Why is the size of finance increasing?

Finance is what transforms savings into investments; we can measure its size as that of the assets (equities, bonds, loans) that carry out this transformation. We then see that the size of global finance has increased significantly. Why? In principle, the size of global finance should be quite stable, equal to that of investments or cumulative savings. The causes of the increase in the size of global finance are primarily: The increase in public debt, which makes it necessary to transform household savings into public debt. If there was no public debt, there would also be less cumulative household savings; In OECD countries, until the 2008 crisis, the existence of corporate investment financed by debt and a real estate bubble also financed by debt, which increased both the debt and the accumulated savings; I n China, given the very high level of savings and the controls on capital outflows, the increase in domestic debt that merely reflects the national savings that must be lent to other Chinese; Within finance, the growing weight of debt is a result of expansionary monetary policies that, due to the low interest rates, leads to a preference for debt financing over equity financing.