The Role of Financial Institutions in Economic Development

Abstract

I appreciate this opportunity to share with you my thoughts about a topic of mutual interest to us—the financial industry and its impact on economic development. I will argue that the Southwest regional economy, as well as the national economy, will be more prosperous in the decade ahead if certain reforms are implemented to establish a sound and efficient banking system. In turn, an individual bank’s performance is tied to the long-term growth and stability of the market area it serves.