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The role of the financial system in the economic development of Jordan

Salah, Jamal Mohammad

The role of the financial system in the economic development of Jordan Thumbnail


Jamal Mohammad Salah


Jordan is a case of a developing country where priority has been given at the official level to domestic financial intermediation as one major instrument by which to attain the economy's development objectives. This policy preference conforms with recent trends in economic literature that emphasise the significance of financial institutions in economic development and the necessity of proper adaptation of these institutions, which were largely created prior to independence, to the particular post-colonial environment within which they have now to operate and to facilitate the required structural charge.
The main objectives of this thesis are to analyse the structure and performance of the financial system in Jordan and examine whether its operations have been consistent with the country's development strategy. For this purpose, the study investigates three major areas of interest: -
(1) Analysing the structure and operations of different types of domestic financial institutions.
(2) Assessing their performance in the context of economic development, showing how well their activities have coincided with the defined development objectives. (3) Specifying certain policies and procedures where financial innovation can take place to improve the operational efficiency of the system and to enlarge its contribution to real economic growth.
It is hoped that the particular issues identified as being of crucial importance for the Jordanian economy and the policy solutions put forward will be a contribution to economic knowledge of the role of the financial intermediation process in economic development.

Publication Date Sep 1, 1979


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