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FINANCIAL SECTOR

Statistics Directorate    
Definition:
The financial sector is the set of institutions, instruments, and the regulatory framework that permit transactions to be made by incurring and settling debts; that is, by extending credit.

Context:
The financial system makes possible the separation of the ownership of wealth from the control of physical capital. As an economy develops, the financial sector deepens, strengthens and widens: terms that refer to the increase in the nature and number of financial instruments, the interrelationship and sophistication of financial institutions, and the geographical penetration and extent of financial markets (for short, financial sector development).

Source Publication:
Alexander, P., Baden, S., 2000, Glossary on macroeconomics from a gender perspective, Institute of Development Studies, University of Sussex + investopedia.com.

Hyperlink:
http://www.investopedia.com/terms/f/financial_sector.asp

Statistical Theme: Financial statistics

Created on Tuesday, July 19, 2005

Last updated on Friday, June 14, 2013