Macroeconomic Policy in India since the Global Financial Crisis: Trends, Policies and Challenges in Economic Revival Post-Covid
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Singapore
Springer
2022
|
| Ausgabe: | 1st ed |
| Schriftenreihe: | India Studies in Business and Economics Series
|
| Schlagworte: | |
| Online-Zugang: | HWR01 |
| Beschreibung: | Description based on publisher supplied metadata and other sources |
| Beschreibung: | 1 Online-Ressource (316 Seiten) |
| ISBN: | 9789811912764 |
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| 245 | 1 | 0 | |a Macroeconomic Policy in India since the Global Financial Crisis |b Trends, Policies and Challenges in Economic Revival Post-Covid |
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| 505 | 8 | |a Intro -- Preface -- Acknowledgments -- Contents -- Abbreviations -- List of Figures -- 1 Introduction -- 1.1 The Great Liberalization -- 1.2 Global Financial Crisis -- 1.3 The "Tiger" Period -- 1.4 "Reforms" and Macroeconomic Policy -- 1.5 Macroeconomic Policy Could Hurt Reforms -- 1.6 Equilibrium Not "General" -- 1.7 Incorporating Financial Sector (Monetary Side) Stocks -- 1.8 The Problem of Global Capital Flows -- 1.9 Exchange Rate Management -- 1.10 Trends and Their Determinants -- 1.11 After the Global Financial Crisis -- 1.12 Movement to Inflation Targeting -- 1.13 Should the CPI be "Targeted"? -- 1.14 Supply-Side Inflation -- 1.15 Food Inflation is Special -- 1.16 Fiscal Conservatism -- 1.17 Reforms During Modi-I -- 1.18 The COVID Crisis -- 1.19 Employment Decline -- 1.20 RBI's Dynamic Response -- 1.21 Manufacturing Kickoff? -- 1.22 GST and Its Effects -- 1.23 The Coverage -- Annex: Indian Growth Experience -- References -- 2 Trends in Growth Since the GFC -- 2.1 Official 2011-12 National Income Series -- 2.2 Possible Overestimation in GVA11-12? -- 2.3 Index of Industrial Production -- 2.4 IIP Sectors Since 2018 -- 2.5 GDP04-05 Series and GVA11-12 Series -- 2.6 GVA11-12 Series Since 2015-16 -- 2.7 Exports, Imports, and Electricity -- 2.8 Trends in GCF -- References -- 3 Credit, Employment, and the Current Account -- 3.1 Growth and Credit -- 3.2 Employment from CMIE's Surveys -- 3.3 Exports, Imports, and the Current Account -- References -- 4 Capital Formation and Foreign Investment -- 4.1 Gross Capital Formation -- 4.2 Private Investment -- 4.3 Private Sector Investments -- 4.4 Portfolio Flows -- 4.5 FDI -- 4.6 Cumulative FII Flows -- 5 Inflation and Monetary Developments -- 5.1 Inflation Trends -- 5.1.1 Fractured Agriculture Markets and CPI -- 5.1.2 Challenge of Monetary Policy with Open Capital Account -- 5.2 Trends in M, H and NFA. | |
| 505 | 8 | |a 5.2.1 The "Tiger" Period -- 5.2.2 Impact of GFC -- 5.2.3 "Taper Tantrum" -- 5.2.4 Policy Rates and Bond Yields -- 5.3 Uncertainty in the Financial Markets -- References -- 6 Policy and Analyses -- 6.1 High Growth Continues After GFC -- 6.2 Estimates of the Stimulus -- 6.3 Policy Paralysis -- 6.4 PMEAC's Analysis -- 6.5 Monetary Tightening -- 6.6 Market Rises and Fall -- 6.7 Positive Vibes But Underspending -- 6.8 Unconditional Pursuit of Fiscal Deficit Targets -- 6.9 Scaling Down MGNREGS -- 6.10 Demonetization and Delayed Effects -- 6.11 Authorities Enhancing Risks and Uncertainty -- 6.12 Not External Factors -- 6.13 Real Estate Construction and Growth -- 6.14 Infrastructure and NPAs of Banks in the Slowdown -- 6.15 The GST Effect -- 6.16 Tax "Terrorism" -- 6.17 Taxes in the Growth Experience -- 6.18 Government Expenditure -- 6.19 The Fiscal Deficit -- References -- 7 Reflexive, Not Reflective Monetary Policy -- 7.1 Introduction -- 7.2 Reflexive Approach to Inflation -- 7.3 Inflation Targeting Experiences -- 7.4 Supply-Side Inflation -- 7.5 Special Case of Food Inflation in Transition Economies -- 7.6 Chinese High Food Inflation Episode -- 7.7 Nature of Inflation in India -- 7.8 Addressing Demand-Side Inflation -- 7.9 RBI's Inflation "Forecasts" -- 7.10 Expectations Survey -- 7.11 Inflation Pass Through -- 7.12 Wrong Weights for Food? -- 7.13 Specificities Need Recognition -- 7.14 A Broken Compass (or Is the CPI Useless)? -- 7.15 Pay Commission Implementation and Distortions in the Core Inflation -- 7.16 Adjusting for Rents -- 7.17 Transmission Issues -- References -- 8 The COVID Crisis and Response -- 8.1 Before the Crisis -- 8.1.1 Growth Had Slowed Down -- 8.1.2 Inflation Was Low -- 8.1.3 On the Monetary Side: -- 8.1.4 Stimulus Withdrawal and Monetary Tightening -- 8.1.5 Conservative Government Spending -- 8.1.6 GST Raised Effective Tax Rates | |
