The Financial Sector Legislative Reforms Commission is one of the important elements of economic reforms in India. It now has a website.Justice Srikrishna and Chirag Anand at the inaugu...
Thursday, 29 March 2012
Wednesday, 28 March 2012
From August 2007 onwards, the Department of Economic Affairs (DEA) of the Ministry of Finance (MoF) has collaborated with NIPFP on a new kind of research arrangement titled the `NIPFP-DEA Research Program'. This institutional innovation induces capacity building in the fields of macroeconomics and finance at the Macro/Finance Group of NIPFP, original academic and policy papers in these fields which are released into the public domain, and policy...
Saturday, 24 March 2012
The new Indian journalism: Vinod K. Jose in Caravan magazine profiles Narendra Modi.Bibek Debroy on the prospects for the CPI(M) in West Bengal.Ronald U. Mendoza has an article on voxEU which should ideally trigger off similar research by political scientists in India, about politics as a family business.A caucasus wedding, by an unnamed US foreign service person. This is fascinating reading from two points of view. First, I'd love to get the Wikileaks report about the same wedding filed by the corresponding Indian...
by Lant Pritchett.The US had a chance to lead. It abdicated that chance, to playdomestic politics and put forward a US nominee who is manifestly lessqualified to be head of the World Bank, than the alternative candidatenominated by African countries: Ngozi Okonjo-Iweala.The World Bank is a full-service development institution thatprovides loans, grants and development advice to promotedevelopment, which is the transformation of countries towardsprosperous economies that support broad based improvements in materialwell-being, democratic polities...
Saturday, 10 March 2012
by ShubhoRoy and Ajay Shah.A milestone for SEBI in its rule-making functionSEBI is a modern financial regulator in that it issues `subordinatelegislation' (i.e. regulations) which constitute law. These laws embedintricate domain knowledge where Parliament does not have the capacityfor detail. This separation -- where Parliament sets up SEBI and givesit the power to write subordinate legislation -- is the hallmark ofmodern regulatory arrangements. This needs to be accompanied bysophisticated arrangements through which such regulatory agencies areindependent,...
Thursday, 8 March 2012
When I was young, resounding explosions and other fireworks were an integral part of Diwali. It was not possible to conceive of Diwali any other way. If you extrapolated into the future, and envisioned the next doubling of GDP, you'd have forecast that there would be much more than 2x the explosions and other glittering displays, assuming that social mores stayed unchanged.There was a dark side to such Diwali celebrations: the inevitable trickle of people engaging with explosives who got hurt, extreme discomfort for all forms of life other than...
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