After surveying causes of the crisis and common features of the few emerging markets that were in trouble, the paper turns to the road ahead. Even with global agreement on policy stimulus, action was mostly national. Progress on other reform is yet to occur. The intellectual framework and...

The information theoretic concept of entropy is a useful tool in studying price manipulation in stock market. Sample entropy values computed for the price data of a scrip, for various trading days in the period during which the scrip is reported to be subject to price manipulation, prove to be...

Value-at-Risk (VaR) has been widely promoted by the Bank for International Settlement (BIS) as well as central banks of all countries as a way of monitoring and managing market risk and as a basis for setting regulatory minimum capital standards. The revised Basle Accord, implemented in January...

The temporal relationship between the equities market and the derivatives market segments of the stock market has been studied using various methods and by identifying lead-lag relationship between the value of a representative index of the equities market and the price of a corresponding index...

Economic development going well beyond growth has been the principal agenda of each and all of the governments in India since it became independent more than six decades ago. Many factors, including, in particular, the fact that India chose to follow a democratic political system and that the...