| 505 | 8 | |a 8.1.7 Ineffective Corporate Tax Cut -- 8.1.8 Rise in Uncertainties -- 8.2 The COVID Crisis and the Response -- 8.2.1 Contagion Was Limited -- 8.2.2 Prime Minister's Initiative -- 8.2.3 Dysfunctional Lockdowns -- 8.2.4 Fractured Markets -- 8.2.5 Middle-Class Delight -- 8.2.6 Migrant Labor -- 8.2.7 Territoriality of Restrictions -- 8.2.8 Knee-Jerk and Emergent Response -- 8.2.9 Employment Scheme for Workers? -- 8.2.10 Simultaneous Demand and Supply Shock -- 8.2.11 Summer Harvest Escapes -- 8.2.12 Infection Patterns -- 8.3 Anticipating the Effect Through a Model -- 8.4 The Stimulus Package -- 8.5 Impact -- 8.6 RBI's Response -- Annex Table 1. -- References -- 9 The Recovery -- 9.1 Stock Market Performance -- 9.1.1 Discount Rates -- 9.1.2 Model to Explain Stock Valuation -- 9.1.3 Cost and Return Structure of Corporates -- 9.2 GDP and GVA Over the Crisis and Recovery -- 9.3 IIP Over the Months of the Crisis and Recovery -- 9.4 Sectoral Patterns -- 9.5 Industry Wise Recovery -- 9.6 Unemployment -- 9.6.1 Labor Force Participation -- 9.6.2 Reservation Wages -- 9.6.3 Employment -- 9.6.4 Sectoral Patterns -- 9.6.5 Type of Work -- 9.7 Export and Imports -- 9.8 Monetary Developments -- 9.9 Lending Rates -- 9.10 Yields and Credit Flows -- 9.11 Government Expenditure -- 9.12 Inflation -- 9.13 FDI, FII, and the "Fisher-Open" -- Annex -- References -- 10 The Challenge of Manufacturing -- 10.1 Manufacturing and Demand -- 10.2 Sectoral Differences -- 10.3 Growth Trends -- 10.4 Competitiveness in the Eighties -- 10.5 Large Tax Distortions -- 10.6 Auto Sector in the Eighties -- 10.7 Relative Profitability of Exports -- 10.8 Pre-plan Competitiveness -- 10.9 Declining Tariffs and Currency "Overvaluation" -- 10.10 Auto Industry -- 10.11 Electronics Manufacture -- 10.12 The PC Revolution -- 10.13 Policies Designed to Lose -- 10.14 Relative Revealed Comparative Advantage | |
| 505 | 8 | |a 10.15 Electronics Manufacture in ELG Economies -- 10.16 Fab Before Assembly -- 10.17 Low Bound Tariffs -- 10.18 DIPP and "Thru Put Support" -- 10.19 WTO and the Solar Panels Fiasco -- 10.20 Debilities Faced by the Electronics Industry -- 10.21 ITA and Decline of Electronics Manufacturing -- 10.22 Tariffs and Domestic Prices -- 10.23 EPR's not Easy to Estimate -- 10.24 IS in India -- 10.25 Role of Exchange Rates -- 10.26 Pure Trade Theory Model is Limiting -- 10.27 ELG is Mis-Understood in India -- 10.28 India Moved Towards Laissez Faire not ELG -- 10.29 The Fisher Open and the Nature of FDI -- 10.30 Equilibrium Stances and Dutch Disease -- 10.31 Would "Make in India" Finally Takeoff? -- References -- 11 GST and the Discrimination Against Production Oriented States -- 11.1 Antecedents -- 11.2 Issues in a Destination-Based Tax -- 11.3 Need for State-Level Estimates of Revenue Neutrality (RNR) -- 11.4 Current Estimates of RNR at the State Level -- 11.5 The Consumption-Based Approach -- 11.6 Adjusting NSSO Estimates with NAS PFCE -- 11.7 RNRS (A) -- 11.8 RNRS (AA) -- 11.9 Further Estimates Including Service Taxes -- 11.10 Including Government Purchase -- 11.11 Institutional Mechanism -- 11.12 Conclusions -- References -- 12 Conclusions -- 12.1 Managing the GFC -- 12.2 The Fall from High Growth -- 12.3 Monetary Tightening -- 12.4 Inflation Targeting -- 12.5 Fiscal Conservatism -- 12.6 Programs Without Design -- 12.7 Public Sector Banks -- 12.8 External Environment -- 12.9 Reforms and Macroeconomic Policy -- 12.10 The COVD19 Crisis -- 12.10.1 Stimulus -- 12.10.2 Lockdowns -- 12.10.3 RBI to the Rescue -- 12.10.4 Employment Fall -- 12.10.5 Insipid Recovery -- 12.11 Working Through Reforms -- 12.12 Make in India Today -- 12.13 Debilities on Manufacturing -- 12.14 Not ELG as Yet -- 12.15 Finally -- 12.16 Revised Estimates' Indications | |
| 505 | 8 | |a 12.16.1 Growth and Recovery -- 12.16.2 Inflation -- 12.16.3 Chinese Disruptions -- 12.17 "Logistics" Inflation -- 12.17.1 Fight the Inflation? -- Uncited References | |
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| contents | Intro -- Preface -- Acknowledgments -- Contents -- Abbreviations -- List of Figures -- 1 Introduction -- 1.1 The Great Liberalization -- 1.2 Global Financial Crisis -- 1.3 The "Tiger" Period -- 1.4 "Reforms" and Macroeconomic Policy -- 1.5 Macroeconomic Policy Could Hurt Reforms -- 1.6 Equilibrium Not "General" -- 1.7 Incorporating Financial Sector (Monetary Side) Stocks -- 1.8 The Problem of Global Capital Flows -- 1.9 Exchange Rate Management -- 1.10 Trends and Their Determinants -- 1.11 After the Global Financial Crisis -- 1.12 Movement to Inflation Targeting -- 1.13 Should the CPI be "Targeted"? -- 1.14 Supply-Side Inflation -- 1.15 Food Inflation is Special -- 1.16 Fiscal Conservatism -- 1.17 Reforms During Modi-I -- 1.18 The COVID Crisis -- 1.19 Employment Decline -- 1.20 RBI's Dynamic Response -- 1.21 Manufacturing Kickoff? -- 1.22 GST and Its Effects -- 1.23 The Coverage -- Annex: Indian Growth Experience -- References -- 2 Trends in Growth Since the GFC -- 2.1 Official 2011-12 National Income Series -- 2.2 Possible Overestimation in GVA11-12? -- 2.3 Index of Industrial Production -- 2.4 IIP Sectors Since 2018 -- 2.5 GDP04-05 Series and GVA11-12 Series -- 2.6 GVA11-12 Series Since 2015-16 -- 2.7 Exports, Imports, and Electricity -- 2.8 Trends in GCF -- References -- 3 Credit, Employment, and the Current Account -- 3.1 Growth and Credit -- 3.2 Employment from CMIE's Surveys -- 3.3 Exports, Imports, and the Current Account -- References -- 4 Capital Formation and Foreign Investment -- 4.1 Gross Capital Formation -- 4.2 Private Investment -- 4.3 Private Sector Investments -- 4.4 Portfolio Flows -- 4.5 FDI -- 4.6 Cumulative FII Flows -- 5 Inflation and Monetary Developments -- 5.1 Inflation Trends -- 5.1.1 Fractured Agriculture Markets and CPI -- 5.1.2 Challenge of Monetary Policy with Open Capital Account -- 5.2 Trends in M, H and NFA. 5.2.1 The "Tiger" Period -- 5.2.2 Impact of GFC -- 5.2.3 "Taper Tantrum" -- 5.2.4 Policy Rates and Bond Yields -- 5.3 Uncertainty in the Financial Markets -- References -- 6 Policy and Analyses -- 6.1 High Growth Continues After GFC -- 6.2 