Faculty News
In an interview with Professor Daniel Altman, Professor Viral Acharya talks about his research on the impact of shadow banking on China’s financial markets
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Excerpt from Foreign Policy -- "But as the episode unfolds, you realize some things about the use of debt-fueled stimulus for the economy... It produces short-term gains by making investment and output seem stable but carries the long-term risk of a protracted slowdown... It seems each country needs its own crisis to learn the hard lesson. It must be that the underlying political imperative to generate short-term growth at all costs is too strong, and political time horizons are far too short."
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