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Title: Rise and fall of industrial finance in India
Authors: Ray, Partha
Keywords: National Accounts Statistic
Balance of Payments Crises
Indian Economy
Issue Date: 2015
Publisher: SCOPUS
Economic and Political Weekly
Economic and Political Weekly
Series/Report no.: 50(5)
Abstract: Examining the sources of finance for Indian industry, this paper traces the transition from a state-owned and state-dictated financial sector to a regime of financial liberalisation. There are still a number of rough edges to this transition. With the initiation of financial sector reforms and the demise of development banking, there are indications that the industrial sector faces a credit crunch. While newer sources of finance could have compensated for the paucity of bank financing, the exit of development banks before establishing a successful corporate debt market has turned out to be costly for long-term financing. In this context, the experience of the Brazilian Development Bank could serve as a useful model for India.
Description: Ray, Partha, Indian Institute of Management Calcutta, India
ISSN/ISBN - 00129976
Appears in Collections:Economics

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