History Of Monetary Policy In India Since Independence
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History Of Monetary Policy In India Since Independence
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Author : Ashima Goyal
language : en
Publisher: Springer
Release Date : 2014-07-16
History Of Monetary Policy In India Since Independence written by Ashima Goyal and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-16 with Business & Economics categories.
The book discusses Indian post-independence monetary history in the context of the country’s development and the global changes of the period. The conceptual framework used is the SIIO (Structure, Ideas, Institutions and Outcomes) paradigm. That is, structure and ideas become embedded in institutions and affect outcomes. Narrative history, data analysis and research reports demonstrate the dialectic between ideas and structure with respect to monetary history, aspects of India’s development, and the global institutions and events that impacted monetary choices. The history of the economy and of the global changes that affected it covers a time when major changes took place both in India and internationally. India’s greater openness is important both for it and for the world, but it occurred at a time of major global crises. How did these impact monetary choices and how did the latter help India navigate the crises while maintaining its trajectory towards greater liberalization? The book explores these and other relevant but under-analyzed questions. The initial combination of ideas and structure created fiscal dominance and made monetary policy procyclical. An aggregate supply-and-demand framework derived from forward-looking optimization subject to Indian structural constraints is able to explain growth and inflation outcomes in the light of policy actions. Using exogenous supply shocks to identify policy shocks and to isolate their effects, demonstrate that policy was sometimes exceedingly strict despite the common perception of a large monetary overhang. Surges and sudden stops in capital flow also constrained policy. But the three factors that cause a loss of monetary autonomy—governments, markets and openness—moderate each other. Markets moderate fiscal profligacy and global crises moderate market freedoms and ensure openness remains a sequenced and gradual process. The book argues greater current congruence between ideas and structure is improving institutions and contributing to India’s potential.
Money Banking And Finance In India
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Author : Rajinder Kumar Uppal
language : en
Publisher:
Release Date : 2011
Money Banking And Finance In India written by Rajinder Kumar Uppal and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Capital market categories.
Money, banking, and finance are at the heart of an economic system. This book examines the evolution and present structure of the monetary, banking, and financial system of India, with a focus on post-1991 period. The book is organized into three parts. Part I deals with forms and functions of money (including e-money), the role of the Reserve Bank of India (RBI) in monetary and credit management, and the evolution of monetary policy in India since independence in 1947. Part II describes and critically examines the functioning of various banking institutions, covering: commercial banks, regional rural banks, urban co-operative banks, rural co-operative credit institutions, and development banks. Three additional financial organizations are covered, including non-banking financial companies, mutual funds, and insurance organizations. Part III begins with the role of the financial system in economic development. It traces the evolution of India's financial system since independence and explains its present structure. It focuses on the reform measures introduced in the money market, government securities market, capital market, corporate debt market, credit market, and foreign exchange market.
Monetary Problems And Monetary Policy In India Since Independence
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Author : Green Onyekaba Nwankwo
language : en
Publisher:
Release Date : 1965
Monetary Problems And Monetary Policy In India Since Independence written by Green Onyekaba Nwankwo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1965 with categories.
Monetary Banking And Financial Developments In India
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Author : Niti Bhasin
language : en
Publisher:
Release Date : 2009-01-01
Monetary Banking And Financial Developments In India written by Niti Bhasin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Business & Economics categories.
The present book explains and examines at length the changes which have swept India's monetary, banking and financial sectors since Independence in 1947, with focus on post-1991 period. The book is organised into 8 parts. Part I deals with money, monetary policy, globalisation and changing functions of central banks world-wide. It also focuses on Reserve Bank of India (RBI) and its monetary and credit policies, particularly in the context of price stability and flow of credit to priority sectors of the economy. Monetary policy reforms in India since 1991 are also covered in this part of the book. Part II traces the evolution and the present status of various financial intermediaries in India . . .
Monetary And Currency Policy Management In Asia
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Author : Masahiro Kawai
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Monetary And Currency Policy Management In Asia written by Masahiro Kawai and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
Asian economies strengthened their monetary and currency management after the Asian financial crisis of 19971998, and came through the global financial crisis of 20072009 relatively well. Nevertheless, the recent global crisis has presented new challenges. This book develops recommendations for monetary and currency policy in Asian economies aimed at promoting macroeconomic and financial stability in an environment of global economic shocks and volatile capital flows. Monetary and Currency Policy Management in Asia draws lessons from crises and makes concrete macroeconomic policy recommendations aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas addressed are: monetary policy measures, both conventional and unconventional, to achieve both macroeconomic and financial stability; exchange rate policy and foreign exchange reserve management, including the potential for regional cooperation to stabilize currency movements; and ways to ease the constraints on policy resulting from the so-called 'impossible trinity' of fixed exchange rates, open capital accounts and independent monetary policy. This is one of the first books since the global financial crisis to specifically and comprehensively address the implications of the crisis for monetary and currency policy in emerging market economies, especially in Asia. Presenting a broad menu of policy options for financial reform and regulation, the book will be of great interest to finance experts and policymakers in the region as well as academics and researchers of financial and Asian economics as well as economic development.
