Financial development and economic growth in India: 1970-1971 to 1998-1999

Prabir C. Bhattacharya, M. N. Sivasubramanian

    Research output: Contribution to journalArticle

    36 Citations (Scopus)

    Abstract

    This paper examines the causal relationship between financial development and economic growth in India for the period 1970-1971 to 1998-1999, using the techniques of unit root and cointegration analysis. The results show that, for the period under consideration, it is M3, representing financial sector development, which led GDP and not the other way around.

    Original languageEnglish
    Pages (from-to)905-909
    Number of pages5
    JournalApplied Financial Economics
    Volume13
    Issue number12
    DOIs
    Publication statusPublished - Dec 2003

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