Macroeconomics and Markets in India

This insightful book examines India's economic performance post-global financial crisis, exploring factors behind its success, including management strategies and policy decisions.

In the wake of the global financial crisis, India emerged as a standout performer, navigating a landscape marked by significant international volatility. The book Macroeconomics and Markets in India delves into whether this success can be attributed to sheer luck or astute management. It poses critical questions about the role of macroeconomic policy and its effectiveness in a non-standard reform path. Through the insights of senior Indian policy economists, market participants, and researchers, the text explores the lessons that can be drawn from India's experience for the global community.

The narrative also examines contrasting perspectives on the pace of financial reform. Some argue that the rapid relaxation of foreign borrowing norms left firms vulnerable to external shocks, while others contend that a sluggish approach stifled financial development. The book highlights the complexities of capital flows and their impact on domestic markets, emphasizing that while liberalization of risk-sharing equity has been beneficial, there remains room for improvement in risk management strategies.

Ultimately, Macroeconomics and Markets in India provides a nuanced analysis of India's economic journey, suggesting that while luck and inherent strengths have played a role, the timing and combination of policy reforms have been crucial. The discussions within this volume offer valuable insights not only for India but also for other nations grappling with similar economic challenges.