Noland, Marcus; PARK, DONGHYUN; Ramayandi, Arief; … - Peter G. Peterson Institute for International Economics … - 2015
Developing Asia has exhibited rapid growth while saddled with relatively backward financial systems. One might conclude … that the coexistence of sustained rapid growth and financial underdevelopment in developing Asia implies that an efficient … financial sector is not indispensable for economic development. A more considered view would be that developing Asia grew …