Abstract

This book mainly studies the financial development and its relationship with economic growth in transition countries including Russia，Central and Eastern European countries.Firstly，we review the literature on the relationship between financial development and economic growth，the construction of financial development evaluation index system and financial vulnerability.Secondly，by building indicators about the development of the financial sector and financial markets，the authors analyze and compare the financial development in the transition countries including the five Central and Eastern European countries （Poland，Hungary，the Czech Republic，Slovakia and Slovenia）and Russia，and with the global financial crisis as the breakpoint，investigate the evolution of financial structure in transition countries before and after the crisis and its impact on economic growth.Next，the book discusses the financial fragility and restructuring of Central and Eastern European countries and Russia.Finally，the book discusses China's economic growth and financial development process.Based on the perspective of “One Belt And One Road” initiative，it explores the main symtoms of China's financial vulnerability and puts forward several countermeasures to control financial vulnerability.