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Finance and Growth: An Empirical Assessment of the Indian Economy

Author

Listed:
  • Basudeb Guha-Khasnobis
  • Pranab K. Das

Abstract

This study is an attempt towards an integration of financial development and its effect on the real sector via the transmission mechanism with special reference to developing and emerging market economies. It finds two cointegrating relations between the financial development, output growth and allocation of credit which makes sense from the standpoint of economic theory. The paper also addresses the issue of causality between finance and growth for the aggregate and broad sectors of the economy.

Suggested Citation

  • Basudeb Guha-Khasnobis & Pranab K. Das, 2007. "Finance and Growth: An Empirical Assessment of the Indian Economy," WIDER Working Paper Series RP2007-13, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:rp2007-13
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    File URL: https://www.wider.unu.edu/sites/default/files/rp2007-13.pdf
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