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Posts by Ila Patnaik

Union Budget 2018: Not as expansionary as appears at first blush

In this article, Ila Patnaik assesses the implications of the recently announced Union Budget for inflationary expectations and monetary policy.

When higher volatility is good news

Conventional wisdom suggests that access to financial services such as banks and bond markets, providing savings and borrowing instruments, allows smoothing consumption over lifetime, irrespective of...

Foreign currency borrowing by Indian firms: What do we know?

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...

Foreign Borrowing by Indian Firms: Implications for Growth and Macroeconomic Stability

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.

Where is India's growth story headed?

The global financial crisis and domestic policy paralysis led to a decline in firms’ investment activities and investors’ business confidence in India. Could this have affected the economy’s lo...

Foreign investors under stress: Evidence from India

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...

Foreign investors under stress: Evidence at the firm level

Emerging market policymakers have been concerned about the financial stability implications of financial globalisation. These concerns are focussed particularly on behaviour under stressed conditions.

Capital controls in India: Did they work?

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...