Estimates of the Stimulus -- 6.3 Policy Paralysis -- 6.4 PMEAC's Analysis -- 6.5 Monetary Tightening -- 6.6 Market Rises and Fall -- 6.7 Positive Vibes But Underspending -- 6.8 Unconditional Pursuit of Fiscal Deficit Targets -- 6.9 Scaling Down MGNREGS -- 6.10 Demonetization and Delayed Effects -- 6.11 Authorities Enhancing Risks and Uncertainty -- 6.12 Not External Factors -- 6.13 Real Estate Construction and Growth -- 6.14 Infrastructure and NPAs of Banks in the Slowdown -- 6.15 The GST Effect -- 6.16 Tax "Terrorism" -- 6.17 Taxes in the Growth Experience -- 6.18 Government Expenditure -- 6.19 The Fiscal Deficit -- References -- 7 Reflexive, Not Reflective Monetary Policy -- 7.1 Introduction -- 7.2 Reflexive Approach to Inflation -- 7.3 Inflation Targeting Experiences -- 7.4 Supply-Side Inflation -- 7.5 Special Case of Food Inflation in Transition Economies -- 7.6 Chinese High Food Inflation Episode -- 7.7 Nature of Inflation in India -- 7.8 Addressing Demand-Side Inflation -- 7.9 RBI's Inflation "Forecasts" -- 7.10 Expectations Survey -- 7.11 Inflation Pass Through -- 7.12 Wrong Weights for Food? -- 7.13 Specificities Need Recognition -- 7.14 A Broken Compass (or Is the CPI Useless)? -- 7.15 Pay Commission Implementation and Distortions in the Core Inflation -- 7.16 Adjusting for Rents -- 7.17 Transmission Issues -- References -- 8 The COVID Crisis and Response -- 8.1 Before the Crisis -- 8.1.1 Growth Had Slowed Down -- 8.1.2 Inflation Was Low -- 8.1.3 On the Monetary Side: -- 8.1.4 Stimulus Withdrawal and Monetary Tightening -- 8.1.5 Conservative Government Spending -- 8.1.6 GST Raised Effective Tax Rates 8.1.7 Ineffective Corporate Tax Cut -- 8.1.8 Rise in Uncertainties -- 8.2 The COVID Crisis and the Response -- 8.2.1 Contagion Was Limited -- 8.2.2 Prime Minister's Initiative -- 8.2.3 Dysfunctional Lockdowns -- 8.2.4 Fractured Markets -- 8.2.5 Middle-Class Delight -- 8.2.6 Migrant Labor -- 8.2.7 Territoriality of Restrictions -- 8.2.8 Knee-Jerk and Emergent Response -- 8.2.9 Employment Scheme for Workers? -- 8.2.10 Simultaneous Demand and Supply Shock -- 8.2.11 Summer Harvest Escapes -- 8.2.12 Infection Patterns -- 8.3 Anticipating the Effect Through a Model -- 8.4 The Stimulus Package -- 8.5 Impact -- 8.6 RBI's Response -- Annex Table 1. -- References -- 9 The Recovery -- 9.1 Stock Market Performance -- 9.1.1 Discount Rates -- 9.1.2 Model to Explain Stock Valuation -- 9.1.3 Cost and Return Structure of Corporates -- 9.2 GDP and GVA Over the Crisis and Recovery -- 9.3 IIP Over the Months of the Crisis and Recovery -- 9.4 Sectoral Patterns -- 9.5 Industry Wise Recovery -- 9.6 Unemployment -- 9.6.1 Labor Force Participation -- 9.6.2 Reservation Wages -- 9.6.3 Employment -- 9.6.4 Sectoral Patterns -- 9.6.5 Type of Work -- 9.7 Export and Imports -- 9.8 Monetary Developments -- 9.9 Lending Rates -- 9.10 Yields and Credit Flows -- 9.11 Government Expenditure -- 9.12 Inflation -- 9.13 FDI, FII, and the "Fisher-Open" -- Annex -- References -- 10 The Challenge of Manufacturing -- 10.1 Manufacturing and Demand -- 10.2 Sectoral Differences -- 10.3 Growth Trends -- 10.4 Competitiveness in the Eighties -- 10.5 Large Tax Distortions -- 10.6 Auto Sector in the Eighties -- 10.7 Relative Profitability of Exports -- 10.8 Pre-plan Competitiveness -- 10.9 Declining Tariffs and Currency "Overvaluation" -- 10.10 Auto Industry -- 10.11 Electronics Manufacture -- 10.12 The PC Revolution -- 10.13 Policies Designed to Lose -- 10.14 Relative Revealed Comparative Advantage 10.15 Electronics Manufacture in ELG Economies -- 10.16 Fab Before Assembly -- 10.17 Low Bound Tariffs -- 10.18 DIPP and "Thru Put Support" -- 10.19 WTO and the Solar Panels Fiasco -- 10.20 Debilities Faced by the Electronics Industry -- 10.21 ITA and Decline of Electronics Manufacturing -- 10.22 Tariffs and Domestic Prices -- 10.23 EPR's not Easy to Estimate -- 10.24 IS in India -- 10.25 Role of Exchange Rates -- 10.26 Pure Trade Theory Model is Limiting -- 10.27 ELG is Mis-Understood in India -- 10.28 India Moved Towards Laissez Faire not ELG -- 10.29 The Fisher Open and the Nature of FDI -- 10.30 Equilibrium Stances and Dutch Disease -- 10.31 Would "Make in India" Finally Takeoff? -- References -- 11 GST and the Discrimination Against Production Oriented States -- 11.1 Antecedents -- 11.2 Issues in a Destination-Based Tax -- 11.3 Need for State-Level Estimates of Revenue Neutrality (RNR) -- 11.4 Current Estimates of RNR at the State Level -- 11.5 The Consumption-Based Approach -- 11.6 Adjusting NSSO Estimates with NAS PFCE -- 11.7 RNRS (A) -- 11.8 RNRS (AA) -- 11.9 Further Estimates Including Service Taxes -- 11.10 Including Government Purchase -- 11.11 Institutional Mechanism -- 11.12 Conclusions -- References -- 12 Conclusions -- 12.1 Managing the GFC -- 12.2 The Fall from High Growth -- 12.3 Monetary Tightening -- 12.4 Inflation Targeting -- 12.5 Fiscal Conservatism -- 12.6 Programs Without Design -- 12.7 Public Sector Banks -- 12.8 External Environment -- 12.9 Reforms and Macroeconomic Policy -- 12.10 The COVD19 Crisis -- 12.10.1 Stimulus -- 12.10.2 Lockdowns -- 12.10.3 RBI to the Rescue -- 12.10.4 Employment Fall -- 12.10.5 Insipid Recovery -- 12.11 Working Through Reforms -- 12.12 Make in India Today -- 12.13 Debilities on Manufacturing -- 12.14 Not ELG as Yet -- 12.15 Finally -- 12.16 Revised Estimates' Indications 12.16.1 Growth and Recovery -- 12.16.2 Inflation -- 12.16.3 Chinese Disruptions -- 12.17 "Logistics" Inflation -- 12.17.1 Fight the Inflation? -- Uncited References |
