There is a vast body of literature estimating the impact of financial development on economic growth, inequality, and economic stability. A typical empirical study approximates financial development with either one of two measures of financial depth – the ratio of private credit to GDP or stock market capitalization to GDP. However, these indicators do not take into account the complex multidimensional nature of financial development. The contribution of this paper is to create nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are then aggregated into an overall index of financial development. With the coverage of 183 countries on annual frequency between 1980 and 2013, the database should offer a useful analytical tool for researchers and policy makers. A large body of literature has developed to assess the impact of financial development on economic growth, inequality, and economic stability (see Levine, 2005, Demirgüç-Kunt and Levine, 2009, and Dabla-Norris and Srivisal, 2013 for respective literature surveys). Financial development involves improvements in such functions provided by the financial systems as: (i) pooling of savings; (ii) allocating capital to productive investments; (iii) monitoring those investments; (iv) risk diversification; and (v) exchange of goods and services (Levine, 2005). Each of these financial functions can influence saving and investment decisions and the efficiency with which funds are allocated. As a result, finance affects the accumulation of physical and human capital and total factor productivity – the three factors that determine economic growth. To the extent that financial development reduces informational asymmetries and financial constraints and promotes risk sharing, it can enhance the ability of financial systems to absorb shocks and reduce the amplification of cycles through the financial accelerator (Bernanke, Gertler, and Gilchrist 1999), lowering macroeconomic volatility and inequality.