CONTRIBUTION TO RESEARCHES ON THE NATURE OF THE CONNECTION BETWEEN FINANCIAL AND REAL SECTOR

Abstract

Everything older than seven days is considered out-of-date and useless. That is why I decided to show in another paper (the one following herein) that old data are very useful for those who know how to read them, even at examining the "new" hypotheses. I have set a hypothesis to that cause that might read: "The development of the financial mediation may be used as the instrument of acceleration of development of the real sector and it is not only a passive follower of such development". Naturally, I do not deny the existence of the opposite influence at the same time (the development of the real sector carries with it the development of the financial sector), but I try to prove the existence of interactive relationship. I am going to try to prove this hypothesis with "old" data collected in the period 1960-1995 from 73 countries (the majority of the "modern economists" would wave their hand saying ("It is prehistory")). However, we confess that we have had similar researches in front of us that we are going to rely upon abundantly as we think that they are not known enough to wider expert public. Our research will be, of course, much simpler and we hope more useful as a guideline for this country. So let us start…