Demand-Driven Financial Development

The historical record suggests that economic development is associated with the rise of the financial sector. This rise is often triggered by exogenous events such as large budget deficits generated by wars or the availability of large investment projects such as railroads. This paper discusses the role played by such demand factors in financial development and how they favour growth.

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Year of publication:	1995-04
Authors:	Saint-Paul, Gilles
Institutions:	C.E.P.R. Discussion Papers
Subject:	Crowding-Out \| Deficits \| Economic Growth \| Financial Markets \| Privatization \| Saving

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Extent:	application/pdf
Series:	CEPR Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 1160
Classification:	O1 - Economic Development
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005789013