1. General introduction -- 2. A critical review of the literature on credit rationing -- 3. The theory of credit rationing revisited -- 4. Financial liberalization -- 5. Intervention I : the South Korean experience -- 6. Intervention II : the Indian experience -- 7. Concluding remarks.

A theoretical analysis and several econometric tests have been undertaken to examine whether the trickle down effect took place in rural India over a long time period. We found little evidence to suggest that the trickle down effect had occurred at all; our analysis suggests that the emergence...