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Financial Liberalisation in India: measuring relative progress

Author

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  • Peter Lawrence

    () (Keele University Department of Economics)

  • Ibotombi Longjam

    (AMEX, India)

Abstract

This paper details and analyses aspects of the development of India’s financial sector particularly after 1990 when financial liberalization began, focusing on the ratios of private sector credit to GDP, liquid liabilities of the financial sector to GDP, commercial bank assets to total banking sector assets, and stock market capitalisation to GDP. The Indian evidence shows that though there is a general rise in the trends of all the financial indicators, liquid liabilities and private credit grow particularly slowly after financial liberalization, having stagnated during the 1980s. However, the bank assets and stock market capitalization have shown significant increases during the 1990s. The cross-country analysis shows that Indian performance in the financial sector is slow compared to the high-income and fast growing countries.

Suggested Citation

  • Peter Lawrence & Ibotombi Longjam, 2003. "Financial Liberalisation in India: measuring relative progress," Keele Economics Research Papers KERP 2003/08, Centre for Economic Research, Keele University.
  • Handle: RePEc:kee:kerpuk:2003/08
    Note: This paper is an output of Research Project R7968 The Effects of Macro-financial policy on household micro-financial behaviour’ funded by the Department for International Development (DFID) Social Science Research (formerly ESCOR). The views expressed here do not necessarily represent those of DFID.
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    File URL: http://www.keele.ac.uk/depts/ec/wpapers/kerp0308.pdf
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    Cited by:

    1. Aditi Bhattacharyya & Sudeshna Pal, 2011. "Financial Reforms and Technical Efficiency in Indian Commercial Banking: A Generalized Stochastic Frontier Analysis," Working Papers 1104, Sam Houston State University, Department of Economics and International Business.
    2. Pariwat Kanithasen & Vacharakoon Jivakanont & Charnon Boonnuch, 2011. "AEC 2015: Ambitions, Expectations and Challenges ASEAN's Path towards Greater Economic and Financial Integration," Working Papers 2011-03, Monetary Policy Group, Bank of Thailand.
    3. repec:eco:journ1:2017-05-48 is not listed on IDEAS

    More about this item

    Keywords

    Financial development indicators; financial reforms; financial deepening;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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