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| dewey-full | 330.954 |
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-- 1.14 Supply-Side Inflation -- 1.15 Food Inflation is Special -- 1.16 Fiscal Conservatism -- 1.17 Reforms During Modi-I -- 1.18 The COVID Crisis -- 1.19 Employment Decline -- 1.20 RBI's Dynamic Response -- 1.21 Manufacturing Kickoff? -- 1.22 GST and Its Effects -- 1.23 The Coverage -- Annex: Indian Growth Experience -- References -- 2 Trends in Growth Since the GFC -- 2.1 Official 2011-12 National Income Series -- 2.2 Possible Overestimation in GVA11-12? -- 2.3 Index of Industrial Production -- 2.4 IIP Sectors Since 2018 -- 2.5 GDP04-05 Series and GVA11-12 Series -- 2.6 GVA11-12 Series Since 2015-16 -- 2.7 Exports, Imports, and Electricity -- 2.8 Trends in GCF -- References -- 3 Credit, Employment, and the Current Account -- 3.1 Growth and Credit -- 3.2 Employment from CMIE's Surveys -- 3.3 Exports, Imports, and the Current Account -- References -- 4 Capital Formation and Foreign Investment -- 4.1 Gross Capital Formation -- 4.2 Private Investment -- 4.3 Private Sector Investments -- 4.4 Portfolio Flows -- 4.5 FDI -- 4.6 Cumulative FII Flows -- 5 Inflation and Monetary Developments -- 5.1 Inflation Trends -- 5.1.1 Fractured Agriculture Markets and CPI -- 5.1.2 Challenge of Monetary Policy with Open Capital Account -- 5.2 Trends in M, H and NFA.</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">5.2.1 The "Tiger" Period -- 5.2.2 Impact of GFC -- 5.2.3 "Taper Tantrum" -- 5.2.4 Policy Rates and Bond Yields -- 5.3 Uncertainty in the Financial Markets -- References -- 6 Policy and Analyses -- 6.1 High Growth Continues After GFC -- 6.2 Estimates of the Stimulus -- 6.3 Policy Paralysis -- 6.4 PMEAC's Analysis -- 6.5 Monetary Tightening -- 6.6 Market Rises and Fall -- 6.7 Positive Vibes But Underspending -- 6.8 Unconditional Pursuit of Fiscal Deficit Targets -- 6.9 Scaling Down MGNREGS -- 6.10 Demonetization and Delayed Effects -- 6.11 Authorities Enhancing Risks and Uncertainty -- 6.12 Not External Factors -- 6.13 Real Estate Construction and Growth -- 6.14 Infrastructure and NPAs of Banks in the Slowdown -- 6.15 The GST Effect -- 6.16 Tax "Terrorism" -- 6.17 Taxes in the Growth Experience -- 6.18 Government Expenditure -- 6.19 The Fiscal Deficit -- References -- 7 Reflexive, Not Reflective Monetary Policy -- 7.1 Introduction -- 7.2 Reflexive Approach to Inflation -- 7.3 Inflation Targeting Experiences -- 7.4 Supply-Side Inflation -- 7.5 Special Case of Food Inflation in Transition Economies -- 7.6 Chinese High Food Inflation Episode -- 7.7 Nature of Inflation in India -- 7.8 Addressing Demand-Side Inflation -- 7.9 RBI's Inflation "Forecasts" -- 7.10 Expectations Survey -- 7.11 Inflation Pass Through -- 7.12 Wrong Weights for Food? -- 7.13 Specificities Need Recognition -- 7.14 A Broken Compass (or Is the CPI Useless)? -- 7.15 Pay Commission Implementation and Distortions in the Core Inflation -- 7.16 Adjusting for Rents -- 7.17 Transmission Issues -- References -- 8 The COVID Crisis and Response -- 8.1 Before the Crisis -- 8.1.1 Growth Had Slowed Down -- 8.1.2 Inflation Was Low -- 8.1.3 On the Monetary Side: -- 8.1.4 Stimulus Withdrawal and Monetary Tightening -- 8.1.5 Conservative Government Spending -- 8.1.6 GST Raised Effective Tax Rates</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">8.1.7 Ineffective Corporate Tax Cut -- 8.1.8 Rise in Uncertainties -- 8.2 The COVID Crisis and the Response -- 8.2.1 Contagion Was Limited -- 8.2.2 Prime Minister's Initiative -- 8.2.3 Dysfunctional Lockdowns -- 8.2.4 Fractured Markets -- 8.2.5 Middle-Class Delight -- 8.2.6 Migrant Labor -- 8.2.7 Territoriality of Restrictions -- 8.2.8 Knee-Jerk and Emergent Response -- 8.2.9 Employment Scheme for Workers? -- 8.2.10 Simultaneous Demand and Supply Shock -- 8.2.11 Summer Harvest Escapes -- 8.2.12 Infection Patterns -- 8.3 Anticipating the Effect Through a Model -- 8.4 The Stimulus Package -- 8.5 Impact -- 8.6 RBI's Response -- Annex Table 1. -- References -- 9 The Recovery -- 9.1 Stock Market Performance -- 9.1.1 Discount Rates -- 9.1.2 Model to Explain Stock Valuation -- 9.1.3 Cost and Return Structure of Corporates -- 9.2 GDP and GVA Over the Crisis and Recovery -- 9.3 IIP Over the Months of the Crisis and Recovery -- 9.4 Sectoral Patterns -- 9.5 Industry Wise Recovery -- 9.6 Unemployment -- 9.6.1 Labor Force Participation -- 9.6.2 Reservation Wages -- 9.6.3 Employment -- 9.6.4 Sectoral Patterns -- 9.6.5 Type of Work -- 9.7 Export and Imports -- 9.8 Monetary Developments -- 9.9 Lending Rates -- 9.10 Yields and Credit Flows -- 9.11 Government Expenditure -- 9.12 Inflation -- 9.13 FDI, FII, and the "Fisher-Open" -- Annex -- References -- 10 The Challenge of Manufacturing -- 10.1 Manufacturing and Demand -- 10.2 Sectoral Differences -- 10.3 Growth Trends -- 10.4 Competitiveness in the Eighties -- 10.5 Large Tax Distortions -- 10.6 Auto Sector in the Eighties -- 10.7 Relative Profitability of Exports -- 10.8 Pre-plan Competitiveness -- 10.9 Declining Tariffs and Currency "Overvaluation" -- 10.10 Auto Industry -- 10.11 Electronics