1st Edition

Finance and Economic Growth in Developing Countries




ISBN 9780415847667
Published February 28, 2013 by Routledge
258 Pages

USD $52.95

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Book Description

First published in 1984, this study analyses contemporary research into the role of financial development as a means of accelerating the economic growth of developing countries. The author analyses both the ‘financial structuralist’ and ‘financial repressionist’ schools of thought in order to determine both the direction of causality between financial and real growth and the accuracy of the repressionists’ assertion that real interest rates and their stability do matter in the economies of developing countries.

Table of Contents

1. Introduction  2. A Review of Theoretical and Empirical Literature  3. Financial and Real Development-Causality Tests  4. Evidence on Financial Repression  5. Descriptive Indicators of Finance and Growth  6. Aggregate Savings, Financial Intermediation, and Interest Rate  7. Structure of Savings, Financial Intermediation, and Interest Rate  8. A Model of Finance and Growth  9. Estimates, Stability and Goodness of Fit  10. Further Analysis of the Estimated Model  11. Costs of Financial Repression and Benefits of Financial Liberation: Some Simulation Results  12. Conclusions

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