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Innovation and Growth: Role of the Financial Sector

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  • Rakesh Mohan

Abstract

A brief overview is provided about India’s long-term growth performance. Then an attempt is made to set out the conditions for successful innovations. To assess the role of innovations in the Indian economy, the estimated contributions of productivity gains to real GDP growth is explained. Then the focus is given on the role of financial sector reforms in contributing to innovation and growth. Finally, an outline of the role of monetary policy in sustaining growth and innovations by ensuring price and financial stability. [Bharti Annual Lecture at the Entrepreneurship Development Institute of India, Ahmedabad].

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  • Rakesh Mohan, 2008. "Innovation and Growth: Role of the Financial Sector," Working Papers id:1453, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:1453
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    File URL: http://www.eSocialSciences.com/data/articles/Document1342008110.9152643.pdf
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    References listed on IDEAS

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    1. Barry Bosworth & Susan M. Collins, 2008. "Accounting for Growth: Comparing China and India," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 45-66, Winter.
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