2003•Dangdai jingji kexueRequires access
Theory of Financial Development: a Documental Summary
Jin Xue-qun
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Abstract
Established by McKinnon and Show at the end of 1980s, financial development theory, with the modern financial theory and endogenous economic growth theory as its theoretical basis to rebuild itself, has become a common theory on financial development in both developing and developed countries. In terms of the sequence, this article makes a systematic comment on the major documents in this field and of the theory evolution, and introduces the latest headway made in the research.