Dr Santonu Basu
Senior Lecturer in Banking and Finance
Contact Details
Roles: Postgraduate Admissions
Tel: +44 (0)20 7882 2708
Fax: +44 (0)20 7882 3615
Location: Mile End, Francis Bancroft Building, Room 4.28
Email: santonu.basu@qmul.ac.uk
Personal homepage: Website
Research interests:
Santonu Basu primarily works in the area of the theory of credit rationing. In this he has given a new explanation as to why banks ration credit. He then used his own explanation to investigate the problems with financial liberalisation, and why developing countries are more susceptible to financial crises as opposed to developed countries. He has also given a theory of the operation of the rural credit market and then extended his theory to examine the operation of the informal credit market. His most recent works include issues related to financial globalisation, the relationship between technological change and employment, and the relationship between economic growth and poverty. Currently he is working on globalisation and poverty.
Publications:
Journal Articles:
Basu, S.(2009), “Government Success and Failure of the Market: A Case Study of Rural India” International Review of Applied Economics Vol 23, pp485-501.
Basu, S. (2008), “When Does Growth Trickle Down to the Poor? The Indian Case,”(with S.Mallick)Cambridge Journal of Economics Vol.32, pp. 461-477.
Basu, S.( 2006), “Some Structural Problems in Financing Development: Issues
Relating to India.” International Review of Applied Economics Vol.20, pp. 85-101.
Basu, S. (2005), “Financial Globalisation: The Need for a Single Currency and a Global Central Bank.” (with P. Arestis and S. Mallick), Journal of Post Keynesian Economics, Vol. 27, pp. 507-531.
Basu, S. (2004), “Globalisation and Regulation,” (with P. Arestis) Research inInternational Business and Finance, Vol. 18, pp. 129-140. (This paper has been listed twice on SSRN’s Top Ten download list)
Basu, S. (2003), “Why do Banks Fail?” International Review of Applied EconomicsVol. 17, No.3, pp. 235-252. (Appeared as a lead article).
Basu, S. (2003), “Financial Globalisation: Some Conceptual Problems,”(with P. Arestis) Eastern Economic Journal, Vol. 29, No.2, pp. 183 -189.(This paper has also been listed on SSRN’s Top Ten download list)
Basu, S. (2002), “Financial Fragility: Is It Rooted in the Development Process? AnExamination with Special Reference to the South Korean Experience, International Papers in Political Economy, Vol. 9, No.1.
Basu, S. (2001), “Incomplete Information and Asymmetric Information,” Zagreb International Review of Economics and Business, Vol.4,No.2, pp. 23 -48.
Basu, S. (1997), “Why Institutional Credit Agencies are Reluctant to Lend to the Rural Poor: A Theoretical Analysis of the Indian Rural Credit Market,” World Development, Vol. 25, No. 2, pp. 267-280. This work was Reprinted by National Bank of Agriculture and Rural Development (NBARD) in 1999 which is the sister bank of the Reserve Bank of India (RBI).
Basu, S. (1994), “Deregulation of the Australian Banking Sector: A Theoretical Perspective,”Australian Economic Papers, June, Vol. 33, No. 62, pp. 272-285.
Basu, S. (1989), “Deregulation: Small Business Access to the Capital Market, Some Theoretical Issues with Special Reference to the Australian Banking Sector,” Australian Economic Papers, June, Vol. 28, No. 52, pp. 141- 159.
Basu, S. (1986), "Problems of Small Business," Economic Papers, Vol. 5, No. 6, Dec, pp. 92-110.
Books:
Basu, S. (2002), Financial Liberalisation and Intervention: A New Analysis of Credit Rationing, London, Edward Elgar Publishing Ltd. (A review of my bookwas published in International Review of Applied Economics,2003, Vol.17,pp. 449-450).
Chapters in Books:
Basu, S.(2009), “Does Technological Change Induce Unemployment.” (with S. Mallick) in Unemployment: Past and Present, edited by P. Arestis and J. McCombie, Palgrave Macmillan.
Basu, S. (2008) “The Role of Finance and Credit in Economic Development,” (withP. Arestis) in International Handbook of Development Economics Edited by A. K. Dutt and J. Ros, Northampton, MA: Edward Elgar Publishing Ltd.
Basu, S. (2007) “The Role of Financial Institutions in the Context of EconomicDevelopment,” in Issues in Money and Finance, edited by J.S.L.McCombie and C. Rodriguez, Palgrave Macmillan.
Basu, S. (2007) “Is Growth Alone Sufficient to Reduce Poverty? In Search of theTrickle Down Effect in Rural India,” (with S. Mallick) in Economic Growth: A New Direction in Theory and Policy edited by P. Arestis, M. Braddeley and J. McCombie, Cheltenham, Edward Elgar Publishing Ltd.
