During the recent period, many countries compete with each other to attract foreign investment. When MNCs invest in a host country, it is assumed that a part of their technology spills to the host country firms. But empirical studies on spillover effects of FDI have failed to find robust...

The paper attempts to explore the technology spillover effects of Foreign Direct Investment (FDI) in Indian manufacturing industries across different selected clusters in India. To measure the spillover effect to domestic firms in a particular cluster, a model is used that combines an innovative...

The Financial Crisis of 2007-2008 and the Great Recession of 2007-2009 are now in the past. Again there was the debt crisis of 2010-11. During the worst of the recent financial crisis/Great Recession many observers made comparisons between that event and the Great Depression. The lecture...

This paper articulates a model of industrial production in which technologies are of continuous-input continuous output-type. It is shown that the model nevertheless has all the essential properties of the usual point-input point- output Sraffa system.

The Reserve Bank released the document “Macroeconomic and Monetary Developments: First Quarter Review 2008-09†to serve as a backdrop to the First Quarter Review of Annual Policy Statement for 2008-09.

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...

Part I of the Budget speech by Finance Minister

As we celebrate 60 years of political independence and take pride in our dynamic private sector, our remarkable IT successes and all the other usual dimensions of success, let us remind ourselves that a great deal remains to be done to improve the foundations of India’s human resources...

This paper develops an index for measuring the economic power of governments viewed as entities in themselves. The basic idea is to encapsulate the economic representative power of a nation’s government in the international arena in as simple and parsimonious a manner as possible. For...

The State of the World’s Children 2009 focuses on maternal and neonatal health and identifies the interventions and actions that must be scaled up to save lives.