The environmental Kuznets curve (EKC) is a hypothesized relationship between various indicators of environmental degradation and income per capita. As economies get richer environmental impacts first rise but eventually fall. In reality, though some types of environmental degradation have been...

This paper re-emphasizes the importance of price stability as a tool for macroeconomic policy and make it more specific by considering a typically (unanticipated) advantage of stabilizing the Consumer Price Index (CPI). I briefly review the recent economic growth performance of the Indian...

The end of the ethnic conflict in Sri Lanka in 2009 generated widespread expectations of a period of sustained economic growth, building on the achievements of the liberalisation reforms sustained over three previous decades. However, recent developments have dampened that optimism, rekindling...

Until very recently and despite human capital’s pre-eminent and empirically established contribution to economic growth, Indian policymakers planning for economic development concentrated largely on issues of capital, labour and, to a lesser extent, technology. This paper argues that India’s...

This paper provides an overview of the impact of the global financial crisis (GFC) on the Indian economy. It identifies the channels through which the GFC has impacted the Indian economy and evaluates the stimulus packages that have been put in place by the government of India. Finally, the...

This paper examines the determinants of private saving in the process of economic development, in the light of the Indian experience during the period 1954 - 1998. The methodology involves the estimation of a saving rate function derived within the life cycle framework while paying attention to...

International pressure to revalue China’s currency stems in part from the expectation that rapid economic growth should be associated with an underlying real exchange rate appreciation. This hinges on the Balassa-Samuelson hypothesis, which sees growth as stemming from improvements in traded...

This paper revisits the discussion about the contribution of Total Factor Productivity (TFP) growth to Indonesia’s economic growth during 1970-2007. It re-estimates the contribution of TFP to economic growth during this period on the basis of new estimates of GDP, capital stock,...

This paper presents long-term estimates of gross fixed capital formation for 1951-2007 that are disaggregated by categories of productive assets. These data, combined with approximations of probable average asset lives and a feasible asset retirement method are used in a Perpetual Inventory...