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We examine the strength of monetary transmission in India, using a conventional structural VAR methodology. We find that a tightening of monetary policy is associated with a significant increase in bank lending rates and conventional effects on the exchange rate, though pass-through to lending rates is only partial and exchange rate effects are weak. We could find no significant effects on real output or the inflation rate. Though the message for the effectiveness of monetary transmission in India is therefore mixed, our results for India are more favorable than is often found for other developing countries.
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.
At the outbreak of the global financial crisis, 2008, the G20 was widely acknowledged as helping prevent an even more serious decline in the global economy. It helped to calm the panic in financial markets and articulate a set of possible policy options to restore global stability and growth. However, as the dual-track recovery set in, policy options for advanced economies and EMEs diverged. Within this context, this book will explore the scope for cooperation amongst the G20 and the diverging challenges and the intricate interconnectedness of policy options between advanced economies and the EMEs within the G20.
Over the past two decades, China's robust economic performance has propelled it to the world stage. At the same time, the world has increasingly scrutinized China's economic policies and activities. One of the hotly contested issues is China's foreign exchange rate policy. China's current reform and modernization policies to convert its centrally planned economy towards a market-driven one could hardly draw on experiences of other countries.This book provides a succinct and up-to-date account of China's exchange rate policy including the currency undervaluation debate and the internationalization of its currency. It begins with a brief history of the modern China's foreign exchange rate poli...
Evidences from historical events on epidemic and pandemics indicates the higher death toll, social, economic and governance disruption during their occurrence. Plague, Cholera, Small pox, Influenza and COVID-19 impact partially or fully on the nation and the world. But, the novel COVID-19 spreading across the world since its inception on 30th December 2019. By watching and observing the growth, extent and effects of COVID-19 in hotspot nations China, America, England and Australia, IQAC of our institution has taken an initiation to organize one day national webinar on multi-dimensional aspects of COVID-19 with the main theme “War Against COVID-19; An Alarm to Mankind”. It includes sub th...
This book brings together a collection of papers on international trade and international finance, instead of treating the two as disjoint fields of study. The volume, while focusing on the recent developments and frontiers of research in international trade and international finance, also emphasizes the inherent integrated nature of the two subjects; some of the papers are overlapping across the two areas. A unique feature of the proposed volume is that it unravels some new issues in addition to re-examining certain old issues in a new perspective and thus covers wide ranging issues with an emphasis on policy. The book covers issues mostly relating to emerging market economies, which has in...
The India Policy Forum (IPF) is India's most prominent annual economic policy conference in the summer season of New Delhi and is organized by NCAER, the National Council of Applied Economic Research. The primary goal of the IPF is to promote original policy and empirical research on India, including policy-focused review articles that seek to define the best economic policy advice based on robust, empirical research. The annual IPF conference provides a unique combination of intense scholarship and expert commentary on commissioned research papers with a strong focus on policy. The revised papers and conference proceedings are published in this volume, including the comments of paper discussants and a summary of the floor discussion on each paper.
When the pandemic struck, family, education, and the economy all took a hit in terms of maintaining structural relationships. Even before the Pandemic, India's socio-cultural system had been facing numerous difficulties and changes as a result of political and economic forces, Corona. Religion, the economy, and the political system have all played important roles in changing the social structure. Nutrition is also a significant concern. Nutrition is a science that is engaged in the prevention and treatment of a wide range of infectious and non-infectious disorders. A well-balanced diet aids in the improvement of general public immunity and, as a result, aids in the prevention of infection. D...
The Book Indian economy is witnessing an unprecedented situation due to outbreak of deadly pandemic COVID-19 which has affected almost every socio-economic sectors of the country. Indisputably, it will have a huge adverse impact on Indian economy, revival and healing of the same would require, more or less, two to three years restoring normalcy in various sectors. The main task before the government and policy formulation agencies is to convert challenges arising due to pandemic into opportunities for Post-COVID era. The government announced a number of measures to fight with the emerging situations which includes food and health security, reforms in banking and other financial institutions,...