CDS-KNRaj Library

Updates from K.N. Raj Library, CDS, Thiruvananthapuram

The Global Financial Crisis: An Anatomy of Global Growth

by troy Matheson IMF Working Paper no.13/76, March 2013  The global financial crisis was a stark reminder of the importance of cross-country linkages in the global economy. We document growth synchronization across a diverse group of 185 countries covering 7 regions, and pay particular attention to the period around the global financial crisis. A dynamic [...]

Human Development Report 2013

Published by UNDP, March 15, 2013 The rise of the South is radically reshaping the world of the 21st century, with developing nations driving economic growth, lifting hundreds of millions of people from poverty, and propelling billions more into a new global middle class, says the United Nations Development Programme’s (UNDP) 2013 Human Development Report. [...]

Approach to regulation and supervision in the post crisis world

by Anand Sinha (Keynote address by Shri Anand Sinha, Deputy Governor, Reserve Bank of India at the program ‘Supervisory Effectiveness in the Post Crisis World’ organized by Centre for Advanced Financial Research and Learning (CAFRAL) at Mumbai on February 4, 2013) If the financial history is checkered with crises, then why is it that the [...]

India and the World: A Geoeconomics Perspective

by Sanjaya Baru Economic and Political Weekly, Feruary9, 2013 Strategic autonomy in an interdependent world is secured through creating mutually benefi cial relationships of interdependence, not from the mere assertion of one’s independence or non-alignment. It is the fruit of economic growth and development pursued in a globalised world wherein a nation is able to [...]

World Economic Situation and Prospects 2013

Published by United Nations, January 2013 Growth of the world economy has weakened considerably during 2012 and is expected to remain subdued in the coming two years. The global economy is expected to grow at 2.4 per cent in 2013 and 3.2 per cent in 2014 a significant downgrade from the UN’s forecast of half [...]

Economics, Politics and Democracy in the Ageof Credit-Rating Capitalism

by Srinivas Raghavendra Economic and Political  Weekly, February 2, 2013 Unlike in earlier major economic crises, the current turmoil in the global economy has seen the consolidation of orthodoxy as the dominant paradigm. This essay traces the political economy of change in the current situation and discusses how credit-rating agencies have assumed a pivotal role [...]

From a Centralized to a Decentralized GlobalEconomic Architecture: An Overview

by Pradumna B Rana ADBI Working Paper no.401, January 2013 his paper argues that calls for a New Bretton Woods system in the aftermath of the global economic crisis—similar to the remarkable 1944 Bretton Woods conference that led to the establishment of various international economic institutions—are unlikely to be answered. The likely scenario is that [...]

The role of developing countries in global economic governance

by Peter Lloyd The paper reviews critically the arguments concerning greater voice for developing countries in global governance. It supports the arguments for greater voice but argues that greater voice brings with it greater responsibilities in terms of the actions and commitments from developing countries. The two main illustrations are the multilateral trade negotiations in [...]

EMERGING GLOBAL ECONOMIC SITUATION: ITS IMPACT ON INDIA’S TRADE AND SOME POLICY ISSUES

by Dr. H.A.C. Prasad The views expressed in this paper are those of the author alone and do not necessarily reflect the views of the Ministry of Finance or Government of India. The author would like to thank for Dr. Raghuram Rajan, Chief Economic Adviser for his encouragement and for giving very useful suggestions on [...]

Impact of Changes in the Global Financial RegulatoryLandscape on Asian Emerging Markets

by Tarsia Watanagase ADBI Working Paper No.391, October 2012 This paper discusses the relevance of Basel III to Asian emerging markets. It reviews some of the proposed regulations of Basel III in order to evaluate their likely implications for, and their ability to enhance, the stability of the banking and financial system. This is followed [...]

Making Value: Integrating Manufacturing, Design, and Innovation to Thrive in the Changing Global Economy

National Academies Press. 2012 Manufacturing is in a period of dramatic transformation. But in the United States, public and political dialogue is simplistically focused almost entirely on the movement of certain manufacturing jobs overseas to low-wage countries. The true picture is much more complicated, and also more positive, than this dialogue implies. After years of [...]

The Millennium Development Goals Report 2012

Published by UNDP, 2012 Three important targets on poverty, slums and water have been met three years ahead of 2015, says this year’s Report on the Millennium Development Goals (MDGs). Meeting the remaining targets, while challenging, is possible ─ but only if Governments do not waiver from their commitments made over a decade ago. Achieving [...]

Turmoil in Global Economy: The Indian Perspectives

by Harun R Khan (Based on the address delivered by Shri Harun R Khan, Deputy Governor, Reserve Bank of India at the All India Conference 2012 on ”Waves of Change: Ocean of Opportunities” organized by the Institute of Chartered Accountants of India in Bhubaneswar on August 18, 2012) The last few years have been very [...]

World Urbanization Prospects, the 2011 Revision

Published by United Nations, 2012 Africa and Asia together will account for 86 per cent of all growth in the world’s urban population over the next four decades, adding that this unprecedented increase will pose new challenges in terms of jobs, housing and infrastructure. Africa’s urban population will increase from 414 million to over 1.2 billion [...]

World Economic Situation and Prospects 2012

Published by United Nations, 2012 The world economy is on the brink of another major downturn. Global economic growth started to decelerate on a broad front in mid-2011 and is estimated to have averaged 2.8 per cent over the last year. This economic slowdown is expected to continue into 2012 and 2013. The United Nations [...]

