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Financial Growth and Economic Development

In: Capital Markets in the Development Process

Author

Listed:
  • John H. Welch

    (Federal Reserve Bank of Dallas)

Abstract

An increased separation between saving and investment decisions, i.e. large increases in financial assets relative to tangible assets, is seen by many economists1 to be a necessary if not sufficient condition for the self-sustained growth of an economy. Over the last three decades extensive theoretical and empirical research has focused on the relationship of financial development and economic development.

Suggested Citation

  • John H. Welch, 1993. "Financial Growth and Economic Development," Palgrave Macmillan Books, in: Capital Markets in the Development Process, chapter 1, pages 16-44, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11211-1_2
    DOI: 10.1007/978-1-349-11211-1_2
    as

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