Macroeconomics and Monetary Policy Issues for a Reforming Economy

by Ahluwalia, Montek S.; Reddy, Y. V.; Tarapore, S. S.

• ISBN13: 9780195661729
• ISBN10: 0195661729
• Format: Hardcover
• Copyright: 2003-01-30
• Publisher: Oxford University Press

Summary

This collection of papers explores analytical issues on macroeconomic policy, banking, international finance, monetary policy and the financial sector.

Table of Contents

List of Contributors	ix
List of Tables	xi
List of Figures	xiv
List of Abbreviations	xvi
Introduction	1	(14)
Montek S Ahluwalia, Y.V. Reddy, S.S. Tarapore
I MACROECONOMIC POLICY
1 Economic Reforms and Growth Prospects in India	15	(28)
Lawrence R. Klein, Thangavel Palanivel
2 Inflation and Growth in the World: Some Simple Empirics, 1970-99	43	(24)
P.R. Brahmananda, G. Nagaraju
3 Dynamics of Inflation in India: A P-Star Approach	67	(19)
D.M. Nachane, R. Laxmi
4 Business Cycles, International Linkages, and Exchange Rates	86	(24)
Manobar Rao
5 The Time Has Come To Talk of Many Things: A Foray into Development Policy	110	(19)
A. Vasudevan
II BANKING AND INTERNATIONAL FINANCE
6 Central Banking in the New Millennium	129	(17)
Andrew Crockett
7 Analytical and Regulatory Issues in the Competition for Private
Investment Between and Within Developing Countries	146	(16)
T.N. Srinivasan
8 Research and Policy Developments in Money, Finance, and the External Sector in India	162	(21)
Bimal Jalan
9 India's Vulnerability to External Crises: An Assessment	183	(32)
Montek S. Ahluwalia
10 Managing India's External Economic Challenges in the 1990s	215	(32)
Shankar Acharya
III MONETARY POLICY AND THE FINANCIAL SECTOR
11 Transparency in Monetary and Financial Policies and Its Role in Financial-sector Reform	247	(20)
V Sundararajan Udaibir S. Das
12 Monetary Policy, Internal Debt, and Autonomy of the Central Bank	267	(15)
S.S. Tarapore
13 Dimensions of Financial Development, Market Reforms, and Integration: The Indian Experience	282	(25)
Y.V. Reddy
14 The Role of the Debt Market in Infrastructure Financing in India	307	(21)
A. Prasad Rakesh Mohan
Index	328