Financial development and economic growth: Views and agenda

I thank, without implicating, Gerard Caprio, Maria Carkovic, David Cole, Robert Cull, William Easterly, Mark Gertler, Fabio Schiantarelli, Mary Shirley, Bruce Smith, and Kenneth Sokoloff for criticisms, guidance, and encouragement. This paper teas written while I was at the World Bank. Opinions expressed are those of the author and do not necessarily reflect the views of the World Bank, its staff, or member countries. Does finance make a difference...? Raymond Goldsmith (1969, p. 408).