Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/53549 
Authors: 
Year of Publication: 
2011
Series/Report no.: 
ADBI Working Paper No. 276
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
Financial markets that function well are crucial for the long-run economic growth of a country. This paper, in the first instance, looks at how the financial development of an economy can be measured. It then traces the financial development of India through the 1990s to the present, assessing the development of each segment of financial markets. In doing so, it highlights the dualistic development of the financial sector. Finally, the paper makes an attempt to offer an explanation of this dualistic development and proposes a road map for the future development of financial markets in India.
JEL: 
E44
G18
G28
N25
Document Type: 
Working Paper

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