Manufacture -- 10.12 The PC Revolution -- 10.13 Policies Designed to Lose -- 10.14 Relative Revealed Comparative Advantage</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">10.15 Electronics Manufacture in ELG Economies -- 10.16 Fab Before Assembly -- 10.17 Low Bound Tariffs -- 10.18 DIPP and "Thru Put Support" -- 10.19 WTO and the Solar Panels Fiasco -- 10.20 Debilities Faced by the Electronics Industry -- 10.21 ITA and Decline of Electronics Manufacturing -- 10.22 Tariffs and Domestic Prices -- 10.23 EPR's not Easy to Estimate -- 10.24 IS in India -- 10.25 Role of Exchange Rates -- 10.26 Pure Trade Theory Model is Limiting -- 10.27 ELG is Mis-Understood in India -- 10.28 India Moved Towards Laissez Faire not ELG -- 10.29 The Fisher Open and the Nature of FDI -- 10.30 Equilibrium Stances and Dutch Disease -- 10.31 Would "Make in India" Finally Takeoff? -- References -- 11 GST and the Discrimination Against Production Oriented States -- 11.1 Antecedents -- 11.2 Issues in a Destination-Based Tax -- 11.3 Need for State-Level Estimates of Revenue Neutrality (RNR) -- 11.4 Current Estimates of RNR at the State Level -- 11.5 The Consumption-Based Approach -- 11.6 Adjusting NSSO Estimates with NAS PFCE -- 11.7 RNRS (A) -- 11.8 RNRS (AA) -- 11.9 Further Estimates Including Service Taxes -- 11.10 Including Government Purchase -- 11.11 Institutional Mechanism -- 11.12 Conclusions -- References -- 12 Conclusions -- 12.1 Managing the GFC -- 12.2 The Fall from High Growth -- 12.3 Monetary Tightening -- 12.4 Inflation Targeting -- 12.5 Fiscal Conservatism -- 12.6 Programs Without Design -- 12.7 Public Sector Banks -- 12.8 External Environment -- 12.9 Reforms and Macroeconomic Policy -- 12.10 The COVD19 Crisis -- 12.10.1 Stimulus -- 12.10.2 Lockdowns -- 12.10.3 RBI to the Rescue -- 12.10.4 Employment Fall -- 12.10.5 Insipid Recovery -- 12.11 Working Through Reforms -- 12.12 Make in India Today -- 12.13 Debilities on Manufacturing -- 12.14 Not ELG as Yet -- 12.15 Finally -- 12.16 Revised Estimates' Indications</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">12.16.1 Growth and Recovery -- 12.16.2 Inflation -- 12.16.3 Chinese Disruptions -- 12.17 "Logistics" Inflation -- 12.17.1 Fight the Inflation? -- Uncited References</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">India-Economic policy</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Druck-Ausgabe</subfield><subfield code="a">Morris, Sebastian</subfield><subfield code="t">Macroeconomic Policy in India since the Global Financial Crisis</subfield><subfield code="d">Singapore : Springer,c2022</subfield><subfield code="z">9789811912757</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-30-PQE</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-034282439</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://ebookcentral.proquest.com/lib/hwr/detail.action?docID=7001207</subfield><subfield code="l">HWR01</subfield><subfield code="p">ZDB-30-PQE</subfield><subfield code="q">HWR_PDA_PQE</subfield><subfield code="x">Aggregator</subfield><subfield code="3">Volltext</subfield></datafield></record></collection> |
| id | DE-604.BV049019532 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T22:13:39Z |
| indexdate | 2024-07-10T09:52:58Z |
| institution | BVB |
| isbn | 9789811912764 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-034282439 |
| oclc_num | 1321786765 |
| open_access_boolean | |
| owner | DE-2070s |
| owner_facet | DE-2070s |
| physical | 1 Online-Ressource (316 Seiten) |
| psigel | ZDB-30-PQE ZDB-30-PQE HWR_PDA_PQE |
| publishDate | 2022 |
| publishDateSearch | 2022 |
| publishDateSort | 2022 |
| publisher | Springer |
| record_format | marc |
| series2 | India Studies in Business and Economics Series |
| spelling | Morris, Sebastian Verfasser aut Macroeconomic Policy in India since the Global Financial Crisis Trends, Policies and Challenges in Economic Revival Post-Covid 1st ed Singapore Springer 2022 ©2022 1 Online-Ressource (316 Seiten) txt rdacontent c rdamedia cr rdacarrier India Studies in Business and Economics Series Description based on publisher supplied metadata and other sources Intro -- Preface -- Acknowledgments -- Contents -- Abbreviations -- List of Figures -- 1 Introduction -- 1.1 The Great Liberalization -- 1.2 Global Financial Crisis -- 1.3 The "Tiger" Period -- 1.4 "Reforms" and Macroeconomic Policy -- 1.5 Macroeconomic Policy Could Hurt Reforms -- 1.6 Equilibrium Not "General" -- 1.7 Incorporating Financial Sector (Monetary Side) Stocks -- 1.8 The Problem of Global Capital Flows -- 1.9 Exchange Rate Management -- 1.10 Trends and Their Determinants -- 1.11 After the Global Financial Crisis -- 1.12 Movement to Inflation Targeting -- 1.13 Should the CPI be "Targeted"? -- 1.14 Supply-Side Inflation -- 1.15 Food Inflation is Special -- 1.16 Fiscal Conservatism -- 1.17 Reforms During Modi-I -- 1.18 The COVID Crisis -- 1.19 Employment Decline -- 1.20 RBI's Dynamic Response -- 1.21 Manufacturing Kickoff? -- 1.22 GST and Its Effects -- 1.23 The Coverage -- Annex: Indian Growth Experience -- References -- 2 Trends in Growth Since the GFC -- 2.1 Official 2011-12 National Income Series -- 2.2 Possible Overestimation in GVA11-12? -- 2.3 Index of Industrial Production -- 2.4 IIP Sectors Since 2018 -- 2.5 GDP04-05 Series and GVA11-12 Series -- 2.6 GVA11-12 Series