Sources and Effectiveness of Financial Development: What We Know and What We Need to Know

Panicos Demetriades and Svetlana Andrianova

No RP2005-76, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Drawing on recent literature, the paper argues that institutions and political economy factors hold the key to understanding why some countries have succeeded in developing their financial systems while others have not. The paper also reviews new evidence which suggests that institutional quality may influence the effectiveness of financial development in delivering economic growth.

Keywords: Econometric models (Economic development); Finance infrastructure; Macroeconomics (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (15)

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