Ghana, financial development, economic growth, credit, size of government. Request pdf financial development and economic growth. Financial development and economic growth sciencedirect. While financial inclusion is typically measured by ownership of an account by individuals, financial development is measured by macrolevel indicators, such as market capitalization of the stock market or a countrys ratio of credit to gross domestic product gdp. Introduction heoretically, schumpeterian authors as well as. Financial development, economic growth, international. The effect of interest rate reforms on financial development is examined using a financial deepening model, and the causal relationship between financial development and economic growth is. Indicators of financial structure, development, and soundness 1 i h g f e d c b a 12 11 10 9 8 7 6 5 4 3 2 available money and capital market instruments. One factor that has accounted for the observed growth of financial systems in many countries number of institutions and size. Use the free adobe acrobat reader to view this pdf file. Views and agenda article pdf available in journal of economic literature 352. This section also provides an overview of the econometric techniques used in this.
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