ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Humanisation of Hazards

Disaster Studies: Exploring Intersectionalities in Disaster Discourse edited by Janki Andharia, Springer Nature, 2020; pp 462, 139.

Role of Banks in Promoting Risky Financial Assets

Based on national-level cross-sectional household data from the India Human Development Survey in 2011–12, this study examines the role of bank branch availability in influencing household investment in risky financial assets. Using propensity score matching to address sample selection bias, we find that the presence of a bank branch within a reachable distance of 5 kilometres has a significantly positive effect on household investment in risky financial assets. Specifically, for every 1,000 households, two households would have invested in risky assets if a bank branch is available within this range. The results are consistent even when using alternative matching algorithms. Additionally, a higher effect is observed for bank fixed deposits, a relatively more secured asset class.

Reforming the Risky Financial System

Other People's Money: The Real Business of Finance by John Kay; New York: Public Affairs, 2015; pp 352, $27.99 (hardcover).

Delinking Housing Cycles, Banking Crises, and Recession

The nexus of housing boom-busts, banking crises, and economic cycles is not unique to the last crisis and has been increasingly present in each of the major banking crises since the break-up of Bretton Woods in the early 1970s. Housing is a politically charged issue. A safer housing market, via planned fiscal intervention to steady supply, would do more to make the financial system safer than all of the other recent initiatives put together. Cheaper finance without cheaper homes only deepens housing inequality.

A Risk Perspective on the Union Budget 2001

Since the government has claimed to initiate second generation economic reforms with the budget for 2001-2002, it is useful to discuss the budget proposals with reference to their impact on the incidence of risk and the risk-bearing ability of the central government.

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