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Financial Access in Post-Reform India$
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T.A. Bhavani and N.R. Bhanumurthy

Print publication date: 2012

Print ISBN-13: 9780198076650

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780198076650.001.0001

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Assessing Financial Development and Access Analytical Considerations

Assessing Financial Development and Access Analytical Considerations

Chapter:
(p.29) 3 Assessing Financial Development and Access Analytical Considerations
Source:
Financial Access in Post-Reform India
Author(s):

T.A. Bhavani

N.R. Bhanumurthy

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198076650.003.0003

This chapter describes the process of financial development and access, and the various dimensions of each of the two concepts, and how it leads to economic growth and development. It elaborates on the macroeconomic growth approach and underlying rationale for adopting this approach. Keeping the productive investment requirements of growth in mind, financial development is specified along the dimensions of diversification, size, reach, efficiency and soundness. Financial access is specified as the use of formal financial resources in relation to actual productive investment undertaken by the economic agents/sectors/segments. Further, the use of formal financial system is examined in terms of availability and adequacy of formal financial resources. Adequacy is measured as gap between the need and availability, which the study terms as financial resource gap.

Keywords:   financial development, financial access, financial inclusion, inclusive development, macroeconomic growth, productive investment, financial resource gap, small and marginal farmers, small and micro enterprises

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