History of Monetary Policy in India Since Independence

• Main Author: Goyal, Ashima (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: New Delhi : Springer India : Imprint: Springer, 2014.
• Series: SpringerBriefs in Economics,
• Subjects: Finance.; Macroeconomics.; International economics.; Economics.; Macroeconomics/Monetary Economics//Financial Economics.; Finance, general.; International Economics.

The book discusses Indian post-independence monetary history in the context of the country’s development and the global changes of the period. The conceptual framework used is the SIIO (Structure, Ideas, Institutions and Outcomes) paradigm. That is, structure and ideas become embedded in institution...

Table of Contents:

• Chapter 1: Structure, ideas and institutions
• Structure: Sectors, Growth and inflation, Politics, Government finances
• Ideas: Keynes modified, Monetarism in the aggregate, Globalization - ideas and domestic impact, New Keynesian theories in emerging markets
• Institutions: Precedents and path dependence, Strengthening institutions, Openness, markets and CB autonomy, Bank Governors and Delegation in India
• Chapter 2: Policy Actions and Outcomes
• The historical trajectory
• Excess demand or cost shocks?
• Openness, inflows and policy
• Money markets and interest rates
• The global crisis, response and revelation of structure
• Trends in money and credit
• Conclusion.