Financial Development and Economic Growth in a Less-Developed Country: Sudan, 1960-1988

There has been a marked resurgence of academic interest on the theory of finance and growth in Less Developed Countries (LDCs) over the last two decades. It is currently more widely believed among economists that the development of the financial and capital markets of a developing country would enhance the growth of its real economic activities. Meanwhile, with external capital increasingly running short of LDCs1 expectations, reliance on domestic sources of finance is becoming more critical than ever before