We have analyzed empirical relation between financial development and economic growth, using data on 10 Asian countries from 1980–2014. The study develops an index of financial development covering its two main dimensions: depth and efficiency. We have categorized the countries on region bases as East Asian and South Asian countries. By using difference GMM we find that, financial development indeed promotes growth in both region, however, the dimensions and impacts are different. Financial development facilitate growth through capital mobilization. Hence, the development of financial markets and institutions is a critical and inextricable part of the growth process. Supervisor:-Dr. Attiya Yasmin Javid