Since 2015-16 -- 2.7 Exports, Imports, and Electricity -- 2.8 Trends in GCF -- References -- 3 Credit, Employment, and the Current Account -- 3.1 Growth and Credit -- 3.2 Employment from CMIE's Surveys -- 3.3 Exports, Imports, and the Current Account -- References -- 4 Capital Formation and Foreign Investment -- 4.1 Gross Capital Formation -- 4.2 Private Investment -- 4.3 Private Sector Investments -- 4.4 Portfolio Flows -- 4.5 FDI -- 4.6 Cumulative FII Flows -- 5 Inflation and Monetary Developments -- 5.1 Inflation Trends -- 5.1.1 Fractured Agriculture Markets and CPI -- 5.1.2 Challenge of Monetary Policy with Open Capital Account -- 5.2 Trends in M, H and NFA. 5.2.1 The "Tiger" Period -- 5.2.2 Impact of GFC -- 5.2.3 "Taper Tantrum" -- 5.2.4 Policy Rates and Bond Yields -- 5.3 Uncertainty in the Financial Markets -- References -- 6 Policy and Analyses -- 6.1 High Growth Continues After GFC -- 6.2 Estimates of the Stimulus -- 6.3 Policy Paralysis -- 6.4 PMEAC's Analysis -- 6.5 Monetary Tightening -- 6.6 Market Rises and Fall -- 6.7 Positive Vibes But Underspending -- 6.8 Unconditional Pursuit of Fiscal Deficit Targets -- 6.9 Scaling Down MGNREGS -- 6.10 Demonetization and Delayed Effects -- 6.11 Authorities Enhancing Risks and Uncertainty -- 6.12 Not External Factors -- 6.13 Real Estate Construction and Growth -- 6.14 Infrastructure and NPAs of Banks in the Slowdown -- 6.15 The GST Effect -- 6.16 Tax "Terrorism" -- 6.17 Taxes in the Growth Experience -- 6.18 Government Expenditure -- 6.19 The Fiscal Deficit -- References -- 7 Reflexive, Not Reflective Monetary Policy -- 7.1 Introduction -- 7.2 Reflexive Approach to Inflation -- 7.3 Inflation Targeting Experiences -- 7.4 Supply-Side Inflation -- 7.5 Special Case of Food Inflation in Transition Economies -- 7.6 Chinese High Food Inflation Episode -- 7.7 Nature of Inflation in India -- 7.8 Addressing Demand-Side Inflation -- 7.9 RBI's Inflation "Forecasts" -- 7.10 Expectations Survey -- 7.11 Inflation Pass Through -- 7.12 Wrong Weights for Food? -- 7.13 Specificities Need Recognition -- 7.14 A Broken Compass (or Is the CPI Useless)? -- 7.15 Pay Commission Implementation and Distortions in the Core Inflation -- 7.16 Adjusting for Rents -- 7.17 Transmission Issues -- References -- 8 The COVID Crisis and Response -- 8.1 Before the Crisis -- 8.1.1 Growth Had Slowed Down -- 8.1.2 Inflation Was Low -- 8.1.3 On the Monetary Side: -- 8.1.4 Stimulus Withdrawal and Monetary Tightening -- 8.1.5 Conservative Government Spending -- 8.1.6 GST Raised Effective Tax Rates 8.1.7 Ineffective Corporate Tax Cut -- 8.1.8 Rise in Uncertainties -- 8.2 The COVID Crisis and the Response -- 8.2.1 Contagion Was Limited -- 8.2.2 Prime Minister's Initiative -- 8.2.3 Dysfunctional Lockdowns -- 8.2.4 Fractured Markets -- 8.2.5 Middle-Class Delight -- 8.2.6 Migrant Labor -- 8.2.7 Territoriality of Restrictions -- 8.2.8 Knee-Jerk and Emergent Response -- 8.2.9 Employment Scheme for Workers? -- 8.2.10 Simultaneous Demand and Supply Shock -- 8.2.11 Summer Harvest Escapes -- 8.2.12 Infection Patterns -- 8.3 Anticipating the Effect Through a Model -- 8.4 The Stimulus Package -- 8.5 Impact -- 8.6 RBI's Response -- Annex Table 1. -- References -- 9 The Recovery -- 9.1 Stock Market Performance -- 9.1.1 Discount Rates -- 9.1.2 Model to Explain Stock Valuation -- 9.1.3 Cost and Return Structure of Corporates -- 9.2 GDP and GVA Over the Crisis and Recovery -- 9.3 IIP Over the Months of the Crisis and Recovery -- 9.4 Sectoral Patterns -- 9.5 Industry Wise Recovery -- 9.6 Unemployment -- 9.6.1 Labor Force Participation -- 9.6.2 Reservation Wages -- 9.6.3 Employment -- 9.6.4 Sectoral Patterns -- 9.6.5 Type of Work -- 9.7 Export and Imports -- 9.8 Monetary Developments -- 9.9 Lending Rates -- 9.10 Yields and Credit Flows -- 9.11 Government Expenditure -- 9.12 Inflation -- 9.13 FDI, FII, and the "Fisher-Open" -- Annex -- References -- 10 The Challenge of Manufacturing -- 10.1 Manufacturing and Demand -- 10.2 Sectoral Differences -- 10.3 Growth Trends -- 10.4 Competitiveness in the Eighties -- 10.5 Large Tax Distortions -- 10.6 Auto Sector in the Eighties -- 10.7 Relative Profitability of Exports -- 10.8 Pre-plan Competitiveness -- 10.9 Declining Tariffs and Currency "Overvaluation" -- 10.10 Auto Industry -- 10.11 Electronics Manufacture -- 10.12 The PC Revolution -- 10.13 Policies Designed to Lose -- 10.14 Relative Revealed Comparative Advantage 10.15 Electronics Manufacture in ELG Economies -- 10.16 Fab Before Assembly -- 10.17 Low Bound Tariffs -- 10.18 DIPP and "Thru Put Support" -- 10.19 WTO and the Solar Panels Fiasco -- 10.20 Debilities Faced by the Electronics Industry -- 10.21 ITA and Decline of Electronics Manufacturing -- 10.22 Tariffs and Domestic Prices -- 10.23 EPR's not Easy to Estimate -- 10.24 IS in India -- 10.25 Role of Exchange Rates -- 10.26 Pure Trade Theory Model is Limiting -- 10.27 ELG is Mis-Understood in India -- 10.28 India Moved Towards Laissez Faire not ELG -- 10.29 The Fisher Open and the Nature of FDI -- 10.30 Equilibrium Stances and Dutch Disease -- 10.31 Would "Make in India" Finally Takeoff? -- References -- 11 GST and the Discrimination Against Production Oriented States -- 11.1 Antecedents -- 11.2 Issues in a Destination-Based Tax -- 11.3 Need for State-Level Estimates of Revenue Neutrality (RNR) -- 11.4 Current