Prachi Mishra is a senior economist in the Research Department at the IMF. She is currently on leave from the IMF as Senior Economist in the Economic Advisory Council to the Prime Minister of India. She received a Ph.D. in Economics from Columbia University from 2004, and a Masters from the Delhi School of Economics in 1999. Prior to working in the Research Department at the IMF, she worked in the Western Hemisphere and Fiscal Affairs Departments. She also worked for a year in the office of the First Deputy Managing Director, Stanley Fischer.
Her research interests are in the areas of international economics, macroeconomics and political economy. Her current research has focused on the political economy of the financial crisis, monetary transmission in developing countries, and macro implications of exchange rate and international labor movements. Her country mission and review experience spans across both advanced and developing countries, and includes Austria, Caribbean, India, Laos, Malawi, Nigeria and Pakistan. She’s a recipient of the Export-Import Bank of India International Economics Development Research Annual Award for her thesis completed at Columbia University, and IMF awards for Innovative Research in Political Economy, International Trade and Exchange Rates and for Exceptional Contribution to Low-Income Country Work.
Monetary policy in India and other developing countries
03 Sep 2012
Setting interest rates and controlling inflation is an altogether different challenge in countries like India. This column argues that in many developing countries, the financial system is still too underdeveloped for monetary policy to have a reliable effect on the economy, raising doubts over several of today’s policies.
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