Using a panel of India's registered manufacturing firms and both economy-wide and firm-level financial data, we … investigate the effects of India's financial liberalization on the productivity of its manufacturing sector in the 1990s and 2000s … sectors. Our results suggest that policies favoring financial liberalization should be pursued further in order for India to …

India has undertaken extensive reforms in its manufacturing sector in the last two decades. However, an acceleration of … growth in manufacturing, and a concomitant increase in employment, has eluded India. What might be holding the sector back …