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Ashok Kotwal
GST Explainer: Introduction
Posted on: 16 Oct 2017
Seventeen years after its framework was formed, India’s biggest tax reform – the goods and ... read on »
Introducing a new feature: ‘Explainers’
Posted on: 16 Oct 2017
Our day-to-day lives are tossed around due to economic changes, resulting sometimes from g ... read on »
On demonetisation
Posted on: 23 Dec 2016
On the evening of 8 November, the Prime Minister announced on national television that Rs. ... read on »
Introduction to e-Symposium: The GDP conundrum
Posted on: 16 Nov 2016
Ever since India’s Central Statistical Organisation came out with the new GDP series with ... read on »

Topic: Global Economy

Purchasing power parity: Some concerns
Gurbachan Singh
Posted on: 04/09/2017 09:41:09

In this article, Dr Gurbachan Singh discusses how it may be problematic to make international comparisons using PPP that is based on observed prices, and why effective prices should be used instead.
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How the American dream led to India’s IT boom
Gaurav Khanna , Nicolas Morales
Posted on: 29/05/2017 09:27:57

In the context of the ongoing global debate on migration policies, this column shows that the H-1B visa programme of the US had a powerful impact on the US IT sector, and played a prominent role in spreading the boom to India.
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Deconstructing the global wave of right-wing populism
Pranab Bardhan
Posted on: 08/02/2017 09:31:34

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.
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An economist’s view on recent domestic and world events
Dilip Mookherjee
Posted on: 31/01/2017 19:18:19

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.
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A comparison of automobile industries in India and China
Smita Miglani , Saon Ray
Posted on: 05/08/2016 12:36:06
Topics:   Trade , Global Economy


The automobile sector in both India and China developed due to waves of investment in these countries since the late 1980s. This column discusses how India’s automobile sector has grown differently from that of other developing countries, especially China. In contrast to China, India has relied much more heavily on domestically-grown lead firms and has hence, benefitted at a slower pace from global best practices.
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Fixit, not Brexit
Maitreesh Ghatak
Posted on: 24/06/2016 14:35:57
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.
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What does China’s ‘new normal’ mean for India?
Sharmila Kantha
Posted on: 17/06/2016 10:28:58

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.
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Painful spillovers from slowing BRICS growth
Raju Huidrom , Ayhan Kose , Franziska Ohnsorge
Posted on: 08/06/2016 10:19:03
Tags:   BRICS


A synchronous growth slowdown has hit emerging markets, especially the BRICS, since 2010, with the potential for significant adverse spillovers to the rest of the world. This column estimates that a 1 percentage point decline in BRICS growth could reduce global growth by 0.4 percentage points, and growth in other emerging markets by 0.8 percentage points, over the following two years.
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Can India beat this slowdown?
Jayan Jose Thomas
Posted on: 24/02/2016 09:33:10

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.
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A conversation on development - I
Kaushik Basu , Parikshit Ghosh
Posted on: 03/02/2016 09:36:07

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.

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How US interest rates influence the world economy
Eswar Prasad
Posted on: 23/12/2015 09:29:17
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.
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China’s fitful economic reforms
Eswar Prasad
Posted on: 07/12/2015 09:21:59

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.
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Responding to external shocks
Ashima Goyal
Posted on: 30/04/2015 00:00:00

Following the global financial crisis of 2007-08, the Indian economy was exposed to various shocks. While the major source of shocks was external, the effects were magnified by certain lapses in domestic policy. This column discusses what policies worked and what did not work to reduce excessive rupee volatility, and how the lessons were applied to prepare for any future shocks.
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Why the World Bank’s International Comparison Program has limited use for India
Ranjan Ray
Posted on: 20/02/2015 00:00:00

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.
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Exchange-rate pass-through by Indian and Chinese exporters
Sushanta Mallick , Helena Marques
Posted on: 15/04/2013 00:00:00
Topics:   Trade , Global Economy


How much does a change in the value of the rupee or the yuan affect the prices of exports from India and China? This column explores the factors behind this ‘exchange-rate pass-through’ and why it is different in the two countries.
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Why Nations Fail – And why India and China don’t fit the story
Arvind Subramanian
Posted on: 01/02/2013 00:00:00
Tags:   China


‘Why Nations Fail’ by Daron Acemoglu and James Robinson is becoming a must-read for development economists. But this column argues that the central thesis of the book fails to explain two big development stories: those of India and China.
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