Explain how financial system of a country helps in economics development country ?
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These sectors influence a nation's currency and interest rates. In developed countries, they work together to promote growth and avoid runaway price inflation. When a country is still in a developing stage, the lack of a strong, sound financial systemgenerally works against the national economy.
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Financial system promotes capital market. A dynamic capital market is capable of attracting funds both from domestic and abroad. With more capital, investment will expand and this will speed up the economic development of a country. Financial systems of different countries are capable of promoting economic integration.
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