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MACROECONOMICS
Since the advance of the financial repression thesis over the last two
decades, development practitioners as well as academics have increasingly
come to hold the view that finance matters and that financial systems that
are market oriented have beneficial effects on the economy. Financial reform,
which assigns a greater role to market forces and does away with controls and
restrictions on the financial system, is considered to be a necessary ingredient
for improving the efficiency of the financial sector as well as enabling it to bet-
ter meet the growing and diverse needs of the real sector. In the real sector of ...
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