MONEY AND FINANCE IN THE INDIAN ECONOMY MIHIR RAKSHIT Księgarnia

This volume analyses the diverse and often unexpected financial developments during the last 15 years of the post-reforms period. The essays provide an overview of the challenges faced by monetary and fiscal authorities under the rapidly changing domestic and international economic environment.

With a focus on fiscal imbalances; monetary-cum-exchange rate policies, and management of cross-border capital flows, the volume deals with a wide-range of issues:

The transition from a period of credit rationing to a situation of demand constraint in the loan market Fiscal problems with reference to the rising revenue and fiscal deficits such as debt financing, food subsidy and stock-piling of foodgrains, and fiscal correction measures.

External sector developments and their inter-relationship with other sectors of the macroeconomy.

The contribution of the banking sector towards economic growth and containment of financial volatility.

The volume provides a fruitful analysis of these problems through the identification of inter-sectoral linkages in terms of a coherent macro-theoretic framework.

Mihir Rakshit is Director, Monetary Research Policy, ICRA Limited. Earlier he was Professor, Economic Research Unit, Indian Statistical Institute, Kolkata. He has also held teaching and research assignments at Presidency College, Kolkata, the Delhi School of Economics, and the Erasmus University, Rotterdam, the Netherlands.

Table of Contents

Tables,

Figures, and Box,

Acknowledgements,

List of Abbreviations;

1.Introduction;

2. Money and Public Finance under Structural Adjustment;

3. Restoring Fiscal Balance through Legislative Fiat;

4. Some Public Economics of Food Subsidy and Buffer Stock Operations;

5. Perspectives on Correcting Fiscal Imbalances in the Indian Economy;

6. Some Analytics and Empirics of Fiscal Restructuring in India;

7. External Capital Flows and Foreign Exchange Reserves;

8. Using Forex Reserves for Infrastructural Investment;

9. On Liberalizing Foreign Institutional Investments;

10. Banking under the Emerging Economic Environment;

Author Index; Subject Index

308 pages, Paperback

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