Macroeconomics And Markets In Developing And Emerging Economies
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Author : Ashima Goyal
language : en
Publisher: Taylor & Francis
Release Date : 2016-11-03
Macroeconomics And Markets In Developing And Emerging Economies written by Ashima Goyal and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-03 with Business & Economics categories.
The book presents and further develops basic principles and concepts in international finance and open economy macroeconomics to make them more relevant for emerging and developing economies (EDEs). The volume emphasises the necessity of greater knowledge of context as populous Asian economies integrate with world markets, as well as the rapidly changing nature of the area due to rethinking after the global financial crisis. It addresses a host of themes, including key issues such as exchange rate economics, macroeconomic policy in an open economy, analytical frameworks for and experience of EDEs after liberalisation, the international financial system, currency and financial crises, continuing risks and regulatory response. This book will be useful to scholars and researchers of economics, especially in macroeconomics, business and finance and development studies.
The Impacts Of Monetary Policy In The 21st Century
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Author : Ramesh Chandra Das
language : en
Publisher: Emerald Group Publishing
Release Date : 2019-09-02
The Impacts Of Monetary Policy In The 21st Century written by Ramesh Chandra Das and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-02 with Business & Economics categories.
The Impacts of Monetary Policy in the 21st Century illustrates the effect of financial policies upon global economic indicators, with special reference made to issues effecting East Asian nations generally and with a particular focus on Indian economic development since 2000.
Managing The Macroeconomy
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Author : Ramkishen S. Rajan
language : en
Publisher: Springer
Release Date : 2015-08-04
Managing The Macroeconomy written by Ramkishen S. Rajan and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-08-04 with Political Science categories.
While offering many growth-enhancing opportunities, India's ever-increasing integration with the world economy has given rise to a host of new challenges in managing the economy. This book provides an up-to-date empirical assessment of some of India's crucial policy challenges pertaining to its monetary and external sector management.
Pump Priming And It S Impact On Inflation And Currency A Study Of China India And The Usa
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Author : Dr. V.V.L.N. Sastry
language : en
Publisher: Idea Publishing
Release Date : 2020-04-11
Pump Priming And It S Impact On Inflation And Currency A Study Of China India And The Usa written by Dr. V.V.L.N. Sastry and has been published by Idea Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-04-11 with Business & Economics categories.
China uses pump priming to stimulate its economy, however sterilization, which involves the control of money in circulation to tackle inflation, enables China to ensure that pump priming does not have a negative influence on the long-term performance of the economy. Further, since China is an export-based economy, the country is able to implement monetary and fiscal policies that reduce the expansionary pressures of pump priming on the economy. China is facing a backlash from various countries especially the U.S. forcing it to stabilize the value of the Renminbi. In India, the expenditures are disbursed through ministries of the central government to the state governments to facilitate the achievement of a certain objective. Therefore, it is pertinent to claim that the plans detail the pump priming initiatives that India would use during a specific period. However, the impact of the same on currency and inflation in India is just a one-time event and not a continuous one like in some other countries. India’s fiscal budgeting system poses a threat to the economy. The budget of the central government creates a debt trap. It is inflexible due to politically irreducible commitments made by the government on provision of subsidies, and various freebies. Further, the state governments depend on the cash transfers and grants provided by the central government and add to this their own share of subsidies and freebies. This results in a limited focus on revenue generating assets. In the USA, President Roosevelt advocated the use of pump priming to tackle the depression. This involved providing direct financial relief to the poor to enable them to make their purchases and this to a large extent brought the Great Depression to an end. Further, as a second measure, a raft of measures, policies, and programs were put in place which brought considerable economic relief to common households. Prior to Roosevelt, President Hoover, to tackle the Great Depression, ensured the creation of the Reconstruction Finance Corporation (RFC) which provided financial support to state and local governments and also provided loans to railroad projects, banks, and other businesses to prevent them from going bankrupt. Among all recessions, the 2008 financial crisis is regarded as the worst since the Great Depression. The onset of financial crisis caused President George W. Bush’s administration to pass a $152 billion stimulus package in the form of tax rebates in 2008. It was amidst this financial crisis that President Obama took over and his administration allocated $787 billion to tackle the fallout from the financial crisis. The conventional stimulus package that targeted the real economy was slightly more than $1 trillion. The unconventional measures that provided direct assistance to the financial sector via TARP I and TARP II allocated three times the fiscal stimulus that targeted the real economy, that is, $3 trillion. At the end of the financial crisis, most parties acknowledged that pump priming did play a major role in improving public confidence and that the impact of the fiscal policy on the economy is dependent on the country or situation.
Political Economy Of Contemporary India
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Author : R. Nagaraj
language : en
Publisher: Cambridge University Press
Release Date : 2017-04-04
Political Economy Of Contemporary India written by R. Nagaraj and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-04 with Business & Economics categories.
""Deals with the issues at the intersecting domains of economics and politics"--Provided by publisher"--
