Heavy metals like arsenic, copper, cadmium, chromium, nickel, zinc, lead, and mercury are major pollutants of fresh water reservoirs because of their toxic, non‐biodegradable, and persistent nature. The industrial growth is the major source of heavy metals introducing such pollutants into different segments of the environment including air, water, soil, and biosphere. Heavy metals are easily absorbed by fishes and vegetables due to their high solubility in the aquatic environments. Hence, they may accumulate in the human body by means of the food chain. Various methods have been developed and used for water and wastewater treatment to decrease heavy metal concentrations. These technologies include membrane filtration, ion‐exchange, adsorption, chemical precipitation, nanotechnology treatments, electrochemical and advanced oxidation processes. In this review, the methods as well as their mechanisms and efficiency are discussed.

The positive effects of financial development on economic growth have encouraged researchers to study the determinants of financial development. Based on the theoretical and empirical studies undertaken, institutions, openness of trade and financial markets, legal tradition, and political economy are identified as factors promoting the financial system. Of these, political economy factors, which can have both direct and indirect effects through other determinants, could be considered the most influential factors in financial development. Variations in the political economy of countries could well explain variations in their financial development. Although all studies show the significant effects of these determinants on financial development, further research is needed to assess the impact of each determinant and the policies that could best promote financial development.

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