Basu, S. (2006) “The Role of Banks in the Context of Economic Development with Reference to South Korea and India.” in Handbook of Alternative Monetary Economics, edited by P. Arestis and M.Sawyer, Cheltenham, Edward Elgar Publishing Ltd.
Basu, S. (2004), “Financial Globalisation and Regulation,” (with P. Arestis), reprinted in Portuguese in Financial Globalisation, edited by R. Jobreiva and F. Carvalho, Brazil, Atlas Press.
Basu, S (2004), “Financial Fragility: Is It Rooted In the Development Process? An Examination with Special Reference to the South Korean Experience,” in Neo-Liberal Economic Policy: Critical Essays, edited by P. Arestis and M. Sawyer, Cheltenham, Edward and Elgar Publishing Ltd.
Basu, S. (2003), “Asymmetric Information, Credit Rationing and the Stiglitz and Weiss Model,” in Modern Theories of Money, edited by S. Rossi and L.P. Rochon, New York, Edward Elgar Publishing Ltd.
Conference/Seminar papers:
Basu, S.(2008) “Is Capital Market Reform Entirely Responsible for the Recent Rise in the Misery of the Rural Poor? The Political Economy of Indian Agriculture.” Presented at the conference on Development in Economic Theory and Policy, University of the Basque Country University, Bilboa, Spain.
Basu, S. (2007) “Does Technological Change Induce Unemployment?” (with S.Mallick) presented at the Conference on Unemployment at the Universityof Cambridge.
Basu, S. (2006) “Is Growth Alone Sufficient to Reduce Poverty? In Search of the Trickle Down Effect in Rural India.” (with S. Mallick) presented at the Heterodox Economics Conference at the New South Wales University, Sydney in December.
Basu, S. (2006) “Can the Current Process of Globalisation Reduce Poverty? ATheoretical Examination with Special Reference to India,”presented at the conference on Development in Economic Theory and Policy, University of the Basque Country University, Bilboa, Spain.
Basu, S. (2006) “Is Growth Alone Sufficient to Reduce Poverty? In Search of the Trickle Down Effect in Rural India,” (with S. Mallick) invited to present at the Institute of Social and Economic Change, (Bangalore), Indira GandhiInstitute Development Research (Mumbai) and Jawaharlal Nehru University (New Delhi), April.
Basu, S.(2005) “Is Growth Alone Sufficient to Reduce Poverty? In Search of the Trickle Down Effect in Rural India,” (with S.Mallick) presented at the conference on Economic Growth, University of Cambridge, 1-3 September
Basu, S (2005), “The Role of Financial Institutions in the Context of EconomicDevelopment,” presented at the International Conference on Development in Economic Theory and Policy, University of the Basque Country, Spain
Basu, S. (2005) “The Role of Financial Institutions in Development with Reference to South Korea and India,” presented at the Post Keynesian StudyGroup: Special Meeting on Finance and Development, University of Cambridge, 25th February.
Basu, S.(2004) “Does Technological Change Induce Unemployment?” (with S.Mallick), Presented at the Post Keynesian Economics Study Group Meeting, University of Greenwich, November.
Basu, S. (2004) “Is Growth Alone Sufficient to Reduce Poverty? In Search of the Trickle Down Effect in Rural India,” (with S. Mallick), Presented at the Sir Arthur Lewis Conference, Manchester University, July.
Basu, S. (2002), “Some Structural Problems in Financing Development: Issues Related to India,” presented on April at the Annual Conference organised by the British Association for South Asian Studies, Lancaster University.
Basu, S. (2002), “The Operation of the Informal Credit Market,” invited to present at the Seminar Program of the School of Development Studies, University of East Anglia.
Basu, S. (1998), “Why Do Banks Fail?” Economists Conference, organised by the Economic Society of Australia and New Zealand, University of Sydney, NSW, Australia, September.
Basu, S. (1996), “A Theoretical Explanation of Why Institutional Credit Agencies and Commercial Banks Remain Reluctant to Extend Credit to the Rural Poor: An Analysis of the Operation of the Indian Rural Credit Market,” Australian Economic Congress, organised by the Economic Society of Australia and New Zealand, Australian National University, Canberra, Australia, September. This paper has also been presented at the Centre for Development Economics, Delhi School of Economics in 1995.
Basu, S. (1996), “The Theory of Credit Rationing Revisited,” The 1996 India and Southeast Asia Meeting of the Econometric Society, Delhi School of Economics, Delhi, December.
Basu, S. (1989), “Government Policies on Small Business,” Economic and Social Policy Group, University of New South Wales, Sydney, September.
Basu, S. (1988), “Deregulation: Small Business Access to the Australian Financial Market,” Australian Economic Congress, Australian National University, Canberra, August.
Research in progress:
Basu, S. “Causes of the Current Financial Crisis”
Undergraduate teaching:
Courses delivered:
BUS201: Financial Institutions
Postgraduate teaching:
Courses delivered:
BUSM020: Finance for Development