|
Dr.
K.N. Raj  |
| Aug
9th 2010, Prabhat
Patnaik |
|
|
In
a tribute to Dr. K.N. Raj the author remembers him as
an iconic figure, a giant of a person both in terms
of intellect and humanity. He notes that a shift in
Dr. Raj's overall trend of thought from an emphasis
on constraints on the supply side to the problem of
demand is one of his most outstanding, but little-known,
contributions. |
|
| Fiscal
Policy and Global Growth |
| Jul
27th 2010, C.P.
Chandrasekhar and Jayati Ghosh |
|
|
Across
the world governments are debating whether it is time
to exit from their fiscal response to the global crisis
and return to austerity and fiscal consolidation. This
may be premature, since the question whether there was
indeed such a generalized and adequate fiscal response
that triggered a recovery remains unanswered. |
|
| A
Man of Quality |
| Jun
23rd 2010, Prabhat
Patnaik |
|
|
In
this tribute, Jyoti Basu is remembered as a person who
combined three qualities: “naturalness”; complete freedom
from “cheapness”, duplicity and mendacity; and faith
in the masses, in full measure. He also had that rare
intellectual courage, which enables a person to unite
even against one's bitterest opponents when the interests
of the people so demands. |
|
| The
Good News about Health in West Bengal |
| Jun
15th 2010, C.P.
Chandrasekhar and Jayati Ghosh |
|
| This
article shows how the state of West Bengal has recently
experienced some of the fastest improvements in basic
health indicators among all the major states in the
country. It is argued that these recent improvements
are attributable to the general improvement in institutional
conditions in the countryside, the extension of better
sanitation facilities to rural areas, as well as the
implementation of targeted schemes for maternal nutrition. |
|
| The
Travails of the Rupee |
| Apr
15th 2010, C.P.
Chandrasekhar and Jayati Ghosh |
|
| The
significant appreciation of the rupee in recent months,
driven by a surge in foreign portfolio capital inflows,
has revived old and generated new problems for macroeconomic
management. This signals once again that the need is
not for further capital account liberalisation but for
the imposition of additional controls on the cross-border
flows of capital. |
|
| FDI
and the Balance of Payments in the 2000s |
| Mar
10th 2010, C.P.
Chandrasekhar and Jayati Ghosh |
|
| The
most quoted indicator of the success of economic reform
is the noticeable rise in the inflow of foreign direct
investment during the last decade and a half. However,
the available Indian evidence on the performance of
foreign direct investment companies suggests that their
balance of payments consequences are adverse. |
|
| Controlling
Food Prices |
| Feb
23rd 2010, C.P.
Chandrasekhar and Jayati Ghosh |
|
| Food
price inflation is one of the most critical economic
problems in the country today, and the ability to control
these prices quickly and effectively is one of the main
bases on which people will judge the performance of
this government. This article examines the recent pattern
of inflation in important food items and considers the
possible causes, including the growing distribution
margins. |
|
| The
Crisis and Employment in Asia |
| Feb
15th 2010, C.P.
Chandrasekhar and Jayati Ghosh |
|
| Despite
scepticism about its sustainability, evidence shows
that the crisis of 2008-09 has bottomed out and a recovery
is likely, driven by the fiscal stimulus offered by
governments across the world. But figures from the ILO
indicate that the impact of the stimulus on employment
appears uneven, with export dependent economies in Asia
too adversely affected. |
|
| Are
we Heading for Another Global Primary Commodity Price
Surge? |
| Jan
13th 2010, C.P.
Chandrasekhar and Jayati Ghosh |
|
| Following
the unprecedented volatility of global commodity prices
in 2007-08, it was widely predicted that the global
economic crisis would generate a dampening effect on
such prices. But the recent revival of prices especially
in some commodities suggests that this perception may
be premature. Examining recent trends in global commodity
prices and the reasons behind them, the article assesses
the prospects for prices in the immediate future. |
|
| Cloud
over Islamic Banking |
| Dec
26th 2009, C.P.
Chandrasekhar and Jayati Ghosh |
|
| The
large surpluses which accumulated with West Asian oil
exporters after the 1970s generated a demand for financial
products that were sharia-compliant. The Islamic financial
industry, which grew as a result, was seen as a different
and safer component of the global financial sector.
But the Dubai World debacle and much else suggests that
these judgments were not warranted. |
|
| The
Recovery in Asia |
| Nov
18th 2009, C.P.
Chandrasekhar and Jayati Ghosh |
|
| Asia's
recovery from the crisis has been remarkable, with the
aggregate evidence from the region pointing to a V-shaped
growth trajectory since the onset of the crisis. While
fiscal stimulus in some countries, especially China,
has been crucial both nationally and regionally, the
role of the revival in credit-financed private demand
should not be ignored. |
|
| Service
Exports in Developing Asia |
| Sep
10th 2009, C.P.
Chandrasekhar and Jayati Ghosh |
|
| Trade
in services has become an important source of foreign
exchange in many Asian developing countries. But it
is widely expected that they would also be adversely
affected by the global recession because a significant
proportion of service trade is destined towards the
banking and financial services industry of the US market
alone. However, the tourism industry so far does not
show any definitive evidence of declining trends, although
there are some changes in the geographical pattern of
tourist arrivals. |
|
| The
Threat of Drought-driven Inflation |
| Aug
24th 2009, C.P.
Chandrasekhar and Jayati Ghosh |
|
With
the government having declared that the country is faced
with a drought, attention has turned to predicting the
severity of its many effects. This article discusses
the likely impact of reduced agricultural production
on food prices, and therefore on real incomes and poverty
incidence. |
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