What Saved the Indian Banking System: State Ownership or State Guarantees?

  1. Viral V. Acharya1,
  2. Nirupama Kulkarni2

Article first published online: 14 NOV 2011

DOI: 10.1111/j.1467-9701.2011.01382.x

Issue

The World Economy

The World Economy

Special Issue: India

Volume 35, Issue 1, pages 19–31, January 2012

Additional Information

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

Author Information

  1. 1

    Department of Finance, Stern School of Business, New York University, New York

  2. 2

    Finance and Real Estate, Haas School of Business, Berkeley, CA

  1. 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.

  2. 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).

Publication History

  1. Issue published online: 18 JAN 2012
  2. Article first published online: 14 NOV 2011

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