Economic growth and financial development are intrinsically related. Literature provides evidence that economic growth leads to financial development and financial development also leads to economic growth. The study analyzes this association between economic growth and financial development...

It is striking how often countries with oil or other natural resource wealth have failed to grow more rapidly than those without. This is the phenomenon known as the Natural Resource Curse. The principle has been borne out in some econometric tests of the determinants of economic performance...