The article presented an argument at the beginning that the financial development could have a positive influence on the economic development. Therefore Robert G. King and Ross Levine proposed an experiment for this hypothesis. The objective of the experiment is to examine whether the financial development has a strong correlation with the economic growth, physical capital accumulation, and economic efficiency improvements. They collected the data from 1960 to 1989 on over 80 countries. To start the experiment, they need quantifying the "financial development” to make it detailed. Also, it's generally known that no matter how the indicator is designed, it will always has its limitation. Therefore, they construct four representative indicators aims to measure the financial development in different aspects, such as the size of financial sector development, relative importance of specific financial institutions which are central bank and deposit money bank, and domestic asset distribution. The four indicators include the ratio of liquid liabilities of the......

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