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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...

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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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Household savings and India's current account deficit

India’s current account deficit widened consistently in the post-crisis period between 2008-09 and 2012-13. This column finds that while the public sector was the key driver of this trend in the fi...

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The rolling global crisis and India

We are in the midst of a global growth crisis that began in 2007. In this article, Ashoka Mody, Professor of International Economic Policy at Princeton University, contends that the pervasive global ...

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Has the recession which began in 2012 ended?

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...

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India's monetary policy in unusual times, uncharted waters

There is a lot of discussion of the right course of monetary policy for India. In this article, India’s Chief Economic Adviser Arvind Subramanian argues that the country’s real policy interest ra...

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Road to riches: An evaluation of India's rural road programme

Access to roads is believed to be essential for economic growth and poverty alleviation. This column evaluates the short-term impact of Pradhan Mantri Gram Sadak Yojana – India’s flagship rural r...

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India's Monetary Policy Committee: Formation blues

The government and RBI are in the process of finalising the structure of India’s Monetary Policy Committee. In this article, Amartya Lahiri, Professor of Economics at the University of British Colu...

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Political distortions in the Indian electricity sector

While political interference is believed to be a major problem plaguing the electricity sector in India, there is little empirical evidence on the existence of political distortions or on their econo...

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Land acquisition Act: Addressing both justice and prosperity

The Modi government’s land acquisition ordinance did away with the consent and social impact assessment requirements for private projects in certain sectors under UPA’s 2013 land Act. In this art...

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How interest rates affect financial decisions of Indian households

RBI has cut interest rates three times this year so far. While rate cuts are welcomed by the Indian corporate sector, their impact on households is less discussed. This column analyses the relationsh...

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India's macroeconomic outlook: Is uncertainty the new paradigm?

The provisional growth estimate for India for 2014-15 is 7.3%, higher than 6.9% growth in 2013-14. In this article, Bornali Bhandari – a Fellow at the National Council of Applied Economic Research ...

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Rise of informality in India's tradable manufacturing sector

The vast informal sector in India affects everything from poverty to growth. This column presents new facts on how Indian job growth in manufacturing is concentrated in informal tradable industries, ...

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Land acquisition, industrialisation, and displaced households

Does industrialisation on acquired land benefit those displaced? Evaluating the long-term livelihood effects of the first Special Economic Zone in the state of West Bengal, this column finds that the...

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Pranab Bardhan

University of California, Berkeley

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Ashok Kotwal

Editor-in-Chief, I4I; University of British Columb

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Quy-Toan Do

World Bank

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Gil Shapira

World Bank

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Lin Ma

Singapore Management University

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Jed Friedman

World Bank

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Andrei Levchenko

University of Michigan

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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...

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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...

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