How Successful Are Banking Sector Reforms in Emerging Market Economies? Evidence from Impact of Monetary Policy on Levels and Structures of Firm Debt in India
Published By: The Institute for the Study of Labor (IZA) | Published Date: June, 01 , 2016In this paper investigates the success of banking reforms in India where significant banking reforms have been introduced since 1990s. Using the argument that well functioning credit markets would reflect a bank channel for monetary policy at work, the paper tests whether a change in monetary policy has predictable impact on borrowing behaviour of
several types of firms, including business group affiliated, unaffiliated private firms, state owned firms and foreign firms.
Author(s): Sumon Kumar Bhaumik, Ali M. Kutan, Sudipa Majumdar | Posted on: Jun 27, 2016 | Views() | Download (155)