This study discusses the current state of knowledge on the financial development and economic growth by reviewing the most decisive theoretical and empirical contributions. It is obvious that financial development is at least correlated with economic development and that a sound and refined...

This paper analyses the impact of development and efficiency of financial sector on economic growth of a group of selected developing countries using a cross-country data averaged over the period 2005-2009. The results show that the impact of financial sector efficiency on economic growth is...