Munich Personal RePEc Archive

Does Financial Outreach Engender Economic Growth? Evidence from Indian States

Ghosh, Saibal (2009): Does Financial Outreach Engender Economic Growth? Evidence from Indian States. Published in: Journal of Indian Business Research , Vol. 3, No. 2 (April 2011): pp. 74-99.

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Abstract

The paper makes a systematic attempt to ascertain the nexus between finance and growth at the sub-national level for an emerging economy. Using data on major states in India for 1973 to 2004, the analysis indicates significant regional divergences in financial outreach across states, as also in terms of their income characteristics. As well, while indicators of financial outreach have exhibited improvements, their relationship with growth appears to have become tenuous, especially over the reforms period.

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