FINANCIAL DEEPENING AS A PREREQUISITE TO INVESTMENT GROWTH: EMPIRICAL EVIDENCE FROM FIVE EAST ASIAN ECONOMIES

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The Developing EconomiesVolume 17, Issue 3 p. 295-306 Free Access FINANCIAL DEEPENING AS A PREREQUISITE TO INVESTMENT GROWTH: EMPIRICAL EVIDENCE FROM FIVE EAST ASIAN ECONOMIES James W. HARRIS, James W. HARRISSearch for more papers by this author James W. HARRIS, James W. HARRISSearch for more papers by this author First published: September 1979 https://doi.org/10.1111/j.1746-1049.1979.tb00616.xCitations: 2AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat REFERENCES 1 ADELMAN, I., and KIM, M. J. An Econometric Model of the Korean Economy,” in Practical Approaches to Development Planning, ed. I. Adelman ( Baltimore : Johns Hopkins Press, 1969). 2 BHATIA, R. J., and KHATKHATE, D. R. Financial Intermediation, Savings Mobilization, Entrepreneurial Development: The African Experience,” IMF Staff Papers, Vol. 22, No. 1 (1975). 3 BLOMQVIST, A. G. Empirical Evidence on the Two-Gap Hypothesis—A Revised Analysis,” Journal of Development Economics, July 1976. 4 CHENERY, H. B., and BRUNO, M. Development Alternatives in an Open Economy: The Case of Israel,” Economic Journal, March 1962. 5 CHENERY, H. B., and STROUT, A. M. Foreign Assistance and Economic Development,” American Economic Review, September 1966. 6 FRANK, C. R.; KIM, K. S. and WESTPHAL, L. E., Foreign Trade Regime and Economic Development: South Korea, National Bureau of Economic Research ( Cambridge : Ballinger Press, 1977). 7 FRY, M. J. Money and Capital or Financial Deepening in Economic Development Journal of Money, Credit, and Banking, November 1978. 8 GALBIS, V. Structuralism and Financial Liberalization,” Finance and Development New York : IMF Publications, 1976). 9 GALBIS, V. Financial Intermediaries and Economic Growth in LDC's: A Theoretical Approach,” Journal of Development Studies, Vol. 13, No. 2 (January 1977). 10 GRANGER, C. W. J., and NEWBOLD, P. Forecasting Economic Time Series ( New York : Academic Press, 1977). 11 HARRIS, J. W. An Empirical Note on the Investment Content of Real Output and the Demand for Money in the Developing Economy,” Malayan Economic Review (forthcoming). 12 JAO, Y. C. Financial Deepening and Economic Growth: A Cross Section Analysis,” Malayan Economic Review, Vol. 21, No. 1 (April 1976). 13 KAPUR, B. Alternative Stabilization Policies for Less-Developed Economies,” Journal of Political Economy, Vol.84, No. 4, Part 1 (August 1976). 14 MCKINNON, R. I. Foreign Exchange Constraints in Economic Development and Efficient Aid Allocation,” Economic Journal, June 1964. 15 MCKINNON, R. I. Money and Capital in Economic Development ( Washington , D.C. : Brookings Publications, 1973). 16 MICHALOPOULOUS, C. Production and Substitution in Two Gap Models,” Journal of Development Studies, July 1975. 17 PRACHOWNEY, M. F. J. Small Open Economies ( Lexington , Mass. : Lexington Books, 1975). 18 SHAW, E. S. Financial Deepening in Economic Development ( New York : Oxford University Press, 1973). 19 STOUT, A. M. Foreign Assistance and Economic Development,” AID Discussion Paper No. 7 (1965). 20 STOUT, A. M. Savings, Imports, and Capital Productivity in Developing Countries,” Paper presented to First World Congress of Econometric Society (1965). 21 STROUT, A. Korea's Use of Foreign and Domestic Resources,” in Practical Approaches to Development Planning, ed. I. Adelman ( Baltimore : Johns Hopkins Press, 1969). 22 WEISSKOPF, T. E. An Econometric Test of Alternative Constraints on the Growth of Underdeveloped Countries,” Review of Economics and Statistics, Vol. 54, No. 1 (February 1972). 23 WEISSKOPF, T. E. The Impact of Foreign Capital Inflow on the Growth of Underdeveloped Countries,” Journal of International Economics, Vol. 2, No. 1 (February 1972). Citing Literature Volume17, Issue3September 1979Pages 295-306 ReferencesRelatedInformation