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Tanya Jain
Tanya Jain is an Assistant Professor at Ahmedabad University. She completed her PhD from IIM Bangalore in Economics and Social Sciences. Her research interests include corporate finance, banking, and law and economics.
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How R&D tax credits can drive price competition in Indian industries
In the last few decades, tax credits have been introduced in many developing countries to incentivise investment in research and development (R&D). Looking at the staggered introduction of R&D tax credits across industries, this study finds that increases in tax credits were effective in increasing R&D expenditure, while leading to a decline in prices. This decline is primarily driven by a decline in markup, conditional on cost, as opposed to the passthrough of cost savings to prices
Debt contract enforcement and product innovation
Weak enforcement of debt contracts can have undesirable consequences for financial development, as difficulty in recovering claims from distressed firms causes banks to reduce lending. Leveraging the staggered implementation of debt recovery tribunals across Indian states, this article shows that the legal reform had a positive impact on product growth in firms – as such innovation require considerable upfront investment and access to credit.