Reining in the inflationary dragon

A lot is being written about inflation in India today. I thought it’s worth writing about the fascinating insights into inflation that come from focusing on the distinction between tradeables and non-tradeables.

What is a tradeable

A tradeable is a product which can be transported across the world at relatively low cost. As an . . . → Read More: Reining in the inflationary dragon

Globalisation: the glass is half empty

One of the many fascinating facts that you see in Economic History and Modern India: Redefining the Link by Tirthankar Roy (Journal of Economic Perspectives, Summer 2002) is about India’s trade/GDP ratio. The trade/GDP ratio rose dramatically from 1 to 2 per cent in 1800 to 20 per cent in 1914.

By 1970, the . . . → Read More: Globalisation: The Glass is Half Empty

Three new papers

The first is an entry titled India which is forthcoming in Elseviers Encyclopaedia of Financial Globalisation, edited by Gerard Caprio. It’s our attempt at a bird’s eye view of what is known, and not known, about India’s financial globalisation.

The second is a treatment of exchange rates and monetary policy and inflation. There are . . . → Read More: Three New Papers