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An Evaluation on the Determinants of FinancialDevelopment: Literature Survey

Author

Listed:
  • Hüseyin Agir
  • Osman Peker
  • Muhsin Kar
Abstract
In the economic development process, important role of financial sector has long been emphasized in the literature. Especially with the emergence of endogenous growth theory, this relationship has again become very attractive and it is stated that financial development is one of the determinants of economic growth. However this whole literature did not sufficiently explain how the financial development occurs. Financial liberalization hypothesis has been a starting point to explain the financial development. In addition, recently, it is seen that studies which examine the process of financial development has increasingly increased and, within this vein, it is emphasized that legal origin, liberalizations of foreign trade and capital account, institutional structure, deposit insurance, efficient supervision and regulation and policy framework for macro economy influence financial development

Suggested Citation

  • Hüseyin Agir & Osman Peker & Muhsin Kar, 2009. "An Evaluation on the Determinants of FinancialDevelopment: Literature Survey," Journal of BRSA Banking and Financial Markets, Banking Regulation and Supervision Agency, vol. 3(2), pages 31-62.
    • Handle: RePEc:bdd:journl:v:3:y:2009:i:2:p:31-62
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    File URL: http://www.bddk.org.tr/Content/docs/bddkDergiTr/dergi_0006_04.pdf
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    More about this item

    Keywords

    Financial Development; Financial Liberalization; Legal Origin; Domestic and External Liberalization; Deposit Insurance; Efficient Supervision and Regulation;
    All these keywords.

    JEL classification:

    • E49 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Other
    • F19 - International Economics - - Trade - - - Other
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other
    • H69 - Public Economics - - National Budget, Deficit, and Debt - - - Other
    • K49 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Other

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