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Shadow banking in China plays an important role in China’s overall financial system, but assessments of its impact vary widely. In this paper, Sarah Hsu describes how shadow banking is viewed by Chinese government officials and industry experts as overly risky and potentially undermining the formal financial system. But shadow banks are filling a gap in the provision of finance to particular sectors and smaller firms. Hsu analyzes the impact of government regulation on the shadow banking and non-shadow banking financial sector (i.e., the stock market) and proposes ways to strengthen the regulations of shadow banks to improve access to credit.

Revisiting India's Growth Transitions

Working Paper, December 2019 | Deepankar Basu

In “Revising India’s Economic Growth Transitions,” Deepankar Basu examines two questions relating to India's economic growth trajectory: structural breaks in growth and the impact of equipment investment on aggregate economic growth. He first shows that substantial accelerations in India’s growth path have occurred only at two points since the 1960s, in 1978-79 and 2004-05. Basu also finds that private investment in equipment and machinery exerts a significant positive impact on India’s GDP growth. These findings shed new light on how India transitioned from a slow to a fast overall growth trajectory starting in the 1990s.

Climate Change is Devastating India with Heat Waves and Water Shortages

The Real News Network

Interview, June 2019 | Shouvik Chakraborty

Climate Change Is Devastating India with Heat Waves and Water Shortages In The Real News Network interview, PERI's Shouvik Chakraborty discusses India's climate disasters fueled by the government's resource mismanagement and fossil fuel consumption. >> Watch interview
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