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Introduction

  • Josef C. Brada
  • Paul Wachtel

Abstract

The importance of finance for economic development is now well understood by both economic researchers and policy makers. Robust financial intermediaries that can efficiently allocate resources to the most productive uses are the foundation of a successful growth strategy. Interestingly, this has not always been the case. Mid-20th-century economic development discussions paid little attention to finance; its role only became clear in the last 25 years or so.

Keywords

Foreign Currency Global Financial Crisis Foreign Bank Emerge Market Economy Credit Expansion 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Josef C. Brada and Paul Wachtel 2016

Authors and Affiliations

  • Josef C. Brada
    • 1
  • Paul Wachtel
    • 2
  1. 1.Arizona State UniversityUSA
  2. 2.Leonard N. Stern School of BusinessNew York UniversityUSA

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