Abstract
In the literature of development finance, both the structuralist's "two-gap' approach of Chenery and Strout and the financialist's "liberalisation' approach of McKinnon and Shaw represent the two polar theories for academic research and policy recommendations. Harris has attempted to set up a simple model incorporating the two approaches and tested it with the experiences of five Asian economies. This paper first employed Harris' model, and empirically extended the analysis to include other Asian economies, giving particular attention to the financial impacts on growth. Secondly, an attempt is made to incorporate the structure of financial institutions as an instrument of analysis. A general conclusion is that economies with lesser government controlled financial institutions tend to face a more favourable climate for financial development. -Authors
| Original language | English |
|---|---|
| Pages (from-to) | 147-165 |
| Number of pages | 19 |
| Journal | Savings & Development |
| Volume | 15 |
| Issue number | 2 |
| Publication status | Published - 1 Jan 1991 |
Cite this
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Financial deepening and institutional development : some Asian experiences. / Kui Wai Li, Wai Li; Skully, M. T.
In: Savings & Development, Vol. 15, No. 2, 01.01.1991, p. 147-165.Research output: Contribution to journal › Article › Research › peer-review
TY - JOUR
T1 - Financial deepening and institutional development
T2 - some Asian experiences
AU - Kui Wai Li, Wai Li
AU - Skully, M. T.
PY - 1991/1/1
Y1 - 1991/1/1
N2 - In the literature of development finance, both the structuralist's "two-gap' approach of Chenery and Strout and the financialist's "liberalisation' approach of McKinnon and Shaw represent the two polar theories for academic research and policy recommendations. Harris has attempted to set up a simple model incorporating the two approaches and tested it with the experiences of five Asian economies. This paper first employed Harris' model, and empirically extended the analysis to include other Asian economies, giving particular attention to the financial impacts on growth. Secondly, an attempt is made to incorporate the structure of financial institutions as an instrument of analysis. A general conclusion is that economies with lesser government controlled financial institutions tend to face a more favourable climate for financial development. -Authors
AB - In the literature of development finance, both the structuralist's "two-gap' approach of Chenery and Strout and the financialist's "liberalisation' approach of McKinnon and Shaw represent the two polar theories for academic research and policy recommendations. Harris has attempted to set up a simple model incorporating the two approaches and tested it with the experiences of five Asian economies. This paper first employed Harris' model, and empirically extended the analysis to include other Asian economies, giving particular attention to the financial impacts on growth. Secondly, an attempt is made to incorporate the structure of financial institutions as an instrument of analysis. A general conclusion is that economies with lesser government controlled financial institutions tend to face a more favourable climate for financial development. -Authors
UR - http://www.scopus.com/inward/record.url?scp=0026333839&partnerID=8YFLogxK
M3 - Article
VL - 15
SP - 147
EP - 165
JO - Savings and Development
JF - Savings and Development
SN - 0393-4551
IS - 2
ER -