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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
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. Petia Topalova, 2008. "India; Is the Rising Tide Lifting All Boats?," IMF Working Papers 08/54, International Monetary Fund.
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  15. Saibal Ghosh, 2012. "Determinants Of Banking Outreach: An Empirical Assessment Of Indian States," Journal of Developing Areas, Tennessee State University, College of Business, vol. 46(2), pages 269-295, July-Dece.
  16. Beck, Thorsten & Demirguc-Kunt, Asli & Martinez Peria, Maria Soledad, 2005. "Reaching out : access to and use of banking services across countries," Policy Research Working Paper Series 3754, The World Bank.
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  18. Nachane, D M & Ray, P & Ghosh, S, 2001. "Does monetary policy have differential state-level effects? an empirical evaluation," MPRA Paper 2708, University Library of Munich, Germany.
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  21. Robert J Barro, 1999. "Determinants of Economic Growth: Implications of the Global Evidence for Chile," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 36(107), pages 443-478.
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