In this study, we have tested empirically the McKinnon–Shaw complementarity hypothesis in India. India administratively regulated deposits and lending rates, high reserve requirements, heavy priority sector lending, high inflation rate — all these factors led financial repression in India...

India is a case of financial openness. The paper examines theoretically and empirically the McKinnon-Shaw model in India. According to McKinnon, a basic complementarily exists between money and physical capital. The model predicts that a high real interest rate policy will stimulate savings and...

The basic objective of the paper is to trace the relationship between Bank's lending and poverty reduction level in India. The study covers the period of 47 years (i.e., 1947-1994) and adopts the methodology of Ex-Post evaluation. The Bank has played a very significant role in Indian Economy...

The paper plans to discuss the seriousness of the African Debt Crisis with the help of Debt indicators for the period of 26 years (I.e. 1980-2006). Paper evaluates the past and recent debt relief measures. Recent measures such as HIPCs initiative is in the right direction and multilateral debt...

The operations of the IMF have evoked a great deal of interest in the economic profession. While the policy package as advocated by the IMF, may be quite detailed and complex, the quantitative underpinnings are simple. This research analyses the IMF monetary model designed by J.J. Polak and...

The major objective of this paper is to analyse analytically the application of Joint Fund Model (1985). This model tries to discuss the "Growth with Stability" with the help of Indian data for the period of 23 years (i.e., 1971-1993). Over the years IMF and the World Bank have stepped into each...

The basic objective of this paper is to study the financial sector reform policies during the reform period in Zambia Over the period financial sector reforms have been undertaken in Zambia. It traces the relationship between financial deepening and economic growth. This empirical study examined...

The major objective of paper is to analyse the analytics of IMF conditionality, and its application with India time series data for the period of 41 years ie 1971-2012. It also takes into account its relevance in the rapidly growing economies. IMF has changed its major Financial programming in...