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1. Introduction 2. Brief Historical Development of Financial System 2.1 Primitive Phase of Formal Financial System (1937-1956) 2.2 Controlled and Regulatory Phase (1956-1984) 2.3 Modern Liberalized Phase (1984 onwards) 3. Structure of the Financial System 4. Financial Sector Performance 4.1 Institutional Development of Bank and non-Bank Financial System 4.2 Monetary Expansion 4.3 Financial Intermediaries and Economic Growth 4.4 Capital Market Development 5. Preliminary Empirical Analysis 5.1 Unit Root Test 5.2 OLS Estimation 5.3 Causality Test 6. Conclusions
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