Date of Award
January 2013
Document Type
Thesis
Degree Name
Master of Science (MS)
Department
Economics & Finance
First Advisor
Daniel Biederman
Abstract
The relationship between finance and economic growth is often studied using GDP per capita growth. This paper aims to focus on the richness of human life, not the richness of the economy. Thus, the Human Development Index is used to test the relationship between financial development and human development. By focusing on a sample limited to the European Union, the many criticisms associated with the use of an index can be mitigated. At this moment there is not a universally accepted measure of financial development. Use of measures from past literature allowed for consistency with past works. The results show that financial development has a strong positive relationship with human development and that several characteristics of the financial system are highly correlated with human development.
Recommended Citation
Ostojic, Sasa, "Financial Development And Human Development In The European Union" (2013). Theses and Dissertations. 1588.
https://commons.und.edu/theses/1588