Innovation and Growth: Role of the Financial Sector

Rakesh Mohan

Working Papers from eSocialSciences

Abstract: A brief overview is provided about India’s long-term growth performance. Then an attempt is made to set out the conditions for successful innovations. To assess the role of innovations in the Indian economy, the estimated contributions of productivity gains to real GDP growth is explained. Then the focus is given on the role of financial sector reforms in contributing to innovation and growth. Finally, an outline of the role of monetary policy in sustaining growth and innovations by ensuring price and financial stability. [Bharti Annual Lecture at the Entrepreneurship Development Institute of India, Ahmedabad].

Keywords: Financial sector; supply; GDP growth; monetary policy; Indian economy; India; innovation; growth; development; productivity gains; price; financial stability; long-term growth; real; economic growth; inflation; GDP Growth Per capita; environment; entrepreneurship; Market Information; Surveys of Households (MISH); industrial organization; technologies; rural sector (search for similar items in EconPapers)
Date: 2008-04
Note: Institutional Papers
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