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Does Financial Outreach Engender Economic Growth? Evidence from Indian States

  • Ghosh, Saibal

The paper makes a systematic attempt to ascertain the nexus between finance and growth at the sub-national level for an emerging economy. Using data on major states in India for 1973 to 2004, the analysis indicates significant regional divergences in financial outreach across states, as also in terms of their income characteristics. As well, while indicators of financial outreach have exhibited improvements, their relationship with growth appears to have become tenuous, especially over the reforms period.

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File URL: https://mpra.ub.uni-muenchen.de/32072/1/MPRA_paper_32072.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 32072.

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Date of creation: 2009
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Publication status: Published in Journal of Indian Business Research 2.3(2011): pp. 74-99
Handle: RePEc:pra:mprapa:32072
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  1. Thorsten Beck, 2004. "The determinants of financing obstacles," Policy Research Working Paper Series 3204, The World Bank.
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  5. Ghosh, Saibal, 2011. "Determinants of banking outreach: An empirical assessment of Indian states," MPRA Paper 38650, University Library of Munich, Germany.
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  16. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  17. Kendall, Jake & Mylenko, Nataliya & Ponce, Alejandro, 2010. "Measuring financial access around the world," Policy Research Working Paper Series 5253, The World Bank.
  18. Rayaprolu Nagaraj & Aristomène Varoudakis & Marie-Ange Véganzonès, 1998. "Long-Run Growth Trends and Convergence Across Indian States," OECD Development Centre Working Papers 131, OECD Publishing.
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