Overview of Development Finance Institutions

Joshua Yindenaba Abor ()
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Joshua Yindenaba Abor: University of Ghana Business School

Chapter Chapter 2 in The Changing Role of National Development Banks in Africa, 2023, pp 21-50 from Springer

Abstract: Abstract The relevance of finance in ensuring economic growth and development is clear in the extant literature (see Schumpeter in The theory of economic development. Harvard University Press, Cambridge, MA, 1934; Goldsmith in Financial structure and development. Yale University Press, New Haven, CT, 1969; McKinnon in Money and capital in economic development. Brookings Institution, Washington, DC, USA, 1973; Shaw in Financial deepening in economic development. Oxford University Press, New York, 1973). Gurley and Shaw (The American Economic Review 45:515–538, 1955), Gerschenkron (Economic backwardness in historical perspective—A book of essays. Harvard University Press, Cambridge, 1962) and Goldsmith (Financial structure and Development. Yale University Press, New Haven, CT, 1969) have emphasized the importance of financial intermediation and resource accumulation in the economic growth process.

Date: 2023
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DOI: 10.1007/978-3-031-38639-8_2

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