This paper studies the leadlag pattern in the interaction between credit and growth cycles of India at three levels i.e. at the aggregate level for annual GDP growth, at the sectoral level across agriculture, industry and services, and also across major industries. The study focuses on three...

An optimizing model of a small open emerging market economy (SOEME) with dualistic labour markets and two types of consumers, is used to derive the natural interest rate, terms of trade and potential output. Shocks are classified into generic types that affect the natural interest rates. Since...

The paper examines the basic reasons and feasible remedies for organizational weakness, and the possible contribution of ownership, industry and management structure, leadership, social norms, and institutional incentives to alleviating the weaknesses in the Indian context. The arguments are...

The appropriate exchange rate regime, in the context of integration of currency markets with financial markets and of large international capital flows, continues to be a policy dilemma. It is found that the majority of countries are moving towards somewhat higher exchange and lower interest...

A rise in CSR (corporate social responsibility) has accompanied rise in foreign direct investment (FDI) to developing countries in the 1990s. CSR may be serving a signalling function when the entering firm is of an unknown type. Although countries are now competing keenly to attract foreign...

This article addresses the issue of past and future types of monetary-fiscal coordination that can deliver inclusive growth and low inflation in the Indian context. After India’s Independence, monetary policy was subordinated to planned development and, therefore, implicitly directed at...

Amartya Sen's capability approach is very useful to analyse how choices affect the potential of women, once the position that women lack self-awareness when they make their choices is dropped. Women's agency is underestimated. Women's ‘otherregarding choices’ are not irrational...

A short-run model incorporates instantaneous portfolio equilibrium with macroeconomic flows to clarify the structure of real-financial sector interactions. If equity and foreign exchange markets are introduced in structuralist theories of asset markets in developing countries, the key result...

The paper analyzes incentive compatible task allocation between bureaucrats, central and local politicians in conjunction with the type of task. If effort in one task is an input in another task, giving the bureaucrat the second task as his objective will ensure the completion of both tasks....

Rising deficits and high debt ratios characterized currency crises in countries with low private savings rates and low population densities. But in emerging markets with large population transferring to more productive employment, sustainable debts and deficits may be higher. Debt ratios fall...