Financial Development in Emerging Markets: The Indian Experience

K. P. Krishnan
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K. P. Krishnan: Asian Development Bank Institute (ADBI)

Macroeconomics Working Papers from East Asian Bureau of Economic Research

Abstract: Financial markets that function well are crucial for the long-run economic growth of a country. This paper, in the first instance, looks at how the financial development of an economy can be measured. It then traces the financial development of India through the 1990s to the present, assessing the development of each segment of financial markets. In doing so, it highlights the dualistic development of the financial sector. Finally, the paper makes an attempt to offer an explanation of this dualistic development and proposes a road map for the future development of financial markets in India.

Keywords: financial development; Emerging Markets; India; financial markets (search for similar items in EconPapers)
JEL-codes: E44 G18 G28 N25 (search for similar items in EconPapers)
Date: 2011-04
New Economics Papers: this item is included in nep-mac
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