The credit market implications and real effects of one the largest borrower bailout programs in history are studied, enacted by the government of India against the backdrop of the 2008–2009 financial crisis. The stimulus program had no effect on productivity, wages or consumption, but led...

Why do many households remain exposed to large exogenous sources of non-systematic income risk? Why don’t financial markets develop to pool these risks? This paper uses a series of randomized field experiments to test the importance of price and non-price factors in the adoption of an...

This paper investigates the accuracy of recall data by comparing administrative records with retrospective, self-reported survey responses to income and asset questions for a sample of self-employed households from coastal India. It finds that the magnitude of the recall error increases over...

This paper investigates the accuracy of recall data by comparing administrative records with retrospective, self-reported survey responses to income and asset questions for a sample of self-employed households from coastal India. It finds that the magnitude of the recall error increases over...

This paper investigates the accuracy of recall data by comparing administrative records with retrospective, self-reported survey responses to income and asset questions for a sample of self-employed households from coastal India. It finds that the magnitude of the recall error increases over...

A brief introduction to Reserve Bank of India, followed by glimpses of the Indian economy. A detailed account of reforms in India’s financial sector, in particular, the banking sector, and financial markets [Speech delivered at the Central bank of Russian Federation].

From the early 1990s, India embarked on easing capital controls. Liberalization emphasised openness towards equity flows, both FDI and portfolio flows. In particular, there are few barriers in the face of portfolio equity flows. In recent years, a massive increase in the value of foreign...