In Favour of Financial LKiberalisation

M. Fry

Working Papers from University of Birmingham - International Financial Group

Abstract: Many developing country governmentfind it virtually impossible to satisfy their inter-temporal budget constraint with conventional tax revenu. Hence they rely on revenue from the inflation tax and they reduce their interest costs through financial repression. Both the theory and evidence reported in this paper indicate that financial repression reduces economic growth.

Keywords: FINANCIAL POLICY; FINANCIAL MARKET (search for similar items in EconPapers)
JEL-codes: F21 F32 (search for similar items in EconPapers)
Pages: 17 pages
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:fth:birmif:96-04

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