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The Direct Costs Of Financial Repression: Evidence From India

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Author Info
Panicos O. Demetriades
Kul B. Luintel

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Abstract

This paprovides evidence that suggests that financial repression has substantial direct effects on financial development, independently of its well - known influence through the level of the real interest rate. It also demonstrates that the process of economic growth is not weakly exogenous with respect to financial development. Thus financial repression may impose real costs that are additional to those suggested by previous empirical studies. © 2000 by the President and Fellows of Harvard College and the Massachusetts Institute of Technolog

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Publisher Info
Article provided by MIT Press in its journal The Review of Economics and Statistics.

Volume (Year): 79 (1997)
Issue (Month): 2 (May)
Pages: 311-320
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Handle: RePEc:tpr:restat:v:79:y:1997:i:2:p:311-320

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This page was last updated on 2009-11-16.

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