1 Financial development and economic growth: A review of the literature / Pham Thi Thuy Diem, Nguyen Trong Hoai // Phát triển & Hội nhập .- 2020 .- Số 55(65) .- P. 109-116 .- 332.1

This paper reviews theoretical perspectives and summarizes the systematic review of empirical evidence on the connection between financial development and economic growth. The theories implies that better developed financial system has a positive influence on savings and investment decisions and hence lead to economic growth. The empirical studies also show that an economy has a higher growth-enhancing effect closer to the well-developed financial market, hence provide strong support to the proposition that more finance lead to more growth. However, some empirical studies have pronounce.