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Unformatted text preview: Burgess & Pande (2003) Credit and Microfinance However, there have been limited evaluations of such programs 6.2 Burgess & Pande (2003) Do Rural Banks Matter?: Evidence from the Indian Social Banking Experiment structural change – decline of agriculture as the dominating sector key area of research in economic history, development economics and macroeconomics big area of work in 1950s, 1960s and 1970s – positive correlation with economic growth – positive correlation with rising living standards . . . but most of the work is descriptive limited understanding of what drives structural change particularly at the micro level the paper exploits the social banking experiment in India to examine this issue does state-led expansion of access to commercial banks in rural areas lead to structural change and economic growth does improved access to banks enable households to transform production activities – reexamine old set of ideas due to Gerschenkron (1962) and others – social banking experiment in India motivated by the idea that lack of access to bank was an impediment to modernisation and industrialisation in rural areas Idea that financial development may be a pre-requisite for economic development influential in post-war Indian governments Development Economics, LSE Summer School 2007 115 ...
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This note was uploaded on 12/29/2011 for the course ECO 307 taught by Professor Dublin during the Spring '10 term at SUNY Stony Brook.

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