On current economic conditions in India; articles previously published in various periodicals.

In this book, Sanjaya Baru, one of India’s most respected commentators on political and economic issues, pays close attention to the strategic consequences of India’s increasingly impressive economic performance. The new turn in India's economic policies and performance in the last decade of the twentieth century; the success of Indian enterprise in the post-WTO world; the emergence of a confident professional middle-class; a demonstrated nuclear capability; and the resilience of an open society and an open economy, in the face of multiple and complex challenges, have all shaped India's response to the tectonic shifts in the global balance of power in the post-Cold War era. In this collection of academic essays and newspaper columns, Baru explores the business of diplomacy and the diplomacy of business in a rising India. The role of India's cultural and intellectual 'soft power' in shaping global perceptions of India are examined. The book offers a panoramic view of the geopolitics and the geo-economics of India's recent rise as a free market democracy, and as such will interest both experts and lay readers.

From Greece scrambling to meet Eurozone austerity measures to America’s sluggish job growth, there is every indication that the world has not recovered from the economic implosion of 2008. And for many of us, the details of what led to the recession—and why it has continued—remain murky. Economic historian Larry Allen clears up the subject in The Global Economic Crisis, offering an insightful and nonpartisan chronology of events and their consequences. Illuminating the interlocked economic processes that lay beneath the crisis, he analyzes the changing nature of the global financial system, central bank policies, housing bubbles, deregulation, sovereign debt crises, and more. Allen begins the timeline with the economic crisis in Japan in the late 1990s, asking whether Japan’s experience could be an indicator of the outcome of the recession and what it can teach us about managing a sluggish economy. He then takes a comparative look at the economies of Brazil, China, and India. Throughout, he argues that many elements have contributed to the ongoing crisis, including the introduction of the euro, the growth of new financial instruments such as securitization, collateralized debt obligations and credit default swaps, interest rate policies, and the housing boom and subprime mortgage fiasco. Lucid and informative, The Global Economic Crisis provides an impartial explanation to anyone seeking to understand the current state—and future—of the world’s economy.

This book discusses the Indian economic crisis and brings out what went wrong and the correction necessary for getting the economy back to high growth trajectory, leading to economic transformation. To do so, the book covers trends in performance of Indian economy since the Global Financial Crisis to the COVID-19 effect, bringing out factors that have determined the same. The book questions the approach to macroeconomic policy of both the RBI and the government and brings out what it takes for macroeconomic policy to be supportive of high growth. It contains revealing contrasts with East Asia and China, although India has the same potential to grow with an expansion of manufacturing. Overall, it argues that macroeconomic policies (as much as structural, industrial, and trade policies) have been deficient and even good initiatives on the industrial policy and trade flounder for the lack of a strategic approach to macroeconomics. The book highlights the special opportunities present in an emerging economy with vast under and utilised labour and the macroeconomic policy initiatives that can take advantage of this key feature. It covers the macroeconomic data on growth using multiple indicators, then the external shocks and the internal policy measures/responses; besides, GVA/GDP, credit, exports, external transactions, interest and policy rates, yields, exchange rates, money, capital flows, indices of industrial sector, price indices and inflation, government expenditures, tax rates, fiscal deficits, market uncertainty measures to present a holistic picture of the economy and the shocks and policy actions that have followed. The book uses an innovative method of presentation and the consistency of the trends/stances of both monetary and fiscal policy using these large number of variables. It discusses the debate on overestimation of GDP/GVA growth estimates over the years from 2011-12 to about 2016-17 comprehensively. There is special coverage of GST with a comparison with China. Coverage also includes performance since the COVID-19 crisis again using a large number of indicators and an explanation for the same in terms of the limitations of the government’s initiatives to counteract. The book is a quick and ready reference of what has happened in macroeconomic terms to those interested in the relevant facts. It is of interest to international economists, policy analysts, and investors whose need to understand that the Indian economy in macroeconomic terms and in terms of the stances and penchant of the government and the RBI is of value.

After tracing the causes of the global financial crisis, the book focuses on two fundamental systemic issues connected with its manifestation: financial-sector regulation and the problem of the dollar-centric international monetary system, both of which have been widely cited among the important factors leading to the 2008 financial crisis. The important analytical question of monetary policy transmission during the crisis is discussed in depth with the help of appropriate econometric models. The effectiveness of India’s monetary policy during the crisis is examined by specifying an econometric model, and the impact of the crisis on the Indian stock market is modelled on the basis of risk-enhancing and risk-mitigating features. In closing, the impact of the crisis on real sectors of the Indian economy is analysed in detail.

A crucial commentary on the worst global economic crisis since the Great Depression, this book argues for ‘Three Rs’ — Regulation, Responsibility and Radicalism — i.e., state regulation of finance, state responsibility towards society, and radical social movements to fight for economic justice. It will interest scholars and researchers in international political economy, politics, international relations, and economics, as also policymakers and the informed general reader.

Proposing international trade as a path for achieving the SDGs, this curated collection envisions a more equitable and sustainable world, one where the benefits of international trade are fairly distributed, where economic crises are met with resilience and innovation and where the SDGs are not just aspirations but lived realities.

Study of the crisis in the economy and of economic policy of India - covers economic theory, savings, investment, economic planning for economic growth, inflation, and the possibility of adopting a socialist system. References and statistical tables.

India’s neighbourhood has witnessed crucial developments in the last decade: complex security challenges, looming economic crises, socio-political unrest, border clashes, China’s expanding engagement, India’s rising profile, and the COVID-19 pandemic. Over the last eight years, India has advocated the “Neighbourhood First” policy which ‘focuses on creating mutually beneficial, people-oriented, regional frameworks for stability and prosperity’. India’s neighbourhood presents complex dynamics, and the challenges demand attention and serious consideration in its policy options. The versatile neighbourhood also offers opportunities for India to extend cooperation at the regional level and address common strategic, economic, social and security concerns. India’s Neighbourhood: Challenges and Opportunities with insights of leading experts is a timely contribution to academia, practitioners, and keen readers. The book fills a critical void in the domain of neighbourhood studies and comprehensively analyses India’s bilateral relations with Afghanistan, Bangladesh, Bhutan, China, Iran, the Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka. The book assesses the traditional security challenges like terrorism, examines crucial non-traditional security issues (hydro-politics and climate change), scans the emerging dynamics of rare earth elements and evaluates the wider possibilities of India’s role in stirring regional cooperation in these key areas. Print edition not for sale in South Asia (India, Sri Lanka, Nepal, Bangladesh, Pakistan and Bhutan)