This paper is based partly on the NYU–Stern Working Paper ‘State Ownership and Systemic Risk: Evidence from the Indian Financial Sector during 2007–09’. I am grateful to Ajay Shah for providing the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) stock market data. We also thank an anonymous referee for helpful comments.
Article first published online: 14 NOV 2011
© 2011 Blackwell Publishing Ltd
The World Economy
Special Issue: India
Volume 35, Issue 1, pages 19–31, January 2012
How to Cite
Acharya, V. V. and Kulkarni, N. (2012), What Saved the Indian Banking System: State Ownership or State Guarantees?. World Economy, 35: 19–31. doi: 10.1111/j.1467-9701.2011.01382.x
Viral V. Acharya is also a Research Affiliate of the Centre for Economic Policy Research (CEPR), Research Associate in Corporate Finance at the National Bureau of Economic Research (NBER) and European Corporate Governance Institute (ECGI).
- Issue published online: 18 JAN 2012
- Article first published online: 14 NOV 2011