Macroeconomic Policy In India Since The Global Financial Crisis

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Macroeconomic Policy in India Since the Global Financial Crisis

Author : Sebastian Morris
Publisher : Springer Nature
ISBN 13 : 9811912769
Total Pages : 316 pages
Book Rating : 4.8/5 (119 download)

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Book Synopsis Macroeconomic Policy in India Since the Global Financial Crisis by : Sebastian Morris

Download or read book Macroeconomic Policy in India Since the Global Financial Crisis written by Sebastian Morris and published by Springer Nature. This book was released on 2022-05-25 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the Indian economic crisis and brings out what went wrong and the correction necessary for getting the economy back to high growth trajectory, leading to economic transformation. To do so, the book covers trends in performance of Indian economy since the Global Financial Crisis to the COVID-19 effect, bringing out factors that have determined the same. The book questions the approach to macroeconomic policy of both the RBI and the government and brings out what it takes for macroeconomic policy to be supportive of high growth. It contains revealing contrasts with East Asia and China, although India has the same potential to grow with an expansion of manufacturing. Overall, it argues that macroeconomic policies (as much as structural, industrial, and trade policies) have been deficient and even good initiatives on the industrial policy and trade flounder for the lack of a strategic approach to macroeconomics. The book highlights the special opportunities present in an emerging economy with vast under and utilised labour and the macroeconomic policy initiatives that can take advantage of this key feature. It covers the macroeconomic data on growth using multiple indicators, then the external shocks and the internal policy measures/responses; besides, GVA/GDP, credit, exports, external transactions, interest and policy rates, yields, exchange rates, money, capital flows, indices of industrial sector, price indices and inflation, government expenditures, tax rates, fiscal deficits, market uncertainty measures to present a holistic picture of the economy and the shocks and policy actions that have followed. The book uses an innovative method of presentation and the consistency of the trends/stances of both monetary and fiscal policy using these large number of variables. It discusses the debate on overestimation of GDP/GVA growth estimates over the years from 2011-12 to about 2016-17 comprehensively. There is special coverage of GST with a comparison with China. Coverage also includes performance since the COVID-19 crisis again using a large number of indicators and an explanation for the same in terms of the limitations of the government’s initiatives to counteract. The book is a quick and ready reference of what has happened in macroeconomic terms to those interested in the relevant facts. It is of interest to international economists, policy analysts, and investors whose need to understand that the Indian economy in macroeconomic terms and in terms of the stances and penchant of the government and the RBI is of value.

International Macroeconomics in the Wake of the Global Financial Crisis

Author : Laurent Ferrara
Publisher : Springer
ISBN 13 : 3319790757
Total Pages : 298 pages
Book Rating : 4.3/5 (197 download)

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Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara

Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

Market, Regulations and Finance

Author : Ratan Khasnabis
Publisher : Springer Science & Business Media
ISBN 13 : 8132217950
Total Pages : 253 pages
Book Rating : 4.1/5 (322 download)

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Book Synopsis Market, Regulations and Finance by : Ratan Khasnabis

Download or read book Market, Regulations and Finance written by Ratan Khasnabis and published by Springer Science & Business Media. This book was released on 2014-03-18 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume’s primary contribution to the field of Economics is that it addresses the issue of inter-linkages between money, finance and macroeconomics with a broad analytical perspective that has commonality with the Post-Keynesians. In an attempt to assess the consequences of economic reforms and the fallout of the global financial crisis on India and the world around, the book argues that with the onset of the crisis, as in most advanced economies, debates and discussions in India have been concerned with three main issues: monetary policy and asset prices, financial stability, and macro-prudential regulation. Three related issues which are also considered important in the Indian context are – rule vs. principle-based supervision, integrated financial supervision, and regulatory and supervisory independence. The book argues that the crisis highlighted the inadequacies of macro-prudential regulatory structure which mainly addresses idiosyncratic risks specific to individual financial institutions. The crisis precipitated an extensive debate on the role of national regulatory and supervisory authorities in crisis prevention and crisis management via macro-prudential regulations which involves a general equilibrium approach to regulation aiming at safeguarding the financial system as a whole. The book then argues that the crisis led to a paradigm shift in macroeconomic theory and policy. This shift has been categorized into four specific areas: monetary policy, financial regulation, corporate governance, and globalization. The book analyses how the characteristics of each of these four categories have changed from the pre-crisis to the post-crisis situation. The book also delves into the phenomenon of rising global commodity prices post-crisis. The book also deals with an analysis of the impact of this crisis on employment in the US economy, by simulating a macroeconomic model developed by the Cambridge Department of Applied Economics in the 1980s.

