The essays included in this volume and its companion Money and Finance in the Indian Economy were written over the last 15 years in response to emerging problems and policy debates related to different aspects of the Indian macroeconomy. They examine the changes and continuity in India's...

The essays in these volumes cover practically all major macroeconomic developments in India in the process of transition from a Plan to a market oriented economy. Volume I includes papers on the overall behaviour of the economy, that is, the genesis of and lesson from the 1990-91 payments crisis...

The focus of the selected papers in this volume is on problems and policy concerns emerging in particular sectors. The most important of these issues relate to the transition from a situation of credit constraint to one of excess liquidity; sources of fiscal imbalances and measures for their...

This volume analyses the diverse and often unexpected financial developments during the last 15 years of the post-reforms period. The essays provide an overview of the challenges faced by monetary and fiscal authorities under the rapidly changing domestic and international economic environment....

Globalization is widely regarded as a means not only of ensuring efficiency and growth, but also of achieving equity and development for those countries operating in the global economy. The book argues that this perception of globalization as the road to development has lost its lustre. The...