Economic Policy Uncertainty and the Indian Economy PDF Download

Author: Raktim Ghosh
Publisher: Emerald Group Publishing
ISBN: 1804559369
Category : Business & Economics
Languages : en
Pages : 193

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Book Description
As businesses, consumers, and investors make key financial decisions amid Economic Policy Uncertainty (EPU), there is the danger that many might freeze investment projects and hiring, leading to contractions of the economy. This book examines this and makes important recommendations.

Author: Sanjai Bhagat
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
Economic and political commentators in India have repeatedly noted their concern about the recent slow-down in the Indian economy. Several recent papers have provided evidence that increase in the economic policy uncertainty (EPU) has played a significant role in the slow-down and the increase in unemployment in the U.S. In this paper we construct a measure of economic policy uncertainty for India and study its impact on the Indian economy. We find Indian GDP and Indian fixed investment are negatively related to EPU in India. More relevant, the economic magnitudes of these relations are quite significant. For example, if the economic uncertainty in India were to decrease today to the level observed in 2005, India's GDP growth would increase by 0.56%, and fixed investment growth would increase by 1.36%. Additionally, we document a negative correlation between the Bombay Stock Exchange (BSE) index and EPU in India.

Author: Bimal Jalan
Publisher: Penguin Books India
ISBN: 9780140260069
Category : India
Languages : en
Pages : 242

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Book Description
Nearly fifty years after independence, India remains a very poor country. It ranks near the bottom in terms of per capita income, and is similarly placed in the Human Development Index which measures social well-being. Economic growth in India has been less than half that of China or even other countries in Asia. And governments, at the Centre as well as in the states, are close to insolvency. The reason for our spectacular underachievement lies in the continuation of policies which had a certain validity as a response to the colonial experience, but which have long outlived their usefulness. The global economic scene has changed dramatically since they were formulated, and we must respond to the new realities. Bimal Jalan, the well known economist and present Governor of the RBI, in this lucid and well-argued book, makes a case for governments doing what they alone can best do, and less of what they cannot do effectively. 'One of the most lucid and lay-reader-accessible books to have been penned by an Indian economist.' --Outlook 'One cannot but agree with most of the suggestions made by Mr Jalan.' following the reforms process closely.' --Business India 'Jalan marshals a formidable array of facts to convey the general failure of the avowed mission of planning in India and the public sector's abysmal failure in particular.' --The Telegraph

Author: Mr.Ananthakrishnan Prasad
Publisher: International Monetary Fund
ISBN: 1484397010
Category : Business & Economics
Languages : en
Pages : 39

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Book Description
The growth-at-risk (GaR) framework links current macrofinancial conditions to the distribution of future growth. Its main strength is its ability to assess the entire distribution of future GDP growth (in contrast to point forecasts), quantify macrofinancial risks in terms of growth, and monitor the evolution of risks to economic activity over time. By using GaR analysis, policymakers can quantify the likelihood of risk scenarios, which would serve as a basis for preemptive action. This paper offers practical guidance on how to conduct GaR analysis and draws lessons from country case studies. It also discusses an Excel-based GaR tool developed to support the IMF’s bilateral surveillance efforts.

Author: Robert K. Dixit
Publisher: Princeton University Press
ISBN: 1400830176
Category : Business & Economics
Languages : en
Pages : 484

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Book Description
How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.

Author: K. R. Gupta
Publisher: Atlantic Publishers & Dist
ISBN: 9788171565719
Category : India
Languages : en
Pages : 364

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Book Description
During The Last Four Years, The Indian Economy Has Been Undergoing Phenomenal Changes. Licensing And Controls Are Being Dismantled. Nationali¬Sation Is Giving Place To Privatisation. Import Of Capital And Technology Is Being Liberalised. Terms And Conditions For The Import Of Capital And Technology Are Being Eased. Attractive Terms Are Being Offered To Multinationals To Induce Them To Set Up Production Units In India. Fast Progress Is Being Made In The Direction Of Making The Rupee Completely Convertible. Imports Have Been Liberalised; Import Duties Have Been Drastically Reduced; More And More Items Have Been Added To The Ogl List. Bank Interest Rates Have Been Freed.In Order To Make A Critical Analysis Of The Changes That Are Taking Place In Various Fields Of The Indian Economy, We Have Planned To Bring Out Five Volumes Covering Different Fields And Including Different Shades Of Opinions. The Present Is The First Volume Of The Planned Five Volumes. The Contributors Of This Volume Are Leading Experts In Their Respective Fields.It Is Hoped That The Book Would Be Found Useful By The Researchers And Students Of Economics, Businessmen, Government Executives Concerned With The Formulation And Execution Of Economic Policies, Parliamentarians And Legislators, And The General Readers Interested In Knowing The Changes That Are Taking Place In Our Economy.

