Characteristics of financial markets development inter alia include:  a)  Size of financial institutions and markets (financial depth)  b)  Degree to which individuals can and do use financial institutions and markets (access)  c)  Efficiency of financial institutions and markets in providing financial services (efficiency), and  d)  Stability of financial institutions and markets (stability)  12.
Market development is also dependent on the structure of the market and preference of savers for intermediation. In Asian economies there is a marked preference for bank intermediation. Bank-based finance has a special role to play for many economies in need of capital, and thus helps to ensure a well-balanced growth process.