First published in 1984, this study analyses contemporary research
into the role of financial development as a means of accelerating
the economic growth of developing countries. The author analyses
both the financial structuralist' and financial repressionist'
schools of thought in order to determine both the direction of
causality between financial and real growth and the accuracy of the
repressionists' assertion that real interest rates and their
stability do matter in the economies of developing countries.
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