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Financial Structure and Economic Development: A Case of Indian Economy

Neeraj Hathekar and Sanjay Singh
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Neeraj Hathekar: Department of Economics, University of Mumbai, India
Sanjay Singh: Reserve Bank of India, Mumbai, India

Indian Economic Review, 2014, vol. 49, issue 2, 205-226

Abstract: Financial system plays an important role in mobilising financial resources for economic growth and development. Along with expansion in the financial services among various economic agents, structure of the financial system also plays an important role in deciding economic growth and volatility. Since, the Indian financial system is dominated by banks in general and scheduled commercial banks in particular, this paper analyses the impact of structure of Indian banks, (market-based intermediation, financial concentration, financial globalisation, financial buffer, etc.) on economic growth and growth volatility using econometric tools. It was found that some of the structures of the banking system do impact economic growth and its volatility significantly.

Keywords: Financial Structure; Economic Growth; Growth Volatility (search for similar items in EconPapers)
JEL-codes: C30 F65 G18 G21 (search for similar items in EconPapers)
Date: 2014
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