The Great Recession and Developing Countries

Author : Mustapha K. Nabli
Publisher : World Bank Publications
ISBN 13 : 9780821385142
Total Pages : 662 pages
Book Rating : 4.3/5 (851 download)

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Book Synopsis The Great Recession and Developing Countries by : Mustapha K. Nabli

Download or read book The Great Recession and Developing Countries written by Mustapha K. Nabli and published by World Bank Publications. This book was released on 2010-12-03 with total page 662 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides one of the most detailed and comprehensive reviews of the growth experience of a group of low and middle income countries before and during the global crisis. It then explores their growth prospects after the recovery and how they may be shaped by the new global economic environment.

India

Author : Vijay Joshi
Publisher : World Bank Publications
ISBN 13 : 9780821326527
Total Pages : 420 pages
Book Rating : 4.3/5 (265 download)

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Book Synopsis India by : Vijay Joshi

Download or read book India written by Vijay Joshi and published by World Bank Publications. This book was released on 1994-01-01 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a history of India's macroeconomy and recent developments in its political economy. Valuable lessons from India's stabilization policies explain how structural adjustment can also benefit long-term growth in the subcontinent. This analysis looks at various government policies that have influenced imports and exports, national investment and savings, gross national and domestic product, and the balance of payments. It specifically examines the degree to which stabilization has reformed agriculture and industry and has improved the relationship between the public and private sectors. A brief introduction to the Indian economy is given, and India's basic economic controls are reviewed. These include the government's national budget and its regulation of prices, production, investment, interest rates, and credit allocation. Also discussed are recent trends in investment and public spending.

The Global Financial Crisis and the Indian Economy

Author : B. L. Pandit
Publisher : Springer
ISBN 13 : 8132223950
Total Pages : 142 pages
Book Rating : 4.1/5 (322 download)

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Book Synopsis The Global Financial Crisis and the Indian Economy by : B. L. Pandit

Download or read book The Global Financial Crisis and the Indian Economy written by B. L. Pandit and published by Springer. This book was released on 2015-05-18 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: After tracing the causes of the global financial crisis, the book focuses on two fundamental systemic issues connected with its manifestation: financial-sector regulation and the problem of the dollar-centric international monetary system, both of which have been widely cited among the important factors leading to the 2008 financial crisis. The important analytical question of monetary policy transmission during the crisis is discussed in depth with the help of appropriate econometric models. The effectiveness of India’s monetary policy during the crisis is examined by specifying an econometric model, and the impact of the crisis on the Indian stock market is modelled on the basis of risk-enhancing and risk-mitigating features. In closing, the impact of the crisis on real sectors of the Indian economy is analysed in detail.

India and the Global Financial Crisis

Author : Y. Venugopal Reddy
Publisher : Anthem Press
ISBN 13 : 1843318016
Total Pages : 414 pages
Book Rating : 4.8/5 (433 download)

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Book Synopsis India and the Global Financial Crisis by : Y. Venugopal Reddy

Download or read book India and the Global Financial Crisis written by Y. Venugopal Reddy and published by Anthem Press. This book was released on 2010 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'India and the Global Financial Crisis' offers a collection of key speeches delivered by Reddy during his tenure as Governor of the Reserve Bank of India, and provides insights into the challenges facing the management of India's calibrated integration within the global economy.

What Have We Learned?

Author : George A. Akerlof
Publisher : MIT Press
ISBN 13 : 0262529858
Total Pages : 369 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis What Have We Learned? by : George A. Akerlof

Download or read book What Have We Learned? written by George A. Akerlof and published by MIT Press. This book was released on 2016-09-02 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Top economists consider how to conduct policy in a world where previous beliefs have been shattered by the recent financial and economic crises. Since 2008, economic policymakers and researchers have occupied a brave new economic world. Previous consensuses have been upended, former assumptions have been cast into doubt, and new approaches have yet to stand the test of time. Policymakers have been forced to improvise and researchers to rethink basic theory. George Akerlof, Nobel Laureate and one of this volume's editors, compares the crisis to a cat stuck in a tree, afraid to move. In April 2013, the International Monetary Fund brought together leading economists and economic policymakers to discuss the slowly emerging contours of the macroeconomic future. This book offers their combined insights. The editors and contributors—who include the Nobel Laureate and bestselling author Joseph Stiglitz, Federal Reserve Vice Chair Janet Yellen, and the former Governor of the Bank of Israel Stanley Fischer—consider the lessons learned from the crisis and its aftermath. They discuss, among other things, post-crisis questions about the traditional policy focus on inflation; macroprudential tools (which focus on the stability of the entire financial system rather than of individual firms) and their effectiveness; fiscal stimulus, public debt, and fiscal consolidation; and exchange rate arrangements.

