scispace - formally typeset
Search or ask a question
Institution

Indira Gandhi Institute of Development Research

FacilityMumbai, Maharashtra, India
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.


Papers
More filters
Journal ArticleDOI
TL;DR: In this paper, the authors argue that 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.
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.

9 citations

Journal ArticleDOI
TL;DR: In this article, the effects of price changes on measurement of poverty were examined and it was shown that when prices and nominal incomes change, a higher nutritional intake or an increase in commodity consumption of the poor can be associated with higher poverty gaps and a higher poverty index.
Abstract: The paper deals with effects of price changes on measurement of poverty. It is shown that there are situations, when prices and nominal incomes change, a higher nutritional intake or an increase in commodity consumption of the poor can be associated with higher poverty gaps and a higher poverty index of the society. A positive relationship of this kind is quite counter-intuitive in the context of poverty measurement. This is caused by the adjustment of the poverty line and/or incomes of one situation by the prices of the other for the purpose of comparison.

9 citations

Journal ArticleDOI
TL;DR: In this article, the authors used a Structural Vector Auto Regressive (SVAR) model to address the problem in the Indian context over the period January 1980 to August 2004.
Abstract: It is generally believed that financial liberalisation erodes the potency of monetary policy by rendering tenuous the link between monetary aggregates and important macro-economic magnitudes (such as income, prices and exchange rates). This could be accounted for by several factors such as the blurring of the distinction between money and near-money, the breakdown of the money demand function and the easing of credit and liquidity constraints. This hypothesis has been tested in the context of developed economies, where it has derived a measure of support. However, the empirical evidence to test this proposition is somewhat scanty, in the context of less developed countries (LDCs) and emerging market economies (EMEs). This article uses a Structural Vector Auto Regressive (SVAR) model to address this problem in the Indian context over the period January 1980 to August 2004. Using monthly data separate SVAR models are estimated for the pre-liberalisation (1980:03 to 1991:12) and post-liberalisation phases (1...

9 citations

Posted Content
TL;DR: In this article, an analysis for 2004-05 shows that incidence of poverty is 47% for rural and 44% for urban Orissa, and the vulnerable subgroups are southern (73% rural, 55% urban) and northern (59% rural and 43% urban), across National Sample Survey (NSS) regions, the scheduled tribes (76% rural rural, 65% urban and scheduled castes (50% rural.
Abstract: The relatively lower reduction of poverty in Orissa, 0.2 percentage points per annum from 48.6% in 1993-94 to 46.4% in 2004-05, has been a matter of concern. The current exercise attempts to analyse whether part of the explanation lies in the state of affairs in agriculture. An analysis for 2004-05 shows that incidence of poverty is 47% for rural and 44% for urban Orissa. The vulnerable sub-groups are southern (73% rural, 55% urban) and northern (59% rural, 43% urban) across National Sample Survey (NSS) regions, the scheduled tribes (76% rural, 65% urban) and scheduled castes (50% rural, 75% urban) across social groups, the agricultural labourers (65%) and other labourers (52%) in rural areas and casual labourers (56%) in urban areas across household type, and marginal and small farmers (51%) across size-class of land possessed in rural areas. What is even worrying is a much greater incidence of calorie poor (79% rural and 49% urban). This reflects a gap in the poverty line and the calorie that it is supposed to represent and a seeming nutritional crisis even among the groups that resorts to hard labour that includes among others marginal and small farmers and landless households the hands that grow food. The agrarian scenario is in dire straits. Per capita per day returns from cultivation, based on the situation assessment survey of 2002-03, is less than four rupees, a pittance. What is more, in 1990s, agricultural value addition and growth in production has been negative across all crop groups and paddy production, the main crop, shows a decline in all districts. It is this poor showing in agriculture that does partly explain the slow reductions of poverty in the 1990s in Orissa. The call of the hour is people-centric planning that revives the livelihood bases of the farmers and agricultural labourers.

9 citations

Posted Content
TL;DR: This paper investigated the predictive power of Divisia monetary aggregates in explaining exchange rate variations for India, Israel, Poland, UK and US, in the years leading up to and following the 2007-08 recessions.
Abstract: The paper investigate the predictive power of Divisia monetary aggregates in explaining exchange rate variations for India, Israel, Poland, UK and the US, in the years leading up to and following the 2007-08 recessions. One valid concern for the chosen sample period is that the interest rate has been stuck at or near the zero lower bound (ZLB) for some major economies. Consequently, the interest rates have become uninformative about the monetary policy stance. An important innovation in our research is to adopt the Divisia monetary aggregate as an alternative to the policy indicator variable. The paper applies bootstrap Granger causality method which is robust to the presence of non-stationarity in our data. Additionally, it uses bootstrap rolling window estimates to account for the problems of parameter non-constancy and structural breaks in our sample covering the Great recession. The paper finds strong causality from Divisia money to exchange rates. By capturing the time-varying link of Divisia money to exchange rate, the importance of Divisia is further established at ZLB.

9 citations


Authors

Showing all 320 results

NameH-indexPapersCitations
Seema Sharma129156585446
S.G. Deshmukh5618311566
Rangan Banerjee482898882
Kankar Bhattacharya462178205
Ramakrishnan Ramanathan431306938
Satya R. Chakravarty341445322
Kunal Sen332513820
Raghbendra Jha313353396
Jyoti K. Parikh311103518
Sajal Ghosh30727161
Tirthankar Roy251802618
B. Sudhakara Reddy24751892
Vinish Kathuria23961991
P. Balachandra22652514
Kaivan Munshi22625402
Network Information
Related Institutions (5)
World Bank
21.5K papers, 1.1M citations

83% related

International Food Policy Research Institute
4.9K papers, 218.4K citations

81% related

International Institute for Applied Systems Analysis
5K papers, 280.4K citations

80% related

London School of Economics and Political Science
35K papers, 1.4M citations

80% related

Center for Economic Studies
6.9K papers, 250.9K citations

80% related

Performance
Metrics
No. of papers from the Institution in previous years
YearPapers
202310
20225
202143
202027
201945
201844