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How important historically were financial systems for growth in the UK, US, Germany, and Japan?

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How important historically were financial systems for growth in the UK, US, Germany, and Japan?

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How Important Historically Were Financial Systems for Growth in the U.K., U.S., Germany, and Japan?

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The sources of finance for industrial development include (i) banks, (ii) securities markets, (iii) internal finance, (iv) alternative sources of finance such as angel finance, trade credit, families, and friends, and (v) governments. All four countries had sophisticated financial systems and...

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