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How open is India's capital account?

Although India began opening up its capital account in the mid-1990s, the approach towards financial liberalisation has been cautious. Tracing changes in the de-facto openness of the country’s capi...

  • Perspectives

India’s service-led economic growth

Structural transformation that involves a shift from agriculture straight to services, is a cause of concern to many scholars as an expanding service sector might be a pale substitute to technical pro...

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Business sentiments and labour markets

The Covid-19 pandemic and associated lockdowns have had a significant adverse impact on jobs and livelihoods. Using 2006-2021 data from a survey on business sentiments, this article examines fluctuati...

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Government securities market: Price discovery and the cost of Indian government borrowing

The government securities (G-Secs) market has substantial effects on other markets as the producer of risk-free interest rate benchmarks. Over 2017-18, there was a sharp rise in the interest rates of ...

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Agriculture and the Union Budget: policies and prospects

In this post, Shoumitro Chatterjee and Mekhala Krishnamurthy analyse the key proposals in the Union Budget 2019 pertaining to reforms in agricultural market, ease of doing business for farmers, and ag...

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Union Budget 2019: An attempt to address the economy’s stress points

In this post, Niranjan Rajadhyaksha contends that in the first Budget of the second Narendra Modi administration, Finance Minister Nirmala Sitharaman has made an honest attempt to address some of the ...

  • Perspectives

The great disinflation in emerging and developing economies

Emerging market and developing economies (EMDEs) have achieved a remarkable decline in inflation since the early 1970s. Whether EMDEs can continue enjoying the benefits of low inflation will depend on...

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Four lessons for developing countries from advanced economies’ past

In this post, Izvorski and Karakülah contend that comparisons between today’s developing countries and today’s advanced economies can provide aspiration but less so in terms of recommendations ab...

  • Perspectives

Firm survival in India: Status of firms formed over the last 30 years

The dynamic process of new firm formation and exit of weaker firms contributes to the evolution of industries and expansion of the economy. This article analyses the status of all new firms formed in ...

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Has China really outperformed India?

It is widely agreed that China has grown much faster than India, and that India has finally taken over in recent years. In this piece, Martin Rama benchmarks the growth performances of the two countri...

  • Perspectives

Is India’s ‘new’ investment cycle poised for upturn?

Recent statistics have drawn attention to the turning of India’s investment cycle since the second half of 2017-18. In this piece, Isha Gupta examines the different components of investment demand a...

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Does service quality predict households’ willingness to pay for electricity connections in rural India?

While rural electrification has been a high priority for governments in the developing world, the factors that make individual households more likely to pay for electricity have received insufficient ...

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Make in India: Why didn't the lion roar?

In this Perspectives piece, Prof. Nagaraj contends that ‘Make in India’ has failed to meet its objective of turning industry around. The government has seemed more concerned with improving India's...

  • Perspectives

Firm formation in India: The last 40 years

Research shows that entrepreneurship or new firm formation can be an important driver of economic development. This article studies the extent of new firm formation in India over the last 40 years and...

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Everything you know about cross-country convergence is (now) wrong

A quarter-century after the empirical growth literature set out to explain why poor countries are not catching up with rich ones, cross-country regressions have mercifully gone out of fashion. In this...

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Most Popular Macroeconomics Posts

Land in India: Market price vs. fundamental value

The Real Estate (Regulation and Development) Bill, 2015, is focused on protecting the few home buyers who can afford to buy homes but does not address the issue of high land prices, which is a very se...

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Land records and titles in India

Land ownership is broadly determined by access to a land title, which protects the rights of the title-holder, and impacts livelihoods, and industrial, economic, and social growth. However, land title...

  • Perspectives

Covid-19: Macroeconomic implications for India

Due to the measures adopted to prevent the spread of the Coronavirus Disease 2019 (Covid-19), especially social distancing and lockdown, non-essential expenditures are being postponed. This is causing...

  • Perspectives