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Proceedings of the German Development Economics Conference, 2009 (Frankfurt a.M.) >
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http://hdl.handle.net/10419/39917
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| Title: | | Financial Fragmentation despite Arbitrage  |
| Authors: | | Klonner, Stefan Rai, Ashok S. |
| Issue Date: | | 2009 |
| Series/Report no.: | | Proceedings of the German Development Economics Conference, Frankfurt a.M. 2009 19 |
| Abstract: | | If there were no impediments to the flow of capital across space, then interest rates would equalized. We provide evidence to the contrary. We find significant differences in interest rates across the South Indian state of Tamil Nadu, i.e. evidence that financial markets are fragmented. We also find evidence of limited arbitrage across financial markets. |
| Subjects: | | credit constraints informal finance |
| JEL: | | O16 G21 |
| Document Type: | | Conference Paper |
| Appears in Collections: | | Proceedings of the German Development Economics Conference, 2009 (Frankfurt a.M.)
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