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As a result of the liberalization of the 1980s, the financial system has acquired a prominent role in developing economies. It is now conventional wisdom that 'financial liberalization' is the means to stimulate economic development. Investment Finance in Economic Development challenges this assumption and offers an alternative view. The book presents a post-Keynesian approach to the role of banks, financial markets and savings in economic development. It departs from the conventional belief that financial institutions are mere intermediaries between savers and investors, to show that banks have a key, active role in the process of investment finance and growth. Further, financial markets, as the loci of allocation of financial savings, are shown to have an important role in supporting financial stability during the process of growth.

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Book Details

ISBN: 9780415108669
ISBN-10: 0415108667
Format: Hardback
(216mm x 138mm x 17mm)
Pages: 256
Imprint: Routledge
Publisher: Taylor & Francis Ltd
Publish Date: 6-Apr-1995
Country of Publication: United Kingdom

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