Barry Eichengreen is the George C. Pardee and Helen N. Pardee Professor of Economics and Professor of Political Science at the University of California, Berkeley, where he has taught since 1987. He is a CEPR Research Fellow, and a fellow of the American Academy of Arts and Sciences, and the convener of the Bellagio Group of academics and economic officials. In 1997-1998, he was Senior Policy Advisor at the International Monetary Fund. He was awarded the Economic History Association's Jonathan R.T. Hughes Prize for Excellence in Teaching in 2002 and the University of California at Berkeley Social Science Division's Distinguished Teaching Award in 2004. He is also the recipient of a doctor honoris causa from the American University in Paris. His research interests are broad-ranging, and include exchange rates and capital flows, the gold standard and the Great Depression; European economics, Asian integration and development with a focus on exchange rates and financial markets, the impact of China on the international economic and financial system, and IMF policy, past, present and future.
From tapering to tightening: The impact of the Fed’s exit on India
27 Nov 2014
India was among the hardest hit by the Fed’s ‘taper talks’. This column argues that this impact was large for two reasons. First, India received huge capital flows before. This had made it a convenient target for investors seeking to rebalance away from emerging markets. Second, macroeconomic conditions had worsened, which rendered the economy vulnerable. The measures adopted in response were ineffective in stabilising the financial markets. Implementing a medium-term framework that limits vulnerabilities and restricts spillovers could be more successful.
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