Financial Repression and the Liberalisation Problem within Less-Developed Countries

Ronald McKinnon and Sven Grassman

Chapter 10 in The World Economic Order, 1981, pp 365-390 from Palgrave Macmillan

Abstract: Abstract In less-developed countries, open markets for common stocks, bonds, mortgages, or even commercial bills are insignificant. This does not constitute a ‘distortion’, but merely reflects low per capita income and the resulting small scale of individual acts of saving and investment. Information is insufficient to have small farmers or merchants issue their own notes or shares that are publicly traded.

Keywords: Central Bank; Banking System; Commercial Bank; Saving Bank; Nominal Rate (search for similar items in EconPapers)
Date: 1981
References: Add references at CitEc
Citations: View citations in EconPapers (4)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-16488-2_11

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349164882

DOI: 10.1007/978-1-349-16488-2_11

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().