Forbes cited a study co-authored by Associate Professor Abhiroop Mukherjee, IEMS Faculty Associate and Department of Finance. The article examined whether financing responds to productivity changes arising from large-scale road-building initiatives. The study found that individuals with less assets -- i.e. those without collateralizable assets like a house or land -- benefited more in terms of being able to borrow more. This is consistent with the view that new roads release collateral constraints, and improve financial inclusion for those who lack traditional collateralizable assets.
Read the full article by Forbes here.
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