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The Association between Financial Development and Economic Development: A Review

African Journal of Business Management, Vol. 5, No. 35, pp. 13428-13434, December 2011

7 Pages Posted: 11 Jan 2012  

Syed Hamid Ali Shah

Government of Pakistan, Institute of Management Sciences

Attaullah Shah

Institute of Management Sciences

Date Written: November 4, 2011

Abstract

This paper presents an overview of the theoretical and related empirical literature on the association between financial system development and economic growth. It describes the role of financial system development in economic growth at the macro level, both theoretically and empirically. It also describes briefly the relationship of corporate finance and firm performance. It finally concludes the review and presents some policy implications in view of the reviewed literature.

Keywords: Financial development, growth, financial system

Suggested Citation

Shah, Syed Hamid Ali and Shah, Attaullah, The Association between Financial Development and Economic Development: A Review (November 4, 2011). African Journal of Business Management, Vol. 5, No. 35, pp. 13428-13434, December 2011. Available at SSRN: https://ssrn.com/abstract=1983411

Syed Hamid Ali Shah

Government of Pakistan, Institute of Management Sciences ( email )

Hayatabad, Peshawar

Attaullah Shah (Contact Author)

Institute of Management Sciences ( email )

1-A, Sector E / 5, Phase – VII, Hayatabad, Peshawa
Peshawar, NWFP 25000
Pakistan
+923459146115 (Phone)

HOME PAGE: http://www.opendoors.pk

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