Global Economy
 
China’s fitful economic reforms
Eswar Prasad
Posted on: 07 Dec 2015

Last week, IMF elevated China’s yuan to the status of a global reserve currency. In this article, Eswar Prasad, the Tolani Senior Professor of Trade Policy at Cornell University, contends that the fundamental question China’s policymakers now face is whether they will back up their commitment to financial sector reforms with broader measures that will truly free up markets and support them with a strong institutional foundation.
read on »
A conversation on development - I
Kaushik Basu , Parikshit Ghosh
Posted on: 03 Feb 2016

Parikshit Ghosh (Associate Professor of Economics, Delhi School of Economics) speaks with Kaushik Basu (Chief Economist and Senior Vice President, World Bank and former Chief Economic Adviser, Government of India) on issues ranging from the change in World Bank’s mission and its engagement with the world, rising inequality in the developed world, managing the negative side effects of growth, to the role of behavioural economics and paternalism in development, and the exclusionary nature of the ongoing digital revolution.

This part of the interview focuses on global issues. This is the fourth in the series of I4I Conversations.

read on »
Fixit, not Brexit
Maitreesh Ghatak
Posted on: 24 Jun 2016
Topics:   Global Economy
Tags:   UK

In a referendum on 23 June, Britain voted for its exit from the European Union. In this article, Maitreesh Ghatak, Professor of Economics, London School of Economics, discusses the causes and likely consequences.
read on »
An economist’s view on recent domestic and world events
Dilip Mookherjee
Posted on: 31 Jan 2017

Dilip Mookherjee spoke to Hindu Business Line at length on a variety of issues including demonetisation, the upcoming Budget, and the Trump Presidency’s impact on the world economy.
read on »
How US interest rates influence the world economy
Eswar Prasad
Posted on: 23 Dec 2015
Topics:   Global Economy
Tags:   US

For the first time in nearly a decade, the US Federal Reserve has raised its benchmark interest rate by 0.25 percentage points. In this article, Eswar Prasad, the Tolani Senior Professor of Trade and Policy at Cornell University, explores the potential impact of this move on the rest of the world. In his view, India is well positioned to weather the effects, as the economy still has growth momentum and room to tolerate some currency depreciation without adverse domestic consequences.
read on »
Can India beat this slowdown?
Jayan Jose Thomas
Posted on: 24 Feb 2016

RBI Governor Raghuram Rajan has cautioned the government against seeking to generate economic growth by increasing public spending and hence, adding to the fiscal deficit. In this article, Jayan Jose Thomas, Associate Professor of Economics at Indian Institute of Technology, Delhi, puts forth the view that the only engine that can pull the Indian economy forward at the moment is government expenditure.
read on »
Deconstructing the global wave of right-wing populism
Pranab Bardhan
Posted on: 08 Feb 2017

At present, there seems to be palpable reaction against ideas of tolerance, minority rights, freedom of expression, and respect for individual autonomy and dignity, in many parts of the world. In this article, Pranab Bardhan contends that global traits of the populist right suggest how liberals can take it on.
read on »
Why the World Bank’s International Comparison Program has limited use for India
Ranjan Ray
Posted on: 20 Feb 2015

Preliminary results from the World Bank’s International Comparison Program, which seeks to compare the economies of 199 countries across the globe, were released recently. In this article, Ranjan Ray, Professor of Economics, Monash University, highlights several features of the exercise that limits its usefulness for a diverse country such as India, and makes recommendations for the next round.
read on »
What does China’s ‘new normal’ mean for India?
Sharmila Kantha
Posted on: 17 Jun 2016

China’s new normal – a growth rate of at least 6.5% - has been set as a target in its 13th Five Year Plan. In this article, Sharmila Kantha, Principal Consultant, Confederation of Indian Industry, contends that the potential implications of the Chinese deceleration for the Indian economy need to be analysed in detail.
read on »