Correa, Romar; Rao, Tripati - In: International Review of Applied Economics 18 (2004) 3, pp. 289-299
The case for financial liberalisation is founded on the neoclassical proposition that savings causes investment and that the interest rate tends to move to equate the two. We find little support for this thesis from the experience of India. Alternatively, we suggest that the Post Keynesian...