Un Regard Épistémique sur la Relation entre le Développement Financier et la Croissance Économique

Abstract

This article examines the evolution of financial systems from the Middle Ages to the present, focusing on the shift from financial repression to liberalization and its historical and paradigm changes. It analyzes the limited impact of these financial reforms on economic growth, particularly in developing countries like Madagascar.

The findings indicate that, despite the transition from financial repression to liberalization leading to some improvements, these reforms are insufficient to alleviate poverty.

The article suggests that developing models incorporating local specifics could enhance financial policies and better support economic growth.