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- W2894967205 abstract "The chapter stresses that all economies need payments systems and liquidity to function. Development, however, requires long-term support for projects and start-ups and such support the financial system under-provides. Since the 1980s, banks have become preoccupied with lending to the property sector and capital markets tend to favour well-known business groups in raising finance. Meanwhile most large banks have shifted to the trading of securities whose contribution to growth and development is questionable. Similar trends are visible in the developing countries. In the process, rent-seeking and moral hazard issues have multiplied in both sets of countries. The case of the Bank of Credit and Commerce International (BCCI) (1972–1991) provides a salutary lesson in how otherwise well-meaning attempts at providing financial services in the developing countries can end painfully." @default.
- W2894967205 created "2018-10-12" @default.
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- W2894967205 date "2018-01-01" @default.
- W2894967205 modified "2023-10-17" @default.
- W2894967205 title "Financial Services, Growth and Development" @default.
- W2894967205 doi "https://doi.org/10.1007/978-3-030-00521-4_3" @default.
- W2894967205 hasPublicationYear "2018" @default.
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