Chandan Jha, Ph.D., associate professor of finance, recently published a paper in the European Journal of Finance. The paper coauthored with Sunny Singh of BITS Pilani, Hyderabad, India, shows that financial development and financial stability are substitutes in poverty reduction. Based on their findings, the authors conclude that rather than waiting for enough resources, policymakers should work toward either developing the financial system or ensuring its stability to fight poverty. The paper can be found here.      

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