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When analyzing the appropriate response for monetary policy during a currency crisis it is important to keep in mind two distinct channels: (a) the impact of raising interest rates on exchange rates; and (b) the direct impact of exchange rate changes on output. The first pertains to the monetary...
Persistent link: https://www.econbiz.de/10005341684
For many decades, macro-policy in India was conducted in an environment with five key elements: Agricultural shocks rather than a conventional business cycle; A closed economy; deeply distortionary tax policy coupled with a fiscal crisis; financial markets that lacked speculative price discovery,...
Persistent link: https://www.econbiz.de/10005341747
The purpose of this study was to explore the role and importance of human resources for the scaling up of health services in low income countries. In the case studies, the following have been analyzed: (i) investigated the size, composition and structure of the current health work force; (ii)...
Persistent link: https://www.econbiz.de/10008462831
Persistent link: https://www.econbiz.de/10005487590
The increase in direct taxes has not been able to offset the decline that resulted from the reduction in customs tariff and decline in excise revenue. The task facing the policymakers now is to explore ways in which the tax ratio can be pushed up without going back on the basic elements of the...
Persistent link: https://www.econbiz.de/10005699030
The robust performance of the Indian economy continued during the second quarter (July-September) of 2005-06. According to the Central Statistical Organisation (CSO), the economy recorded a real GDP growth of 8.0 per cent in the second quarter of 2005-06 maintaining the momentum of growth in the...
Persistent link: https://www.econbiz.de/10005699085
It is interesting to note that nearly three decades of new paradigms in macroeconomic theory and policy have hardly gone beyond the ivory towers of the academic world. The extent to which a scientific discipline is open to new ideas and approaches is a measure of its health. The enrichment of...
Persistent link: https://www.econbiz.de/10005699108
There has been a very rapid rise since the early 1990s in foreign reserves held by developing countries. These reserves have climbed to almost 30 percent of developing countries' GDP and 8 months of imports. Assuming reasonable spreads between the yield on reserve assets and the cost of foreign...
Persistent link: https://www.econbiz.de/10005699170
* Repo Rate increased to 7.25 per cent from 7.0 per cent. * The flexibility to conduct overnight repo or longer term repo including the right to accept or reject tender(s) under the LAF, wholly or partially is retained. * Reverse Repo Rate, Bank Rate and CRR kept unchanged. * GDP growth forecast...
Persistent link: https://www.econbiz.de/10005699240