Abstract
An increased separation between saving and investment decisions, i.e. large increases in financial assets relative to tangible assets, is seen by many economists1 to be a necessary if not sufficient condition for the self-sustained growth of an economy. Over the last three decades extensive theoretical and empirical research has focused on the relationship of financial development and economic development.
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© 1993 John H. Welch
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Welch, J.H. (1993). Financial Growth and Economic Development. In: Capital Markets in the Development Process. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-11211-1_2
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DOI: https://doi.org/10.1007/978-1-349-11211-1_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-11213-5
Online ISBN: 978-1-349-11211-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)