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| Author: | Demetriades, P. Luintel, K. |
| Title: | The direct costs of financial representation: evidence from India |
| Journal: | Review of Economics and Statistics
1997 : MAY, VOL. 79:2, p. 311-320 |
| Index terms: | STATISTICS ECONOMICS INDIA |
| Language: | eng |
| Abstract: | This paper provides evidence that suggests that financial repression has substantial direct effects on financial development, independently of its well-known influence through the level of the real interest rate. It also demonstrates that the process of economic growth is not weakly exogenous with respect to financial development. Thus financial repression may impose real costs that are additional to those suggest by previous empirical studies. |
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