Establishing finance-growth linkage for India: a financial conditions index (FCI) approach
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Date
2019-11
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Publisher
Emerald
Abstract
The global financial crisis of 2008 emphasized the need for monetary policy authorities to have a more comprehensive view of the conditions prevailing in the economy before deciding their policy stance. The purpose of this paper is to outline the construction of a financial conditions index (FCI) and investigate the possible co-integrating relationship between the economic growth and FCI.
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Keywords
Economics and Finance, Economic Growth, Financial Development, Principal Component Analysis