The results of empirical research confirm that a well-functioning and developed financial sector fosters economic growth. Additionally, financial deepening has a significantly larger impact on the poorest parts of societies, thus playing... more
The results of empirical research confirm that a well-functioning and developed financial sector fosters economic growth. Additionally, financial deepening has a significantly larger impact on the poorest parts of societies, thus playing a critical role in reducing income inequality and poverty. In many countries, however, the level of financial development is very low due to severe consequences arising from asymmetric
Research Interests: Economic Growth, Financial development, Knowledge Economy, Income inequality, Social Welfare, and 11 moreGrowth, Institutions, Case Study, Asymmetric Information, Small and Medium Enterprise, Empirical Research, Financial Sector, Financial intermediation, Financial Sector Development, Information Assymetry, and Macroeconomic Stability
The 27th SUERF Colloquium in Munich in June 2008: New Trends in Asset Management: Exploring the Implications was already topical in the Summer of 2008. The subsequent dramatic events in the Autumn of 2008 made the presentations in Munich... more
The 27th SUERF Colloquium in Munich in June 2008: New Trends in Asset Management: Exploring the Implications was already topical in the Summer of 2008. The subsequent dramatic events in the Autumn of 2008 made the presentations in Munich even more relevant to investors and bankers that want to understand what happens in their investment universe. In the present SUERF
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This paper examines the transmission mechanism of monetary policy in India. Considering the external constraints on monetary policy, it estimates a series of vector autoregression models to examine the effects of an unanticipated monetary... more
This paper examines the transmission mechanism of monetary policy in India. Considering the external constraints on monetary policy, it estimates a series of vector autoregression models to examine the effects of an unanticipated monetary policy tightening on the real sector. The empirical results suggest that the lending rate initially increases in response to a monetary tightening. Banks play an important