Indira Gandhi Institute of Development Research

About: Indira Gandhi Institute of Development Research is a facility organization based out in Mumbai, Maharashtra, India. It is known for research contribution in the topics: Monetary policy & Inflation. The organization has 307 authors who have published 1021 publications receiving 18848 citations.

Towards a conceptual framework for development of sustainable development indicators for an urban setup

Abstract: Bruntland Commission’s report led to popularisation of notion of sustainability and a boom in the development of sustainable development indicators (SDIs). Numerous efforts have been made worldwide in constructing SDIs at global, national, and local scales, but India has been lacking in such initiatives. Motivated by this dearth of studies and prevailing sustainability risks in million-plus cities in India, this paper develops an SDI framework to assess sustainability of resources for city of Mumbai. With a systematic consideration of 16 SDI initiatives across the world, it reviews different SDI frameworks – their advantages, limitations, and applications. A multi-view black box (MVBB) framework has been introduced by eliminating the system component from the extended urban metabolism model (EUMM) and introducing three-dimensional views of economic efficiency (EE-view), social well-being (SW-view), and ecological acceptability (EA-view). Important domain areas and sectors are identified and a model has been demonstrated applying MVBB framework on energy domain.

Components of the Wholesale Bid-Ask Spread and the Structure of Grain Markets: The Case of Rice in India

Abstract: In this paper we propose a new method of splitting up the Bid-Ask Spread of the wholesalers in grain markets into its three constituent components: the order processing costs, the adverse information cost and the inventory holding cost. It is argued that the extant methods of splitting up this spread are peculiar to stock markets and cannot be applied to grain markets. The proposed method is shown to be more general than the extant approaches. This new method is used to examine the constituents of the bid-ask spread in the grain markets of twelve major centers in India. The results are then linked to the production and consumption patterns in these centers.

Post Covid-19: recovering and sustaining India's growth.

Abstract: The paper discusses past virtuous growth cycles in India and argues that the post Covid-19 macro-financial package is an opportunity to trigger another such cycle by raising marginal propensities to spend above those to save. This is feasible since the major constraints that aborted such cycles in the past are waning. Among these constraints are commodity price shocks and other supply-side bottlenecks; financial repression and discretionary allocation; and fiscal space. While the first constraint is relieved, and there is adequate progress on the others, fiscal space is still constrained. Even so, the Covid-19 crisis necessitates a large macroeconomic stimulus. In order not to overstrain government finances it should be targeted, temporary and self-limiting. Financing features can aid this as well as improve financial stability. Large government assets can be monetized to help restructure towards more effective government spending. Specific policy implications are drawn out.

Banks, policy, and risks: how emerging markets differ

Abstract: Emerging market (EM) banks differ from advanced country banks. They may be weaker in some respects but are stronger in others. Neither of these is well understood leading to inappropriate policy. Scale and cross-border exposures for banks in emerging economies are lower compared to advanced economies. The path of market development and regulatory evolution has helped reduce structural risks but some of the distinctive broad-pattern regulation used creates good incentives that could fill gaps in global regulatory reforms if more widely applied. Since markets remain thin, and interest rate spreads are high, EM banks are vulnerable to large fluctuations in policy rates. Cyclical risks can be contained as long as policy makers moderate the rates. Global regulatory reform can also reduce risks. The argument is illustrated with the Indian case.