Financial development and economic growth in the era of financial liberalization

Victoria S Kenny

MPRA Paper from University Library of Munich, Germany

Abstract: Financial Institutions play crucial intermediary roles in achieving a nation’s economic growth which is achieved by the way financial intermediaries consolidate funds and channel them between the surplus and deficit sectors of an economy (Nwaeze Chinweoke 2014). The strengthening of these financial institutions goes a long way in ensuring macroeconomic stability and sustainable economic growth. Financial development ensures that financial institutions improves information communication in terms of possible investment opportunities and capital allocation, firm monitoring, exertion of corporate governance, savings pool mobilization as a means of payment.

Keywords: Financial institutions; intermediaries; capital allocation; economic growth (search for similar items in EconPapers)
JEL-codes: F60 (search for similar items in EconPapers)
Date: 2019-08
New Economics Papers: this item is included in nep-fdg
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