This paper addresses the issue of surge in capital inflows into a relatively open emerging economy. One of the constraints in dealing with surges is that much of the theoretical analysis is motivated by developed economies with well developed capital and money markets, while emerging economies...

This paper empirically examines India's economic growth experience during 1960-2004, focusing on the post 1973 acceleration. Careful attention is paid to data quality. The analysis focuses on two unusual dimensions of India's experience -- the concentration of growth in services production, and...

The paper examines the principles on which a reform of a quota based global economic institution like the International Monetary Fund (IMF) must be based, taking account of both the relative economic power of countries and the need for voice and representation of the poor countries. These...

The article reviews and draws lessons from the experience of fast growing economies including a sub-set of these termed High Growth Economies (HGEs) with a decadal rate of over 7 per cent. It then reviews the history of the Indian growth acceleration following the reforms of the 1990s and its...