Estimates of RNR at the State Level -- 11.5 The Consumption-Based Approach -- 11.6 Adjusting NSSO Estimates with NAS PFCE -- 11.7 RNRS (A) -- 11.8 RNRS (AA) -- 11.9 Further Estimates Including Service Taxes -- 11.10 Including Government Purchase -- 11.11 Institutional Mechanism -- 11.12 Conclusions -- References -- 12 Conclusions -- 12.1 Managing the GFC -- 12.2 The Fall from High Growth -- 12.3 Monetary Tightening -- 12.4 Inflation Targeting -- 12.5 Fiscal Conservatism -- 12.6 Programs Without Design -- 12.7 Public Sector Banks -- 12.8 External Environment -- 12.9 Reforms and Macroeconomic Policy -- 12.10 The COVD19 Crisis -- 12.10.1 Stimulus -- 12.10.2 Lockdowns -- 12.10.3 RBI to the Rescue -- 12.10.4 Employment Fall -- 12.10.5 Insipid Recovery -- 12.11 Working Through Reforms -- 12.12 Make in India Today -- 12.13 Debilities on Manufacturing -- 12.14 Not ELG as Yet -- 12.15 Finally -- 12.16 Revised Estimates' Indications 12.16.1 Growth and Recovery -- 12.16.2 Inflation -- 12.16.3 Chinese Disruptions -- 12.17 "Logistics" Inflation -- 12.17.1 Fight the Inflation? -- Uncited References India-Economic policy Erscheint auch als Druck-Ausgabe Morris, Sebastian Macroeconomic Policy in India since the Global Financial Crisis Singapore : Springer,c2022 9789811912757 |
| spellingShingle | Morris, Sebastian Macroeconomic Policy in India since the Global Financial Crisis Trends, Policies and Challenges in Economic Revival Post-Covid Intro -- Preface -- Acknowledgments -- Contents -- Abbreviations -- List of Figures -- 1 Introduction -- 1.1 The Great Liberalization -- 1.2 Global Financial Crisis -- 1.3 The "Tiger" Period -- 1.4 "Reforms" and Macroeconomic Policy -- 1.5 Macroeconomic Policy Could Hurt Reforms -- 1.6 Equilibrium Not "General" -- 1.7 Incorporating Financial Sector (Monetary Side) Stocks -- 1.8 The Problem of Global Capital Flows -- 1.9 Exchange Rate Management -- 1.10 Trends and Their Determinants -- 1.11 After the Global Financial Crisis -- 1.12 Movement to Inflation Targeting -- 1.13 Should the CPI be "Targeted"? -- 1.14 Supply-Side Inflation -- 1.15 Food Inflation is Special -- 1.16 Fiscal Conservatism -- 1.17 Reforms During Modi-I -- 1.18 The COVID Crisis -- 1.19 Employment Decline -- 1.20 RBI's Dynamic Response -- 1.21 Manufacturing Kickoff? -- 1.22 GST and Its Effects -- 1.23 The Coverage -- Annex: Indian Growth Experience -- References -- 2 Trends in Growth Since the GFC -- 2.1 Official 2011-12 National Income Series -- 2.2 Possible Overestimation in GVA11-12? -- 2.3 Index of Industrial Production -- 2.4 IIP Sectors Since 2018 -- 2.5 GDP04-05 Series and GVA11-12 Series -- 2.6 GVA11-12 Series Since 2015-16 -- 2.7 Exports, Imports, and Electricity -- 2.8 Trends in GCF -- References -- 3 Credit, Employment, and the Current Account -- 3.1 Growth and Credit -- 3.2 Employment from CMIE's Surveys -- 3.3 Exports, Imports, and the Current Account -- References -- 4 Capital Formation and Foreign Investment -- 4.1 Gross Capital Formation -- 4.2 Private Investment -- 4.3 Private Sector Investments -- 4.4 Portfolio Flows -- 4.5 FDI -- 4.6 Cumulative FII Flows -- 5 Inflation and Monetary Developments -- 5.1 Inflation Trends -- 5.1.1 Fractured Agriculture Markets and CPI -- 5.1.2 Challenge of Monetary Policy with Open Capital Account -- 5.2 Trends in M, H and NFA. 5.2.1 The "Tiger" Period -- 5.2.2 Impact of GFC -- 5.2.3 "Taper Tantrum" -- 5.2.4 Policy Rates and Bond Yields -- 5.3 Uncertainty in the Financial Markets -- References -- 6 Policy and Analyses -- 6.1 High Growth Continues After GFC -- 6.2 Estimates of the Stimulus -- 6.3 Policy Paralysis -- 6.4 PMEAC's Analysis -- 6.5 Monetary Tightening -- 6.6 Market Rises and Fall -- 6.7 Positive Vibes But Underspending -- 6.8 Unconditional Pursuit of Fiscal Deficit Targets -- 6.9 Scaling Down MGNREGS -- 6.10 Demonetization and Delayed Effects -- 6.11 Authorities Enhancing Risks and Uncertainty -- 6.12 Not External Factors -- 6.13 Real Estate Construction and Growth -- 6.14 Infrastructure and NPAs of Banks in the Slowdown -- 6.15 The GST Effect -- 6.16 Tax "Terrorism" -- 6.17 Taxes in the Growth Experience -- 6.18 Government Expenditure -- 6.19 The Fiscal Deficit -- References -- 7 Reflexive, Not Reflective Monetary Policy -- 7.1 Introduction -- 7.2 Reflexive Approach to Inflation -- 7.3 Inflation Targeting Experiences -- 7.4 Supply-Side Inflation -- 7.5 Special Case of Food Inflation in Transition Economies -- 7.6 Chinese High Food Inflation Episode -- 7.7 Nature of Inflation in India -- 7.8 Addressing Demand-Side Inflation -- 7.9 RBI's Inflation "Forecasts" -- 7.10 Expectations Survey -- 7.11 Inflation Pass Through -- 7.12 Wrong Weights for Food? -- 7.13 Specificities Need Recognition -- 7.14 A Broken Compass (or Is the CPI Useless)? -- 7.15 Pay Commission Implementation and Distortions in the Core Inflation -- 7.16 Adjusting for Rents -- 7.17 Transmission Issues -- References -- 8 The COVID Crisis and Response -- 8.1 Before the Crisis -- 8.1.1 Growth Had Slowed Down -- 8.1.2 Inflation Was Low -- 8.1.3 On the Monetary Side: -- 8.1.4 Stimulus Withdrawal and Monetary Tightening -- 8.1.5 Conservative Government Spending -- 8.1.6 GST Raised Effective Tax Rates 8.1.7 Ineffective Corporate Tax Cut -- 8.1.8 Rise in Uncertainties -- 8.2 The COVID Crisis and the Response -- 8.2.1 Contagion Was Limited -- 8.2.2 