Saibal Ghosh
Does financial outreach engender economic growth? Evidence from Indian states
Reserve Bank of India
purpose employing data 14 major indian states 19732004 paper aims investigate hypothesis economic growth affected financial outreach designmethodologyapproach paper employs univariate tests well advanced panel regression techniques examine whether financial outreach matters statelevel economic growth findings analysis suggests improvements financial outreach led perceptible rise per capita growth terms magnitudes rise demographic outreach 10 percent raises state per capita growth 03 percent case geographic outreach increase lower finally analysis supports hypotheses states higher manufacturing share tend grow faster quality statelevel institutions infrastructure exert significant bearing growth research limitationsimplications although definitions financial outreach based international best practice focus banks driven availability data relevant variables practical implications article belongs broad strand literature examines financegrowth nexus social implications financial outreach presently avowed objective policymakers india elsewhere article examines sets economicpolicy variables impact financial outreach analysis provide policymakers feedback regards feasibility strategies pursued improve financial outreach thereby best redesign finetune originalityvalue authors knowledge presumably first study india examine financial outreachgrowth nexus systematic manner subnational level