Influence of the financial sector on economic development

Artūras Balkevičius

Abstract


An overview of Lithuania’s financial sector analyses the evolution, structure and influence on economic development. The banking sector is the focus, as it is currently the most important link in the chain of financial intermediation, with the greatest weight in the financial sector. It also analyses the bank product supply and demand among the Lithuanian economic entities, interest rates and influence of banks on the development of economic activity. The Article also analyses the influence of the financial crisis on the Lithuanian financial sector and the economy as well as the impact on individual sectors of the economy. It discusses possible future developments in the financial sector, maintaining and improving the regulatory perspective. The article talks about the need for harmony in the financial sector and economic development.

Keywords


financial sector; banks; banking sector efficiency; economic development

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"Business Systems & Economics" ISSN online 2029-8234