The G20 Macroeconomic Agenda

Author : Parthasarathi Shome
Publisher : Cambridge University Press
ISBN 13 : 110705110X
Total Pages : 317 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis The G20 Macroeconomic Agenda by : Parthasarathi Shome

Download or read book The G20 Macroeconomic Agenda written by Parthasarathi Shome and published by Cambridge University Press. This book was released on 2014-07-14 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book delineates the possible barriers to India's enhanced involvement in the G20, and in global governance in general.

Critique of the New Consensus Macroeconomics and Implications for India

Author : Dilip M. Nachane
Publisher : Springer
ISBN 13 : 8132239202
Total Pages : 407 pages
Book Rating : 4.1/5 (322 download)

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Book Synopsis Critique of the New Consensus Macroeconomics and Implications for India by : Dilip M. Nachane

Download or read book Critique of the New Consensus Macroeconomics and Implications for India written by Dilip M. Nachane and published by Springer. This book was released on 2018-11-02 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thought-provoking book presents alternative viewpoints to mainstream macroeconomic theory, questions conventional policy wisdom and suggests a systematic re-orientation of current macroeconomic and financial regulatory policies in India. The New Consensus Macroeconomics (NCM), which established itself in the 1980s as mainstream macroeconomics, essentially represents an “uneasy truce” between two dominant schools of economic thought viz. New Classical and Neo-Keynesian economics. The NCM sets the tone for much of the macroeconomic (especially monetary) policy followed by the advanced economies in the period of the Great Moderation (1990–2005). The recent global crisis has posed a major challenge to the NCM as empirical models based on the NCM failed to anticipate the occurrence of the crisis and later its extent and severity. The above considerations constitute the underpinnings of this book, which addresses the theoretical controversies within a general context and their policy implications for India. The authors’ analysis leads to a somewhat critical assessment of the financial sector policies followed in India since the initiation of reforms in 1991. This makes the book a valuable resource not only for researchers working in this area, but also for policy makers.

India’s Recent Macroeconomic Performance

Author : Muneesh Kapur
Publisher : International Monetary Fund
ISBN 13 : 1484360672
Total Pages : 66 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis India’s Recent Macroeconomic Performance by : Muneesh Kapur

Download or read book India’s Recent Macroeconomic Performance written by Muneesh Kapur and published by International Monetary Fund. This book was released on 2014-04-29 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting of the stimulus and its gradual withdrawal sowed seeds for inflationary and BoP pressures and growth slowdown, then exacerbated by domestic policy bottlenecks and volatility in international financial markets during mid-2013. Appropriate domestic oil prices and fiscal consolidation will contribute to the recovery of private sector investment. Fiscal consolidation would also facilitate a reduction in inflation, which would moderate gold imports and favorably impact real exchange rate and current account deficit.

India and Global Crisis

Author : Shankar N. Acharya
Publisher : Academic Foundation
ISBN 13 : 9788171887507
Total Pages : 180 pages
Book Rating : 4.8/5 (875 download)

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Book Synopsis India and Global Crisis by : Shankar N. Acharya

Download or read book India and Global Crisis written by Shankar N. Acharya and published by Academic Foundation. This book was released on 2009 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: How bad is the Global Crisis? Will the Indian economy be hit hard? What can we do to protect ourselves from global turmoil? Is a growth recession inevitable? How well did we cope with the massive foreign capital inflows in the last five years? Did we follow a good exchange rate policy? What explains the surge in national savings and investment? Can we revive the economic boom of 2003-08? Do we have good roadmaps for reform of banking and finance? Do oil bonds make sense? How long can we sustain massive subsidies? Are economic disparities in India rising? Where are the new jobs? How good (or bad) is the UPA Government s economic legacy? In these short essays Shankar Acharya provides crisp answers to these and many other questions about India s economic policies and performance.

