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[Publisher:] Institut für Weltwirtschaft (IfW) [Place:] Kiel [Year:] 1987
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Kiel Working Paper No. 300
Kiel Institute of World Economics (IfW), Kiel
In most developing countries financial markets are still highly fragmented and dualistic (Nunnenkamp 1985, p. 20). This is considered as a hindering factor to economic development. The rationale behind this is the view shared by most economists that a higher level of financial integration c.p. lowers intermediation costs, encourages competition and improves the allocation of loanable funds throughout the economy.
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Working Paper
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Digitized Version

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