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Finance and economic development : policy choices for developing countries

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  • Demirguc-Kunt, Asli
Abstract
The empirical literature on finance and development suggests that countries with better developed financial systems experience faster economic growth. Financial development-as captured by size, depth, efficiency, and reach of financial systems-varies sharply around the world, with large differences among countries at similar levels of income. This paper argues that governments play an important role in building effective financial systems and discusses different policy options to make finance work for development.

Suggested Citation

  • Demirguc-Kunt, Asli, 2006. "Finance and economic development : policy choices for developing countries," Policy Research Working Paper Series 3955, The World Bank.
    • Handle: RePEc:wbk:wbrwps:3955
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    16. Mr. Calixte Ahokpossi & Kareem Ismail & Mr. Sudipto Karmakar & Mr. Mesmin Koulet-Vickot, 2013. "Financial Depth in the WAEMU: Benchmarking Against Frontier SSA Countries," IMF Working Papers 2013/161, International Monetary Fund.
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    18. A. G. Zagorchev & G. Vasconcellos & Y. Bae, 2011. "The long-run relation among financial development, technology and GDP: a panel cointegration study," Applied Financial Economics, Taylor & Francis Journals, vol. 21(14), pages 1021-1034.
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    1. Asli Demirgüç-Kunt & Ross Levine, 2008. "Finance, Financial Sector Policies, and Long-Run Growth," World Bank Publications - Books, The World Bank Group, number 28021.
    2. Beck, Thorsten, 2006. "Creating an efficient financial system : challenges in a global economy," Policy Research Working Paper Series 3856, The World Bank.
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    Keywords

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