Prime Minister's Initiative -- 8.2.3 Dysfunctional Lockdowns -- 8.2.4 Fractured Markets -- 8.2.5 Middle-Class Delight -- 8.2.6 Migrant Labor -- 8.2.7 Territoriality of Restrictions -- 8.2.8 Knee-Jerk and Emergent Response -- 8.2.9 Employment Scheme for Workers? -- 8.2.10 Simultaneous Demand and Supply Shock -- 8.2.11 Summer Harvest Escapes -- 8.2.12 Infection Patterns -- 8.3 Anticipating the Effect Through a Model -- 8.4 The Stimulus Package -- 8.5 Impact -- 8.6 RBI's Response -- Annex Table 1. -- References -- 9 The Recovery -- 9.1 Stock Market Performance -- 9.1.1 Discount Rates -- 9.1.2 Model to Explain Stock Valuation -- 9.1.3 Cost and Return Structure of Corporates -- 9.2 GDP and GVA Over the Crisis and Recovery -- 9.3 IIP Over the Months of the Crisis and Recovery -- 9.4 Sectoral Patterns -- 9.5 Industry Wise Recovery -- 9.6 Unemployment -- 9.6.1 Labor Force Participation -- 9.6.2 Reservation Wages -- 9.6.3 Employment -- 9.6.4 Sectoral Patterns -- 9.6.5 Type of Work -- 9.7 Export and Imports -- 9.8 Monetary Developments -- 9.9 Lending Rates -- 9.10 Yields and Credit Flows -- 9.11 Government Expenditure -- 9.12 Inflation -- 9.13 FDI, FII, and the "Fisher-Open" -- Annex -- References -- 10 The Challenge of Manufacturing -- 10.1 Manufacturing and Demand -- 10.2 Sectoral Differences -- 10.3 Growth Trends -- 10.4 Competitiveness in the Eighties -- 10.5 Large Tax Distortions -- 10.6 Auto Sector in the Eighties -- 10.7 Relative Profitability of Exports -- 10.8 Pre-plan Competitiveness -- 10.9 Declining Tariffs and Currency "Overvaluation" -- 10.10 Auto Industry -- 10.11 Electronics Manufacture -- 10.12 The PC Revolution -- 10.13 Policies Designed to Lose -- 10.14 Relative Revealed Comparative Advantage 10.15 Electronics Manufacture in ELG Economies -- 10.16 Fab Before Assembly -- 10.17 Low Bound Tariffs -- 10.18 DIPP and "Thru Put Support" -- 10.19 WTO and the Solar Panels Fiasco -- 10.20 Debilities Faced by the Electronics Industry -- 10.21 ITA and Decline of Electronics Manufacturing -- 10.22 Tariffs and Domestic Prices -- 10.23 EPR's not Easy to Estimate -- 10.24 IS in India -- 10.25 Role of Exchange Rates -- 10.26 Pure Trade Theory Model is Limiting -- 10.27 ELG is Mis-Understood in India -- 10.28 India Moved Towards Laissez Faire not ELG -- 10.29 The Fisher Open and the Nature of FDI -- 10.30 Equilibrium Stances and Dutch Disease -- 10.31 Would "Make in India" Finally Takeoff? -- References -- 11 GST and the Discrimination Against Production Oriented States -- 11.1 Antecedents -- 11.2 Issues in a Destination-Based Tax -- 11.3 Need for State-Level Estimates of Revenue Neutrality (RNR) -- 11.4 Current Estimates of RNR at the State Level -- 11.5 The Consumption-Based Approach -- 11.6 Adjusting NSSO Estimates with NAS PFCE -- 11.7 RNRS (A) -- 11.8 RNRS (AA) -- 11.9 Further Estimates Including Service Taxes -- 11.10 Including Government Purchase -- 11.11 Institutional Mechanism -- 11.12 Conclusions -- References -- 12 Conclusions -- 12.1 Managing the GFC -- 12.2 The Fall from High Growth -- 12.3 Monetary Tightening -- 12.4 Inflation Targeting -- 12.5 Fiscal Conservatism -- 12.6 Programs Without Design -- 12.7 Public Sector Banks -- 12.8 External Environment -- 12.9 Reforms and Macroeconomic Policy -- 12.10 The COVD19 Crisis -- 12.10.1 Stimulus -- 12.10.2 Lockdowns -- 12.10.3 RBI to the Rescue -- 12.10.4 Employment Fall -- 12.10.5 Insipid Recovery -- 12.11 Working Through Reforms -- 12.12 Make in India Today -- 12.13 Debilities on Manufacturing -- 12.14 Not ELG as Yet -- 12.15 Finally -- 12.16 Revised Estimates' Indications 12.16.1 Growth and Recovery -- 12.16.2 Inflation -- 12.16.3 Chinese Disruptions -- 12.17 "Logistics" Inflation -- 12.17.1 Fight the Inflation? -- Uncited References India-Economic policy |
| title | Macroeconomic Policy in India since the Global Financial Crisis Trends, Policies and Challenges in Economic Revival Post-Covid |
| title_auth | Macroeconomic Policy in India since the Global Financial Crisis Trends, Policies and Challenges in Economic Revival Post-Covid |
| title_exact_search | Macroeconomic Policy in India since the Global Financial Crisis Trends, Policies and Challenges in Economic Revival Post-Covid |
| title_exact_search_txtP | Macroeconomic Policy in India since the Global Financial Crisis Trends, Policies and Challenges in Economic Revival Post-Covid |
| title_full | Macroeconomic Policy in India since the Global Financial Crisis Trends, Policies and Challenges in Economic Revival Post-Covid |
| title_fullStr | Macroeconomic Policy in India since the Global Financial Crisis Trends, Policies and Challenges in Economic Revival Post-Covid |
| title_full_unstemmed | Macroeconomic Policy in India since the Global Financial Crisis Trends, Policies and Challenges in Economic Revival Post-Covid |
| title_short | Macroeconomic Policy in India since the Global Financial Crisis |
| title_sort | macroeconomic policy in india since the global financial crisis trends policies and challenges in economic revival post covid |
| title_sub | Trends, Policies and Challenges in Economic Revival Post-Covid |
| topic | India-Economic policy |
| topic_facet | India-Economic policy |
| work_keys_str_mv | AT morrissebastian macroeconomicpolicyinindiasincetheglobalfinancialcrisistrendspoliciesandchallengesineconomicrevivalpostcovid |