Paper Title
Economic Growth and The Financial Development

Abstract
During recent decades, liaison between economic growth and the financial development have allured many economists and policy makers attention, there are, however, divergent standpoints among economists and with regard to the supremacy of financial development on economic growth. This research strives to investigate about the influence of financial development on economic growth based on the real section development. Accordingly, a dynamic data panel estimated for 11 oil producer country during (1998-2015) by using GMM method. In order for the measurement of financial development index, we adopted credits given to the private section then divided it on gross domestic product. The industry value added also was used for the measurement of the real section development index. Results taken from model estimation display the positive influence of financial development on economic growth, the financial development index coefficient, however, stays on %1 negative level with regard to the granted credit growth rate difference for the private section and for the gross domestic product and the industry value added). Consequently, the growth of credits granted to the private section will abate the financial development influence on the economic growth if it is not together with the real section economy. Keywords - Financial Development, Real Section, Economic Growth, GMM Method for the Dynamic Data Panel