Shashwat Alok
Associate Professor of Finance
Indian School of Business, Hyderabad
ISB Alumni Endowment Research Fellow
Research Director - Digital Identity Research Initiative (DIRI)
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Education
Ph.D. Business Administration - Finance (2013), Olin Business School, Washington University in St. Louis
B.E. Computer Science and Engineering (2008), Manipal University
Research interests
Political Economy/Law and Finance, Household Finance and Financial Inclusion, Climate Finance and ESG
Awards/Honors/Research Grants:
ISB Alumni Research Award (2020-2021)
SRITNE Research Grant - $8000 (2019)
NSE-ISB Trading Laboratory (Two Research Grants) - $20000 (2019)
NYU-NSE Initiative for Emerging Market Studies (Research Grant) - $7500 (2019)
EY - Institute for Emerging Market Studies (Two Research Grants) - $22000 (2019)
EY - Institute for Emerging Market Studies (Research Grant) - $35000 (2016)
NYU-NSE Initiative for Emerging Market Studies (Research Grant) - $7500 (2016)
Hubert C. Moog Scholar for Academic Excellence, Washington University in St. Louis (2012)
Latest Updates
May 2024 (Planned): Presenter and Discussant at the FIRS 2025 conference in Seoul, Korea.
May 2024 (Planned): Discussant at ABFER 12th Annual Conference.
May 2024 (Planned): Visiting Research Scholar at NUS Business School.
March 2025: Discussant at the WEFIDEV-RFS-CEPR 2025 conference. In their paper "Timing lumpy investments with informal bridge loans and clunky formal loans: Evidence from Thailand," Anil K. Jain, ROBERT M. TOWNSEND, and FAN WANG document novel and insightful findings on the role of informal moneylenders in facilitating productive investments. The thesis is that informal loans act as a bridge between two formal short-term loans (1-year duration), effectively increasing the duration of formal loans. Such formal-informal-formal bridges help finance longer-term capital investments.
March 2025: Co-organize for the "ISB-CAFRAL Conference on The Impact of Digitalization Households and Firms" at ISB's Mohali campus.
January 2025: Presented my work, "Transportation Technology and Gentrification: Evidence from the Entry of Rideshare Services," at the CODE Conference.
December 2024: Presented my work, "Open Banking and Digital Payments: Implications for Credit Access," at the ISB-NBER Conference.
October 2024: Webinar on "Open Banking and Digital Payments: Implications for Credit Access" at ABFER Webinar Series.
June 2024: Gave a keynote Lecture titled "Open Banking and Digital Payments: Implications for Credit Access" at RSFE Conference, Krea University
May 2024: Visiting Research Scholar at NUS Business School.
May 2024: Discussant at ABFER 11th Annual Conference. In their recent working paper, "Diverging Banking Sector: New Facts and Macro
Implications", Shohini Kundu, Tyler Muir, and Jinyuan Zhang offer novel stylized facts regarding heterogeneity in the US banking sector:
–Low-rate Banks: Higher physical branches, low deposit rates, longer maturity assets, Low/No deposit beta, safer assets – lower credit spread, older customers
–High-rate banks: Fewer physical branches, deposit rates close to fed fund rates, shorter maturity assets, higher deposit beta, riskier assets – higher credit spread, younger customers
•Implications for Monetary Policy Transmission:
•↑ Interest rates ⇒ High-Rate banks ↑ deposit rates ⇒ Attract deposits away from low-rate banks ⇒ ↓ maturity transformation.
April 2024: Presented my recent, co-authored study, "Does Open Banking Expand Credit Access?" at the 1st Workshop on Finance and Markets, organized by the Institute for Economic Growth
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