ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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JAPAN S APOLOGY-What about the Others

conditions prevailing in their financial systems. In developing countries with dualistic financial systems, as in India, control of a wider range of interest rates is necessary for stability and growth. In any case, there is a strong case for ensuring that short-term rates, such as the call rate, are not allowed to fluctuate beyond a specified band.

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