Author: Perminder Khanna
Publisher: Atlantic Publishers & Dist
ISBN: 9788126904433
Category : Banks and banking
Languages : en
Pages : 440

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Book Description
The Book Advanced Study In Money & Banking : Theory & Policy Relevance In The Indian Economy Is A Complete Treatise On Banking And Global Financial Developments With Special Reference To Dmcs And The Indian Economy. It Provides An Invaluable, Up-To-Date And Refreshing Approach To Key Development Issues Pertaining To Monetary Theory, Banking, And Policy Matters. The Theoretical, Institutional And Historical Approaches Have Been Skilfully Integrated To Explore And Elucidate The Interrelationships Of Money And Banking And The Functioning Of The Economy As A Whole. The Analytical Study Of The Main Operational Ratios Of Banks For The Period 1998 To 2003 Gives An Overview Of The Bank Street Scenario. In Its Wide Perspective, The Book Includes A Comprehensive Study Of Banking And Information Technology, Mechanism Of International Payments, And International Monetary Policies And Monetary Cooperation. Above All, Against The Backdrop Of Economic Uncertainty And The Low Ebb In Economic Activity, Volatility In Stock Markets And Significant Fluctuations In Major Currencies Of The World, The Indian Monetary Policy During The Period Of 1952-2003 Has Been Extensively Discussed. Simple Graphs And Up-To-Date Economic Models Provided In The Book Enable The Readers To Have An Easy And Accurate Understanding Of The Subject.The Book Would Be Of Great Interest And Use For Students And Teachers Of Economics, Commerce And Business Management. The Bankers And Legislators Concerned With Monetary And Banking Policies Would Find The Book Highly Useful.

Author: Motilal Bicchal
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
This study constructs the macroeconomic uncertainty indices for an emerging economy, India, and considers other macroeconomic uncertainty indices to evaluate their relative effectiveness in terms of tracing the business cycles and finding out the transmission channels consistent with theory. The study estimates a series of VAR models using quarterly data to identify different uncertainty channels of aggregate demand and supply. The derived measures of uncertainty are higher around recessions and other structural changes like demonetization and GST implementation in India. Further, the empirical results show that the effects of uncertainty shocks to different domestic variables are consistent with the supply side of the real-option channel, the demand side of the investment channel, and the precautionary channel. Finally, to understand the effects of international spillover, this study measured the impact of US uncertainty on domestic variables, and the results suggest that US uncertainty has much more impact than domestic uncertainty, suggesting a significant international spillover effect of uncertainty in the Indian economy. These findings provide a holistic examination of how uncertainty affects macroeconomic activity from an emerging economy perspective. The results also suggest that the news-based economic policy uncertainty index, which is widely used in developed countries has not properly captured the state of economic uncertainty in India.

Author: Manabendu Chattopadhyay
Publisher: SAGE Publications Pvt. Limited
ISBN:
Category : Business & Economics
Languages : en
Pages : 224

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Book Description
Ten studies from a conference held in Calcutta in June and July 1993 critically appraise the Indian government's 1991 shift in economic development policy from large-scale government intervention in the crucial sectors to a primarily market- oriented approach. Among the topics are the role of planning in a liberalized economy, the Mahalanobis model, social welfare and deprivation, and the current macroeconomic stabilization program. Annotation copyright by Book News, Inc., Portland, OR

Author: Sylvia Frühwirth-Schnatter
Publisher: Springer Science & Business Media
ISBN: 0387357688
Category : Mathematics
Languages : en
Pages : 506

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Book Description
The past decade has seen powerful new computational tools for modeling which combine a Bayesian approach with recent Monte simulation techniques based on Markov chains. This book is the first to offer a systematic presentation of the Bayesian perspective of finite mixture modelling. The book is designed to show finite mixture and Markov switching models are formulated, what structures they imply on the data, their potential uses, and how they are estimated. Presenting its concepts informally without sacrificing mathematical correctness, it will serve a wide readership including statisticians as well as biologists, economists, engineers, financial and market researchers.