In the light of the recent observation that the relationship between financial development and economic growth is one … construct index of financial development comprising alternative measures of financial development. The analysis has been carried … out for the period 1990–2010. The results of Toda–Yamamoto and Diks–Panchenko tests reveal that financial development and …

Purpose - Though an accumulating body of study has analysed monetary policy transmission in India, there are few … level in India. Design/methodology/approach - The study develops a structural macroeconometric model, which is primarily …, the study highlighted the relative importance of the income absorption approach as opposed to the expenditure switching …