Potential benefits[ edit ] The service sector is probably the most liberalized of the sectors. Liberalization offers the opportunity for the sector to compete internationally, contributing to GDP growth and generating foreign exchange.
The key issues", In Finance and the Real Economy ed. Yilmay Akyuz and Gunther HeldSantiago: United Nations University Allen, F. In Capital Markets and Financial Intermediation ed. Cambridge University Press Allen, F. Oxford University Press Amsden, A. Good-bye financial repression maybehello new institutional restraints," World Development, Vol.
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P. Chandrasekhar and Jayati Ghosh Asian century? Both China and India have large populations covering substantial and diverse geographical areas, large economies with even larger potential size.
2 An overview of the financial liberalisation policy in Nigeria. After serious external debt and balance-of-payment crises in the mids, Nigeria changed its economic policy from a direct to an indirect market-oriented approach through the Structural Adjustment Programmes (SAPs) in Macro Management Financial Liberalisation and Regulation; Global Competitiveness of the Indian Economy – Agriculture, Manufacturing and Services.
These financial sector policies, liberalization or repression, and the development on the financial system that follows, can have significant impacts on the relationship between financial development and economic growth.
The World Bank Group works in every major area of development. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. Financial development and liberalisation have a favourable impact on financial instability with the effects of financial liberalisation being greater than the effect of financial development, while economic growth has an opposite effect.