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Government Intervention and Financial Sector Development

In: Development Finance

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  • Rashmi Arora

    (University of Bradford)

Abstract

Government interventions in the financial sector have prevailed in a number of countries until the early 1990s. Criticisms against financial repression and poor performance of public banks, however, turned the tide against government intervention. As a result, the 1990s saw the introduction of financial sector reforms in several developing countries with the objectives of improving allocative efficiency of the financial institutions and financial markets. However, the recent global financial crisis has led to a resurgent interest on the role that governments can play in the financial sector. Overall the academic literature has not reached a consensus on whether the government can play a positive or negative role. Nonetheless, the findings of the emerging literature focus on the positive countercyclical role played by the public banks during crises times and on the government’s useful role in supervision and regulation, in building financial infrastructure and in promoting macroeconomic stability.

Suggested Citation

  • Rashmi Arora, 2017. "Government Intervention and Financial Sector Development," Palgrave Studies in Impact Finance, in: Gianluigi Giorgioni (ed.), Development Finance, chapter 3, pages 53-78, Palgrave Macmillan.
    • Handle: RePEc:pal:psifcp:978-1-137-58032-0_3
    DOI: 10.1057/978-1-137-58032-0_3
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    Cited by:

    1. Mary Oforo & Crispin John Mbogo, 2023. "Challenges Facing Savings and Credit Cooperative Societies in Debts Collection in Tanzania," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(3), pages 630-647, March.

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