Every economy aspires to grow fast. Every government strives to maximize economic welfare of its citizens. However, some countries perform well, while some others lag behind. Several factors determine their performance. Some of the necessary conditions for an economy to do well are: a...

In this paper, we empirically investigate the episodes of currency market stress/crisis in India during the period 1992 – 2012 with the help of a monthly EMP index for India constructed for this period. For the purpose of this paper, we define currency market stress as “extreme pressure”...

The occurrence of extreme events in financial markets is a common phenomenon, so that there is need to design proper risk modelling techniques which can predict and measure the probability of such risky events. Extreme Value Theory (EVT) provides relevant statistical techniques to deal with...

This paper focuses on comprehensive measures of financial development which have been published by the World Economic Forum (WEF) since 2008. In 2009, the WEF ranked 55 countries including India on over 120 variables including institutional and business environment, financial stability, size and...

The daily movement of stock prices is no less than a conundrum for a layman who is unable to comprehend the reasons behind these gyrations. Apart from company specific factors, there are a number of macroeconomic and political factors affecting daily movements of stock prices. This article...

Automated trading through Direct Market Access (DMA) and Algorithmic Trading (AT) are set to become the dominant execution process in the near future. DMA has been permitted for institutional clients in India in April, 2008. This article talks about the advantages DMA has to offer and explores...

This paper looks at NDF Rupee market more closely, focusing on activity in these markets overtime and reasons for possible growth. It empirically tests the linkages between spot, domestic forward and NDF markets for Indian Rupee using Granger causality tests, cointegration tests and ARCH-GARCH...

This article discusses the role of CRAs in the Enron case and current sub-prime crisis and raises various regulatory issues thrown up by these episodes. It further attempts to bring together policy responses of regulators to the issues raised through the above episodes. It also looks at the CRA...