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Financial and Social Growth Support Each other

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Asia is a hotspot of growth and researchers are trying to figure out how this growth was realized. The researchers Pradhan, et. al (2013), reviewed 15 Asian countries from 1961 to 2011 to determine the causal nexus between financial development, social development and economic growth.   They hoped to understand how these factors work together in terms of fostering growth within their target countries.  Financial services offer help in terms of moving capital to growth markets. As countries growth they continually seek higher levels of outside resources to perpetuate this growth. Financial institutions help in transferring wealth from other locations into faster growth markets that can realize greater profit.   Financial institutions help in the process of financial transfers.  These financial services also create opportunities for financing, investing in the form of stocks, and the secure holding of money. A well-established financial market maintains a level of operatio