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C P Chandrasekhar & Jayati Ghosh

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Vanishing green shoots and the possibility of another crisis

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BusinessLine When the third estimate of US growth in the last quarter of 2018 was released the euphoria exuded by forecasters of global growth even a few months earlier waned. The annualised quarter-on-quarter growth rate that had risen to a more than comforta... More »

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Why is South Asia performing so badly on the SDGs?

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BusinessLine The SDGs were obviously incredibly ambitious – far more so than the Millennium Development Goals that they succeeded – and so it was indeed a remarkable achievement that governments of almost all countries signed up to them. There were no less tha... More »

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The euphoria over foreign investments is misplaced

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BusinessLine Recently, Commerce Minister Suresh Prabhu declared that India is doing well on the foreign direct investment front and that he is confident of raising the annual inflow of FDI from around $40 billion to $100 billion by 2020. This meant that he con... More »

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Migration and remittances: The gender angle

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BusinessLine The gender distribution of cross-border migration obviously matters because women migrating for work face very different conditions from those of men migrants, whether in the source country, or in the process of travel or in the destination countr... More »

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The skewed structure of India’s bond market

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BusinessLine India’s efforts to activate its corporate debt market, not least by periodically raising the ceiling on investment by foreign portfolio investors in corporate bonds, are yet to succeed. Mobilisation of capital through the issue of corporate bonds ... More »

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The mistaken obsession with the fiscal deficit

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BusinessLine It’s that time of year again — the time when all eyes turn to those magic numbers, the actual and proposed fiscal deficits of the central government as shares of GDP. Breathless news anchors will interrogate financial investors on what the numbers... More »

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The dynamics of India’s rice export boom

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BusinessLine India emerged the world’s largest rice exporter in 2011-12, displacing Thailand from its leadership position. Two factors played a role in this. The first was the government’s decision in February 2011 to lift a four-year ban on exports of non-bas... More »

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Remittance bonanza has shored up balance of payments

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BusinessLine Once again, the World Bank has released a Brief declaring India to be the largest recipient of remittances from abroad. According to the Bank, remittances to India that totalled $65 billion in 2017, and are likely to touch $80 billion this year, w... More »

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India’s services sector boom has failed on the jobs front

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BusinessLine As is widely recognised, India’s economic growth since the 1990s has largely been on account of an expansion of the services sector, in which exports are seen as having played an important role. The rise in the share of services in GDP was particu... More »

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Can the RBI’s open market operations help the rupee?

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BusinessLine The recent depreciation of the rupee has created consternation among those who need to buy foreign exchange. It has also caused panic in the stock markets, whose decline partly reflects the exit of foreign investors, which contributes to the rupee... More »

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The conflicting saga of China’s exchange rate

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BusinessLine A favourite trope of Northern economic policy makers — especially those in the US — is that China systematically manipulates the exchange rate of the RenMinBi to ensure greater external competitiveness, and that this amounts to an unfair trade pra... More »

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The raging bull markets worldwide are running on empty

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BusinessLine The S&P 500 index of US stocks rose cumulatively by more than 300 per cent when compared with its post-crisis low value on March 9, 2009, and did not fall by a cumulative 20 per cent anytime in between. This signalled that the US stock market had ... More »