Given that technological innovations in the banking sector in industrialised countries have been shown to increase productivity of this industry around the world, then why did India shy away from adopting this technology until the 1990s? Why has India been a late adopter of technology in the...

Capital flight may undermine economic growth and the effectiveness of debt relief and foreign aid. This paper is the first attempt to test whether unsound macroeconomic policies or weak institutions lead to capital flight, using panel data for a large set of developing, emerging market and...