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Finacial sector and other sectors of the economy

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The Overview of the Place of Financial Institution and Markets in an economy.
Students Name:Ali Abdallah mohamed
Course Code:Fin4040B
ID number:656834
Date of submission:28th May 2021

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INTRODUCTION.
The economy has been subdivided by Economist into different sectors of are primarily
divided into these areas: the quaternary sector, secondary sector, primary sector, and tertiary
sector. The primary sector includes the natural resources like minerals, land and agriculture,
secondary sector includes construction, production and processing, the tertiary sector include
entertainment, retail and service industry and finally the quaternary sector which include
education, knowledge and intellectual services like consulting, accounting e.t.c. The financial
sector on the other hand is broadened into specific industries such as banks, insurance
companies, investment companies and banks, and real estate’s firms. The financial sector
provides the monetary and advisory services and resource required to activate and achieve the
objectives of the factors of production; Land, Labor, Capital and Entrepreneurship. The
industries in the finance sector provide financial services to commercial and retail customers and
it is my opinion that a financial sector that is 'strong and vibrant' is a measure of healthy
economy.
RELATIONSHIP BETWEEN THE FINNACIAL SECTOR AND OTHER SECTORS OF
THE ECONOMY.
The relationship that exists between economic developments and growth and financial
sector development is an issue with different opinions. Some people take financial sector as an
important factor of different sectors and overall economic growth (Schumpeter, 1934;
Goldsmith, 1969; McKinnon, 1973; Shaw, 1973), while other authors think that financial sector
is just but a minor part of economic growth (Robinson, 1952; Lucas, 1988). According to
Schumpeter (1934), the financial sector especially the banking industry is the engine of economy
because of its big pools of funding for different sectors of the economy. Lucas (1988), insisted on

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The Overview of the Place of Financial Institution and Markets in an economy. Students Name:Ali Abdallah mohamed Course Code:Fin4040B ID number:656834 Date of submission:28th May 2021 INTRODUCTION. The economy has been subdivided by Economist into different sectors of are primarily divided into these areas: the quaternary sector, secondary sector, primary sector, and tertiary sector. The primary sector includes the natural resources like minerals, land and agriculture, secondary sector includes construction, production and processing, the tertiary sector include entertainment, retail and service industry and finally the quaternary sector which include education, knowledge and intellectual services like consulting, accounting e.t.c. The financial sector on the other hand is broadened into specific industries such as banks, insurance companies, investment companies and banks, and real estate’s firms. The financial sector provides the monetary and advisory services and resource required to activate and achieve the objectives of the factors of production; Land, Labor, Capital and Entrepreneurship. The industries in the finance sector provide financial services to commercial and retail customers and it is my opinion that a financial sector that is 'strong and vibrant' is a measure of healthy economy. RELATIONSHIP BETWEEN THE FINNACIAL SECTOR AND OTHER SECTORS OF THE ECONOMY. The relationship that exists between economic developments and growth and financial sector development ...
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