金融业和经济发展的关系【外文翻译】

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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.IbrahimTheWorldBankEconomicReview3TheConnectionBetweentheCapitalMarketandDevelopmentCasualobservationsuggeststhatanefficientfinancialsystem

2、isoneofthesalientprerequisitespromotingacountry'seffectivedevelopmentandcompetitiveness,orasinthecaseoffinancialsystemdistortions,amajorimpediment.Amongthecomponentsadvancingacountry'swelfare,capitalallocation,intertemporalsmoothening,andrisksharingarecontinuouslycited.Conversely,marketlossesat

3、majorstockexchangesatthebeginningofthenewmillenniumdemonstratedthepotentiallyvolatileimpactsoffinancialsystemsondevelopmentandchallengedeconomicpoliciesonnationalandinternationallevels.Severaldivergingtheoreticalconceptsandempiricalstudieshaveinvestigatedwhetheranexusbetweenfinanceandeconomicgr

4、owthorfinanceandeconomicdevelopmentactuallydoesexist.Yet,themainfocusofresearchhasbeentoanaliysetheimpactofthefinancesectorongrowthoroneconomicdevelopment,andinparticular,theroleofbanksandstockmarketstherein.Otheraspects,albeittheycouldbeconsideredimportantforanoverarchingdevelopmentpointofview

5、,havebeenonlypartiallyincluded,amongthemtheversatilereciprocalrelationshipoffinanceanddevelopmentandacapitalmarketperspectivecoveringbothstockandbondmarkets.Themainobstacletoconstructingacomprehensivemodelofthefinance-growthorfinance-developmentlinkageconsistsofthecomplexcausalitiesbetweenfinan

6、ceandeconomicactivity,nottomentionthebroaderscopeofdevelopmentalapproachesthatintegratesocialandenvironmentaldimensions.Havingtheseconsiderationsinmind,thisworkwillproceedwdthbriefnotesonsomeessentialaspectswhichformthebasisofanyfinancialsystemdesign(Chapter3.1)andanoutlineoftheoreticalconcepts

7、andempiricalstudiespertinenttothefinanceandeconomicgrowthorfinanceandeconomicdevelopmentlinkage(Chapter3.2).Thereafter,alookatthecapitalmarketanddevelopmentconnectionfollows.China'speculiarities,aboveallitshighlydynamicdevelopment