金融业和经济发展的关系[文献翻译]

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1、本科毕业论文外文翻译外文题目：Financialandeconomicdevelopmentrelations出处：TheWorldBankEconomicReview作者：MansorH.Ibrahim原文：FinancialandeconomicdevelopmentrelationshipMansorH.IbrahimTheWorldBankEconomicReview3TheConnectionBetweentheCapitalMarketandDevelopmentCasualobservationsuggeststhatanefficientfinan

2、cialsystemisoneofthesalientprerequisitespromotingacountry'seffectivedevelopmentandcompetitiveness,orasinthecaseoffinancialsystemdistortions,amajorimpediment.Amongthecomponentsadvancingacountry'swelfare,capitalallocation,intertemporalsmoothening,andrisksharingarecontinuouslycited.Conve

3、rsely,marketlossesatmajorstockexchangesatthebeginningofthenewmillenniumdemonstratedthepotentiallyvolatileimpactsoffinancialsystemsondevelopmentandchallengedeconomicpoliciesonnationalandinternationallevels.Severaldivergingtheoreticalconceptsandempiricalstudieshaveinvestigatedwhetherane

4、xusbetweenfinanceandeconomicgrowthorfinanceandeconomicdevelopmentactuallydoesexist.Yet,themainfocusofresearchhasbeentoanaliysetheimpactofthefinancesectorongrowthoroneconomicdevelopment,andinparticular,theroleofbanksandstockmarketstherein.Otheraspects,albeittheycouldbeconsideredimporta

5、ntforanoverarchingdevelopmentpointofview,havebeenonlypartiallyincluded,amongthemtheversatilereciprocalrelationshipoffinanceanddevelopmentandacapitalmarketperspectivecoveringbothstockandbondmarkets.Themainobstacletoconstructingacomprehensivemodelofthefinance-growthorfinance-development

6、linkageconsistsofthecomplexcausalitiesbetweenfinanceandeconomicactivity,nottomentionthebroaderscopeofdevelopmentalapproachesthatintegratesocialandenvironmentaldimensions.Havingtheseconsiderationsinmind,thisworkwillproceedwdthbriefnotesonsomeessentialaspectswhichformthebasisofanyfinanc

7、ialsystemdesign(Chapter3.1)andanoutlineoftheoreticalconceptsandempiricalstudiespertinenttothefinanceandeconomicgrowthorfinanceandeconomicdevelopmentlinkage(Chapter3.2).Thereafter,alookatthecapitalmarketanddevelopmentconnectionfollows.China'speculiarities,aboveallitshighlydynamicdevelo

8、pment