Ever since Shaw and McKinnon published their path-breaking works on financial development in 1973, there has been extensive research on the effects of monetary and financial policies on economic growth of developing countries. This book puts forward a new paradigm of monetary development theory along Keynesian lines. The approach is substantiated by providing a fresh perspective on India's economic development after Independence.

chapter |6 pages


part |2 pages

Part I Theory of Development under Conditions of a Monetary Economy

chapter 1|34 pages

Money in Development Theory

chapter 3|26 pages

Implications for Development Policy

part |2 pages

Part II India’s Monetary Economy since Independence