This paper examines how unhedged currency exposure of firms varies with changes in currency exibility. A sequence of four time-periods with alternating high and low currency volatility in India provides a natural experiment in which changes in currency exposure of a panel of firms is measured,...

In this paper, a new framework for analyzing corruption in public bureaucracies is provided. The standard way to model corruption is as an example of moral hazard, which then leads to a focus on better monitoring and stricter penalties with the eradication of corruption as the final goal. An...

A reduced form model where banks can pursue other goals than profit maximization is presented. This allows us to test for behavioral changes of banks over time. This model provides a framework to evaluate whether moral hazard issues may plague banks receiving state aid, which concerns greatly...

The credit market implications and real effects of one the largest borrower bailout programs in history are studied, enacted by the government of India against the backdrop of the 2008–2009 financial crisis. The stimulus program had no effect on productivity, wages or consumption, but led...

This paper provides a synthesis of the experiences of six countries (Brazil, China, India, Malaysia, Mexico, and Nigeria) in enhancing food security of their population. Approximately 46 per cent of the undernourished people in the world live in these six countries, which together account for 43...

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 context, higher education as well as research and development (R&D) have long since ceased to be purely the domain of the developed Western economies. Numerous regions of the world, some in the emerging markets in particular – the often-cited BRIC countries – are catching...

The the population dynamics of the 21st century is shown here.

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.