This paper surveys the existing literature on the determinants of household savings and credit in developing countries and examines the ways in which macro-level policies might impact on household financial behaviour.

Using three alternative models that incorporate the behavior of both credit constrained and unconstrained firms in a theoretically consistent manner, this paper presents evidence on the effects of economic liberalization of 1991 in India. Two robust conclusions emerge from the estimation of the...

This paper develops a simple and practical framework for characterizing (long-run) economic growth and fluid capital accumulation under shifting technological change. The framework specifies a technological change that depends on exogenous and endogenous factors as well as the interaction...

If bigger objects go into a jar, then there will be space to fill it with smaller objects in sequence. If the order of the objects are reversed, then it ends in filling it at the starting point. Happiness in life is similar to this. Fill high priority needs in the life, and smaller needs can be...

Just when China’s leaders receive conflicting signals of “overheating” and “below-potential growth”, they encounter tremendous external pressure to revalue the Renminbi (RMB) substantially. Our conclusion is that the major macroeconomic challenges have their roots in China’s...

Over the 1990s, Canadian businesses became more heavily dependent on financial markets as their primary source of external funding. Data display a trend towards a more market-oriented financial system. Our econometric tests suggest that this new trend started after the 1980 banking legislation...

Financial Sector Reforms in Developing Countries with Special Reference to Egypt Philip Arestis, The Levy Economics Institute of Bard College ABSTRACT Financial reforms, and financial liberalization in particular, have been at the root of many recent cases of financial and banking crises. In...

The demand for money, especially in the developing countries, is an important relationship for formulating appropriate monetary policy and targeting monetary variables. In this paper we estimate the demand for narrow money in India and evaluate its robustness. It is found that there is a stable...

The paper provides an empirical analysis of the demand for money function in Uganda. It argues that monetary policy: based on monetarist views of the dynamics of a less developed economy is, to say the least, ineffective in regulating the economy. An error correction model is used to examine the...

Do Financial accounting practices as per the political setup and their administrative strategies, pose problems to the pace of Socio-economic development of any nation ? This paper addresses this question with a preview to the dawn of human civilizations on earth, and mathematically cumulating...