This paper reports the European experience with a basket currency, the ECU. The ECU was initially introduced as a reference unit and later became the anchor of the European Monetary System. Public policy was complemented by private sector initiatives and use of the ECU for denomination of...

The Indian economy reached the trillion US dollar GDP milestone in 2007 and joined other countries of the trillion dollar club, namely, the US, UK, Japan, Germany, China, France, Italy, Spain, Canada, Brazil and Russia. In fact, over the period 1960 to the late 1980s, India’s GDP in US...

The nature of the financial turbulence that happened recently in US and Europe, why it happened, where it happened, and the implications for central banks. Some of the forces that led up to and characterized the recent spate of events, the specific responses of central banks and some challenges...

Speech describes India’s experiences on ‘Inclusive Growth’ - a topic which is both current and close to the hearts of public policymakers and central bankers of emerging economies. [Independence Commemoration Lecture, 2008].

In this paper the evolution of beer consumption is analyzed between countries and over time. Historically, there have been major changes in beer consumption in the world. In recent times, per capita consumption has decreased in traditional “beer drinking nations†while it increased...

The article is a report of RBI Minister Duvvuri Subbarao on issuesing concerning the G-20 countries and also issues effecting all the countries collectively.

Over the last decade, the profile of central banks has gone up. First, we had the Great Moderation - a period of extraordinary benign macroeconomic environment globally, characterized by steady growth in advanced economies and accelerated growth in emerging economies, and low and stable...

Budget speech of Finance Minister.