Macroeconomics and Markets in Developing and Emerging Economies

Author : Ashima Goyal
Publisher : Routledge
ISBN 13 : 1315398567
Total Pages : 331 pages
Book Rating : 4.3/5 (153 download)

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Book Synopsis Macroeconomics and Markets in Developing and Emerging Economies by : Ashima Goyal

Download or read book Macroeconomics and Markets in Developing and Emerging Economies written by Ashima Goyal and published by Routledge. This book was released on 2016-11-03 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents and further develops basic principles and concepts in international finance and open economy macroeconomics to make them more relevant for emerging and developing economies (EDEs). The volume emphasises the necessity of greater knowledge of context as populous Asian economies integrate with world markets, as well as the rapidly changing nature of the area due to rethinking after the global financial crisis. It addresses a host of themes, including key issues such as exchange rate economics, macroeconomic policy in an open economy, analytical frameworks for and experience of EDEs after liberalisation, the international financial system, currency and financial crises, continuing risks and regulatory response. This book will be useful to scholars and researchers of economics, especially in macroeconomics, business and finance and development studies.

Managing the Macroeconomy

Author : Ramkishen S. Rajan
Publisher : Springer
ISBN 13 : 1137534141
Total Pages : 210 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis Managing the Macroeconomy by : Ramkishen S. Rajan

Download or read book Managing the Macroeconomy written by Ramkishen S. Rajan and published by Springer. This book was released on 2015-08-04 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: While offering many growth-enhancing opportunities, India's ever-increasing integration with the world economy has given rise to a host of new challenges in managing the economy. This book provides an up-to-date empirical assessment of some of India's crucial policy challenges pertaining to its monetary and external sector management.

The Global Financial Crisis

Author : Satyendra Nayak
Publisher : Springer Science & Business Media
ISBN 13 : 813220798X
Total Pages : 307 pages
Book Rating : 4.1/5 (322 download)

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Book Synopsis The Global Financial Crisis by : Satyendra Nayak

Download or read book The Global Financial Crisis written by Satyendra Nayak and published by Springer Science & Business Media. This book was released on 2013-01-30 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis, though originating in the US, is global and comparable with the Great Depression of the 1930s. The book takes both micro and macro view of the crisis. It examines the evolution of the global monetary system and looks at the crisis from a systemic angle. It examines the institutional changes in American capitalism and market mechanisms. The dynamics of the market and its cyclical characters are discussed. It examines the structural changes in the US economy. The role of globalization and international funds flow, their changing character and the growing interdependence among nations have been examined. At the micro level, the book discusses the subprime market and the gaps in the system that created the crisis. It deals with the supervisory structure and growing influence of the derivatives market and the synthetic products that are threatening the financial system. It also analyzes the fundamental changes in the global trading and payments patterns, which are influencing the US balance of payments and the US dollar. The secular changes in the structure of the US economy are impacting the global economy. The work deals with the measures taken to resolve the crisis both in the US and on a global scale. The reforms necessary to avoid the recurrence of the crisis are outlined. The study aims to underline these factors and draw a perspective for the US dollar. It is also proposed to draw a scenario for a more efficient and equitable global monetary system with a role for the US dollar along with a new vehicle for international payments and finance. This would also include the reform of the global economic system and the IMF. The special feature of the book is that it takes a holistic view of the problem. The systemic and macro issues are discussed in addition to its microanalysis.

Monetary Policy in India

Author : Chetan Ghate
Publisher : Springer
ISBN 13 : 8132228405
Total Pages : 652 pages
Book Rating : 4.1/5 (322 download)

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Book Synopsis Monetary Policy in India by : Chetan Ghate

Download or read book Monetary Policy in India written by Chetan Ghate and published by Springer. This book was released on 2016-11-25 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents research that applies contemporary monetary theory and state-of-the-art econometric methods to the analysis of the monetary and financial aspects of the Indian economy and the impact of monetary policy on economic performance. Indian monetary policy has attracted significant attention from Indian and international macroeconomists over the last several years. Interest in how monetary policy influences economic performance and how monetary policy is conducted in India is growing. The prospects for further financial sector reform and ongoing inflation in India have sparked new interest in the role of money and monetary policy in India among economists, policy makers and students alike. The book should also interest economists outside India because it studies monetary economics in a major emerging market economy and makes advances in the analysis of how financial market imperfections and structural constraints influence the effects of monetary policy.

Macroeconomics and Markets in India

Author : Ashima Goyal
Publisher : Routledge
ISBN 13 : 9781138817432
Total Pages : 0 pages
Book Rating : 4.8/5 (174 download)

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Book Synopsis Macroeconomics and Markets in India by : Ashima Goyal

Download or read book Macroeconomics and Markets in India written by Ashima Goyal and published by Routledge. This book was released on 2014-09-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: India was one of the better performers after the global financial crisis, and has done well despite opening out in a period of great international volatility. This book asks if this was due to luck or to good management. It was previously published as a special issue of Macroeconomics and Finance in Emerging Market Economies.