International Research Journal of Commerce , Arts and Science

 ( Online- ISSN 2319 - 9202 )     New DOI : 10.32804/CASIRJ

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FINANCIAL STRUCTURES AND ECONOMIC DEVELOPMENT

    2 Author(s):  SONAM BHATI , SALONI BHATI

Vol -  5, Issue- 9 ,         Page(s) : 9 - 15  (2014 ) DOI : https://doi.org/10.32804/CASIRJ

Abstract

ABSTRACT This paper discusses the emergence of financial structures and the three alternative ways in which the role of the financial structure helps in economic development. The three alternative views are: first, the primitive view by John G. Gurley and E. S. Shaw. Second, the functional approach by Ross Levine. The last one is the historical perspective by Alexander Gerschenkron. The three views are followed by the conclusion.

  1. Gurley, John G. and E.S. Shaw (1967), “Financial Structure and Economic Development”, Economic Development and Cultural Change, Vol. 15 No 3.
  2. Ross Levine, "Financial Development and Economic Growth: Views and Agenda", Journal of Economic Literature, June 1997, Section II A to II H. 
  3. Gerschenkron A. (1962), Economic Backwardness in Historical Perspective: A Book of Essays, Cambridge: Mass. Harvard University Press.
  4. C. P. Chandrasekhar, “Alexander Gerschenkron and Late Industrialization” in Jomo K.S. (ed.), The Pioneers of Development Economics: Great Economists on Development”, Delhi: Tulika Books and London: Zed Books, 2005.

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