Meghana Ayyagari is Associate Professor at the School of Business and the Elliott School of International Affairs, at George Washington University. She received her B.S. in Electrical Engineering from India and Ph.D. in Finance from the University of Maryland, College Park. Her research interests are in the area of international corporate finance and development economics. Her research has been published in the Review of Financial Studies, Journal of Financial and Quantitative Analysis, and Journal of Banking and Finance. She has received grants from the National Science Foundation (NSF) to study property rights protection, and corruption and tax evasion across developing countries. She has served as a consultant for several international organisations including the World Bank, USAID, and the Center for Institutional Reform and the Informal Sector (IRIS). She teaches courses in international financial management and international business.
Migrating out of poverty: The role of finance
13 Sep 2013
Financial liberalisation has been controversial as it is not clear whom the expanded credit allocation actually benefits. Using variation across time and states in India, this column finds strong evidence that financial deepening reduces rural poverty, especially among the self-employed. Financial deepening is also found to be associated with an inter-state migration trend from rural areas into the tertiary sector in urban areas.
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