World Economic Situation and Prospects as of mid-2012

Published by United Nations, 2012 The World Economic Situation and Prospects (WESP) as of mid-2012 notes that the global economic situation is still challenging, with heightened risks of a severe downturn. WESP mid-2012 warns that global economic growth will likely remain tepid for the rest of the year, with most regions expanding at a below-potential [...]

World of Work Report 2012 ‘Better Jobs for a Better Economy’

Published by International Labour Organization, April 2012 The World of Work Report 2012 provides a comprehensive analysis of recent labour market and social trends, assesses risks of social unrest and presents employment projections for the next five years. The report emphasizes that while employment has begun to recover slowly, job quality is deteriorating and there [...]

‘Economics of Solidarity’:Economics of the 21st Century

by Sunil Ray Economic and Political Weekly,June 16, 2012 Today the capitalist system appears to be the only efficient mode of economic organisation. However, there appears to be increasing resistance to the capitalist order, evident in the people’s movements witnessed from time to time when the livelihoods of the poor and the marginalised are threatened. [...]

Finance & Development, June 2012

The Crisis and Beyond Five years after the start of the crisis, the global economy remains in distress James L. Rowe, Jr. Tracking the Global Recovery Most emerging markets are doing fine, but most advanced economies are not and things seem unlikely to change M. Ayhan Kose, Prakash Loungani, and Marco E. Terrones Shedding Debt [...]

Reflections on the Current Crisis and Its Effects

by Remy Herrera Economic and Political Weekly 9, 2012 The crisis of capital at the present juncture when capitalism is deeply financialised is extremely difficult to resolve. The main structural problem of the system is the downward pressure on the rate of profit, but further financialisation is no longer a sustainable solution. The demands of [...]

MANAGING GLOBAL FINANCIAL FLOWS AT THE COST OF NATIONAL AUTONOMY:China and India

by Sunanda Sen ISID Working Paper No. 202/01, March 2012 The narrative as well as an analysis of the global imbalances, as exist in the literature, remain incomplete unless it captures the part of the story which relates to the experiences of the emerging economies which are experiencing the surges in capital flows. In addition [...]

How Can Asia Respond to Global Economic Crisis andTransformation?

Published by Asian Development Bank, May 2012 This monograph aims to stimulate debate on the measures available to policymakers to dampen the effects of any abrupt economic shocks should recovery in the United States fail to gain traction or if the sovereign debt problems plaguing Europe were to escalate into a full-blown crisis. In addressing [...]

Monetary Policy Statement 2012-13

by D Subbarao Published by Reserve Bank of India, April 17, 2012 This Annual Policy for 2012-13 is set in a challenging macroeconomic environment. At the global level, concerns about a crisis have abated somewhat since the Third Quarter Review (TQR) in January 2012. The US economy continues to show signs of modest recovery. Large [...]

Macroeconomic and Monetary Developments in 2011-12

Published by Reserve Bank of India,  16 April 2012 Highlights: Overall Outlook Macroeconomic challenges warrant careful calibration of monetary policy Growth is likely to improve moderately in 2012-13. While inflation has moderated, risks to inflation are still on the upside. Accordingly, monetary policy needs to support growth without inflation and external imbalances by excessively fuelling [...]

Can the SDR become a Global Reserve Currency?

by C Ranganathan and Michael Debabrata Patra Economic and Political Weekly, March 17, 2012 Global economic prospects are worsening rapidly. This has revived the debate on the evolving international monetary system and the international reserve currency that will underpin it. Since the 1940s, the remains the world’s dominant reserve currency. Developments since 2008 have challenged [...]

Third Quarter Review of Monetary Policy 2011-12

by D. Subbarao Published by RBI, January 24, 2012 Since the Second Quarter Review (SQR) of Monetary Policy in October 2011, there have been significant changes in the global scenario. On the one hand, concerns over the sustainability of sovereign debt problem in the euro area have intensified. On the other, there are modest signs [...]

The Global Financial Crisis : New Awakening

by B. Mahapatra　  (Address　of　Shri　B.　Mahapatra,　Executive　Director,　Reserve　Bank　of　India　at　the　Convocation　Ceremony　of　Chetana’s　Institute　of　Management　&　Research　on　January　21,　2012　at　Mumbai.) The last few years have been very turbulent for the world economy and have shaken the foundation of some of the unquestioned beliefs of economic theories. The global financial crisis has called into question the ethical foundation of the financial world. Even as we grapple with these challenges, the world has [...]

World Economic Situation and Prospects 2012

Published by United Nations, January 2012 The world economy is teetering on the brink of another major downturn. Output growth has already slowed considerably during 2011 and anaemic growth is expected during 2012 and 2013. The problems stalking the global economy are multiple and interconnected. The most pressing challenges lie in addressing the continued jobs [...]

The Global Financial Crisis and its Impact on India’s External Sector

by Jomon Mathew MPRA paper No.35974, January 2012 The term financial crisis refers to the loss of confidence in a country’s currency or other financial assets causing international investors to withdraw their funds from the country. The financial crisis and associated recession originated in the US in early 2008 and then spread to Europe has [...]

Gross Financial Flows, Global Imbalances, and Crises

by D. Subbarao (Welcome Remarks by Dr. D Subbarao, Governor, Reserve Bank of India, at the Twelfth L.K. Jha Memorial Lecture on December 13, 2011) http://rbidocs.rbi.org.in/rdocs/Speeches/PDFs/LKJHL14122011.pdf Courtesy: RBI

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