consumption volatility. Calibration of the model for pre and post financial reform in India provides support for the model's key …How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that … greater household access to finance smooths consumption. Evidence from emerging markets, where consumption is usually more …

The recent decline in gross domestic product (GDP) growth in India raised a debate about whether it is a trend or a … business cycle slowdown. We observe a cyclical downturn post-global financial crisis due to external and domestic conditions …. With global recovery strengthening and appropriate demand management policies, the business cycle downturn can be reversed …

From the early 1990s, India embarked on easing capital controls. Liberalization emphasized openness towards equity …