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India

In: Emerging Banking Systems

Author

Listed:
  • S. Chiarlone
  • S. Ghosh

Abstract

After three post-independence decades of inadequate progress, India grew at 6 per cent per annum from 1980 to 2002 and at 7.6 per cent from 2002 through 2007. Its rising path has been unique: rather than exporting labour-intensive, low-priced manufactured goods, India relied on its domestic market more than on exports, consumption more than investment, services more than industry and high-tech more than low-skilled manufacturing. Moreover, 30–40 per cent of GDP growth depends on rising productivity rather than on increases in the amount of capital or labour (Rodrik and Subramanium, 2005). Bosworth and Collins (2007) document that, over the period 1993–2004, 2.3 per cent of the growth (out of a total of 6.5 per cent) was accounted for by productivity changes. This suggests that India’s reform processes has been able to obtain results in terms of better incentives and competition, inducing improvements in productivity.

Suggested Citation

  • S. Chiarlone & S. Ghosh, 2009. "India," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Paola Bongini & Stefano Chiarlone & Giovanni Ferri (ed.), Emerging Banking Systems, chapter 3, pages 56-78, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-58434-1_3
    DOI: 10.1057/9780230584341_3
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    Other versions of this item:

    • Chairlone, Stefano & Ghosh, Saibal, 2009. "India," MPRA Paper 17402, University Library of Munich, Germany.

    References listed on IDEAS

    as
    1. Beck, Thorsten & Demirguc-Kunt, Asli & Martinez Peria, Maria Soledad, 2007. "Reaching out: Access to and use of banking services across countries," Journal of Financial Economics, Elsevier, vol. 85(1), pages 234-266, July.
    2. Robin Burgess & Rohini Pande, 2005. "Do Rural Banks Matter? Evidence from the Indian Social Banking Experiment," American Economic Review, American Economic Association, vol. 95(3), pages 780-795, June.
    3. Abhiman Das & Saibal Ghosh, 2006. "Financial deregulation and efficiency: An empirical analysis of Indian banks during the post reform period," Review of Financial Economics, John Wiley & Sons, vol. 15(3), pages 193-221.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Commercial Bank; Foreign Ownership; Private Bank; Foreign Bank; Statistical Table;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    Statistics

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