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© 2002 Monetary Authority of Macau Financial Development and Economic Growth in Macau

By Ho Ngai Wa


Following the discussion on the institutional structure and the development of Macau’s financial system in the paper entitled “Finance and Growth: the Case of Macau ” in the last issue of AMCM Quarterly Bulletin, this paper further explores the relationship between economic growth and financial development in Macau. While it is recognized that the local financial system has experienced an impressive expansion over the past decades, its role of financial intermediaries in economic development ought to be distinguished. Moreover, financial innovation has brought about a number of significant changes in the banking market, which, to some extent, may alter the standard concept of banks ’ intermediary function

Year: 2011
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