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 DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 95-07.
Date of creation: 1995
Date of revision:
Publication status: Published in N. Hermes and R. Lensink, eds, Financial Development and Economic Growth, London: Routledge, 1996, pp. 37-52
Other versions of this item:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
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