The Role of the Financial Sector in Economic Development

This article analyzes the importance of the financial sector in the economy. The financial sector plays a number of important roles that are seen as an integral part of the economy. In addition, the increasing global cash flows today highlight the relevance of this study. The article analyzes the volume of global cash flows on the basis of statistical data. The tasks of the financial sector are outlined. Based on these tasks, the impact on the economy is analyzed. Scientific conclusions have also been drawn from various econometric analyzes.

Keywords: finance, financial sector, cash flows, economic growth, economic development, fiscal policy, monetary policy,