An investment and banking driven growth and development - virtuous mark of finances in economy Online publication date: Fri, 16-Sep-2022
by Pallabi Mukherjee; Kali Charan Modak
International Journal of Electronic Banking (IJEBANK), Vol. 3, No. 3, 2022
Abstract: This paper aims to establish the impact of both fiscal and monetary aspects on the growth and development of the Indian economy. The causality between GDP and FDI and also between FDI and all dimensions of development is evaluated. Findings provide a comprehensive image of how FDI has impacted a developing country like India in terms of growth and development. The paper also aims to establish the impact of banking parameters (financialisation) such as broad money, commercial bank branches, domestic credit to the private sector, automated teller machines, lending interest rate, listed domestic companies, total market capitalisation of listed domestic sector companies and stocks traded on both growth and development. The primary findings portray the positive impact of commercial bank branches, domestic credit to the private sector, lending interest rate, and market capitalisation of listed domestic sector companies on the overall development of India.
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