The Relationship Between the Development of Financial System and Economic Growth (Literary Review)


Abstract in English

This article aims to revision of literature concerned with the study of relationship between financial system development and the economic growth. To confirm the nature of this relationship and its direction and also defining how the financial system may affect economy, because many theoretical and applied studies treated this questions due to its huge importance and the importance of decision based on its results. So to what extent these studies could answer.

References used

Aghion, P., Hewitt, P. et Mayer-Foulkes, D. (2005), "The Effect of Financial Development on Convergence: Theory and Evidence, Quarterly Journal of Economics", vol. 120 (1):173-222
Arestis, P., Demetriades, P.O. Fattouh, B. and Luintel, K. P. (2001), "Financial Development and Economies Growth : The Role of Stock Markets", Journal of Money, Credit, and Banking, vol. 33 (1):16-41
Beck, T., Levine, R. and Loayza, N. (2000), "Finance and the Sources of Growth", Journal of Financial Economics, vol. 58:261-300

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