Demand-Driven Financial Development
AbstractThe historical record suggests that economic development is associated with the rise of the financial sector. This rise is often triggered by exogenous events such as large budget deficits generated by wars or the availability of large investment projects such as railroads. This paper discusses the role played by such demand factors in financial development and how they favour growth.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1160.
Date of creation: Apr 1995
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Other versions of this item:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
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