Development Banks: Their role and importance for development C.P. Chandrasekhar

The role of development banks in the development trajectories of late industrialising, developing countries cannot be overemphasised. However, with financial liberalisation of the neoliberal variety transforming financial structures, some countries are doing away with specialised development banking institutions on the grounds that equity and bond markets would do the job. This is bound to lead to a shortfall in finance for long-term investments, especially for medium and small enterprises.

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