The ever-growing number of preferential trade agreements (PTAs) is a prominent feature of international trade. The World Trade Report 2011 describes the historical development of PTAs and the current landscape of agreements. It examines why PTAs are established, their economic effects, and the...

The existing literature on Indian growth finds no evidence of convergence across states. This represents a puzzle given the relatively free flows of capital, labor and commodities across state borders. A new data set of district level income and socio-economic data is used to explore the...

This paper contributes to two strands of literature on empirical models of trade flows and trade policy. The first and the older strand is that of gravity models of bilateral trade flows going back to Hans Linneman (1966) and Tinbergen (1962) and its recent applications, particularly by Adams et...

A brief outline of the economic and financial structure of the State and the various financial inclusion initiatives taken by the Reserve Bank is highlighted. But there are some policy challenges in sustaining the growth momentum. [Speech delivered at the G. B. Pant University of Agricultural...

Goa is celebrating the Golden Jubilee Year of its Liberation. The recent economic achievements of the state are highlighted. The economic and financial structure of the state as well as the various financial inclusion initiatives taken by the Reserve Bank are outlined. Policy challenges ahead...

The trends in food inflation over the past 60 years are given. Having thus set the context, the factors driving structural food inflation, which should give us a perspective of the underlying dynamics and the nature of the challenge are also brought out. The policy measures for addressing the...

This paper explores the key reasons behind the movements in the terms of trade and the real net gain and loss from trade in the long run. Like some selected Asian countries (Vietnam, China and South Korea) except India, the terms of trade of Bangladesh has been in falling almost continuously....

This paper analyses the impact of domestic and external shocks on the Indian economy. A macro-modelling framework is developed that evaluates the impact of two domestic shocks (rainfall shortfall and fiscal profligacy) and three external shocks (oil price hike, world trade shock and capital flow...

Nine preliminary lessons from the Great Recession for monetary and financial policies are presented. [3rd P. R. Brahmananda Memorial Lecture].

This paper formulates a model of exchange rate determination that describes the market processes by which the foreign exchange markets are cleared and international receipts of countries are brought into equality with their international payments. The model is capable of being explicitly solved...