development and financial integration

The economic literature posits that a well-functioning economy needs a financial system that moves funds from people who save to people who have productive investment opportunities. In other words, a sound financial system acts as a conduit for sustainable economic growth. The link between financial development and growth was first demonstrated in the literature by Walter Bagehot (1873) and John Hicks (1969), who pointed out that industrialization of England was possible because of the use of the financial system to mobilize productive financial capital.

Related Subject(s): International Trade and Finance
/content/books/9789210598804c015
dcterms_title,dcterms_subject,pub_keyword
-contentType:Journal -contentType:Contributor -contentType:Concept -contentType:Institution
10
5
This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error
aHR0cHM6Ly93d3cudW4taWxpYnJhcnkub3JnLw==