Fiscal Policies and Governance of Financial Institutions

Research Programme

The effective governance of financial institutions has been emphasised as a key instrument for promoting stability, in the aftermath of the global financial crisis of 2007-09. With a series of reforms in all sub-sectors of the financial system, we expect that financial firms would face greater monitoring and stringent governance and regulation. The relevance of governance and its impact on overall stability of the financial system merits comprehensive research and analyses for understanding governance of financial institutions.

This research programme focuses on further understanding of the effectiveness of governance reforms and policies to enable stability of financial institutions in India and globally. The focus of research includes commercial banks, cooperative banks, microfinance, mutual fund companies, as well as insurance firms. We aim to analyse governance of financial institutions with respect to compliance with existing regulations, and how non-compliance could risk efficiency, risk-taking behaviour and stability of the financial system.


A non-parametric index of corporate governance in the banking industry: An application to Indian data (2019). Rachita Gulati, Ruth Kattumuri and Sunil Kumar. Socio-Economic Planning Sciences, in press. 

Governance and Governed: Multi-Country Perspectives on State, Society and Development (2018). Edited by Ruth Kattumuri with Madhushree Sekher and S. Parasuraman. Springer.

Governance and Fiscal Policy for achieving the SDGs in the Asian Region: South‐South Learning (2017). Ehtisham Ahmad. LSE India Observatory Working Paper 9.

Public Investment for Sustainable Development (2017). Ehtisham Ahmad. LSE India Observatory Working Paper 8.

Contracting Arrangements and PPPs for Sustainable Development (2017). Ehtisham Ahmad, Annalisa Vinella and Kezhou Xiao. LSE India Observatory Working Paper 7.

Political Economy of Tax Reform for SDGs: Improving the Investment Climate; Addressing Inequality; Stopping the Cheating (2017). Ehtisham Ahmad. LSE India Observatory Working Paper 6.

Fiscal implications of food security in India: A critical review. (2017). N. R. Bhanumurthy and Ruth Kattumuri. In: Supriyo De (ed.) India's Fiscal Policy: Prescriptions, Pragmatics and Practice. Cambridge University Press.

‘Incentive Conscious’ Agents and Moral Hazard (2017). Swapnendu Banerjee and Oindrila Dey. LSE India Observatory Working Paper 4.

Multi-level Finance and the Euro Crisis: Causes and Effects (2016). Edited by Ehtisham Ahmad, Massimo Bordignon and Giorgio Brosio. Edward Elgar.

Trade liberalization and Quality Innovation: A Theory and Some Evidence (2016). Swapnendu Banerjee. LSE India Observatory Working Paper 1.

India Development Report 2011 (2011). D.M. Nachane. Oxford University Press, India.

Effective Carbon Taxes and Public Policy Options: Insights from India and Pakistan (2009). Ehtisham Ahmad and Nicholas Stern. LSE Asia Research Centre Working Paper 28.

GST Reforms and Intergovernmental considerations in India (2009). Ehtisham Ahmad and Satya Poddar. LSE Asia Research Centre Working Paper 26.

Impact of Competition on Microfinance Beneficiaries: Evidence from India (2007). Samapti Guha. LSE Asia Research Centre Working Paper 21.

Consumer Food Subsidies: What Needs to be Done in India? (1999). Madhura Swaminathan. LSE Asia Research Centre Working Paper 2.

Other References from LSE
Featured Research

Sustainable and inclusive growth is increasingly dependent on clean, compact and connected city design for improved living conditions. This paper presents ideas on property taxation in the context of smart cities in India. 

Smart Cities for Sustainable and Inclusive Urban Transitions: Some Options for India (2019). Ahmad, E., Brosio, G., Kattumuri,R. LSE India Observatory Working Paper.


Ruth Kattumuri