Contributor : Profile
Ajay Shah studied at IIT, Bombay and USC, Los Angeles. He has held positions at the Centre for Monitoring Indian Economy (Bombay), Indira Gandhi Institute for Development Research (Bombay) and the Ministry of Finance, and now works at NIPFP. His research interests include policy issues on Indian economic growth, open economy macroeconomics, public finance, financial economics and pensions. In the past decade, he was extensively involved in the policy process in the reforms of the equity market and the New Pension System.
Posts by Ajay Shah
To deal with India’s banking crisis, Prof. Ajay Shah of NIPFP recommends a two-pronged strategy – more financing for firms, and RBI reforms.
- Ajay Shah
- 17 May, 2017
The demonetised Rs. 1,000 and 500 notes were 86% of the total volume of cash in India. In this article, Ajay Shah, Professor at NIPFP, argues that if a significant scale of firm failure were to come a...
- Ajay Shah
- 21 November, 2016
Given the importance of insurance, and the regulatory push towards improved disclosures
As foreign currency borrowing by Indian firms has been increasing, concerns have surfaced about rising associated risks. Hence, recent policy changes seeking to make the regulatory regime simpler and...
The high growth rates visible in the new GDP data suggest that the recession which began in the first quarter of 2012 has now ended. Based on analysis of data on firms, investment and Balance of Paym...
- Ajay Shah
- 04 September, 2015
This project analyses the pattern of external borrowing by Indian firms, an exercise that has as yet not been carried out. It identifies possible drivers of such borrowing.
Emerging market policymakers are concerned about the effects of foreign portfolio flows on financial stability. This column focuses on the behaviour of investors in extreme events, allowing for the po...
Emerging market policymakers have been concerned about the financial stability implications of financial globalisation. These concerns are focussed particularly on behaviour under stressed conditions.
Are capital controls the right way to manage an economy? This column looks at what we can learn from India’s experience, where capital controls have never been fully dismantled.
Does Foreign Institutional Investment in India Increase Financial Vulnerability? An Empirical Investigation Using an Event Study Approach
Emerging market policymakers are concerned about the effects of foreign portfolio flows on financial stability. Do tail events in the home country trigger off extreme responses by foreign investors an...