| 000 -LEADER |
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| fixed length control field |
01651pab a2200169 454500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
180718b2002 xxu||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Thorat, Usha |
| 245 ## - TITLE STATEMENT |
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| Title |
Developing bond markets to diversify long-term development finance: country study of India |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. |
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| Date of publication, distribution, etc. |
2002 |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
p.45-63. |
| 362 ## - DATES OF PUBLICATION AND/OR SEQUENTIAL DESIGNATION |
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| Dates of publication and/or sequential designation |
Jun |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc. |
The pattern of economic development adopted by India was essentially based on centralized planning with a predominant role given to the public sector. Public sector banks and financial institutions, which accounted for nearly 75 to 80 per cent of financial intermediation, contributed to the development process in the public sector by way of captive investments in government securities and lending to public sector entities. Rates of interest on government debt were administered and the rate of interest on central bank financing was hugely concessional. Exposure to external capital flows was limited. In such a milieu, there was hardly any development of the debt market. To move away from administered interest rates and reducing the reliance of government on high statutory pre-emption and its monetization of the budget deficit were the focus of reforms in the early 1990s. Against this background in section I, the current status of the debt market is described in section II. Section III contains an assessment of the various issues regarding development of debt markets in India while section IV concludes by analysing what more needs to be done. - Reproduced. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Financial markets - India |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Financial markets |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
Asia-Pacific Development Journal |
| 909 ## - |
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| -- |
53392 |
