ISSN (Online) - 2349-8846
-A A +A
The Case of India

Financial Reforms in an Endogenous Money Economy

An examination of the Reserve Bank of India's monetary policy leaves little doubt that India can be suitably characterised as an endogenous money economy. In an endogenous money environment, financial reforms will prove ineffective in stimulating credit supply to large commercial borrowers. They may, however, prove counterproductive by sharpening the credit constraints faced by agricultural and other petty producers in the economy.



 

Subscribers please login to access full text of the article.

 

 

Subscribe Now !

Get instant access to the complete EPW archives

New 3-Month Subscription to Digital Archives at just Rs 450 for India and $18 for overseas users.

  Subscribe  

Comments

(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top