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The Gathering Storm Clouds
28 May, 2018, Praveen Jha & Amit Chakraborty
The Indian Economy has all along been critically dependent upon the inflow of speculative finance to sustain its balance of payment. It now faces threatening prospects of a spiral as international crude oil prices and U.S. interest rates, that kept its import bill restricted, are on the rise.
Once again, the oil price scare
22 May, 2018, C.P. Chandrasekhar & Jayati Ghosh
As oil prices rise again, countries like India that had benefited from relatively low prices in recent years have to reconsider their growth and macroeconomic strategies.
The return of the oil threat
11 May, 2018, C.P. Chandrasekhar
As oil-producing countries, especially Saudi Arabia and Russia, stick to their reduced outputs and as Trump threatens to isolate Iran with sanctions once again, the spectre of high oil prices and the accompanying inflation seem very real.
Oil: The big 100 per cent story
02 February, 2015, C.P. Chandrasekhar & Jayati Ghosh
In a puzzling development, some financial markets registered a decline in the wake of the recent dramatic fall in oil prices. So, is the oil price fall not all good news?
The Age of "High" Oil
09 March, 2012, C.P. Chandrasekhar & Jayati Ghosh
The recent spike in the international prices of oil suggests that the recession-induced dip in oil prices may be behind us. Political uncertainty and financial speculation have trapped the world in a regime of high and rising oil prices.
The G20 and Employment Outlook
12 October, 2011, Jayati Ghosh
A recent ILO document on employment and labour market outlook in G20 countries points towards an economic crisis of major magnitude in most of them. According to the report, the two key challenges for global policy makers at present are to ensure better utilisation of labour resources and better quality jobs.
Global Oil Prices
13 July, 2011, Jayati Ghosh
Recent price changes in global oil markets are increasingly affected by forces that have more to do with financial speculation and expectations than with current movements in demand and supply. In the current oil price surge, the real gainers are the financial speculators in oil futures markets and the big oil companies.
Cloud over Islamic Banking
26 December, 2009, C.P. Chandrasekhar & Jayati Ghosh
When Dubai World decided to suspend payments on its $26 billion debt, among the loans involved was a $4.05 billion repayment on a $3.52 billion sukuk or Islamic bond issue. This presence of an instrument that has gained some prominence in recent times has questioned the credibility of the rapidly expanding field of Islamic commercial and investment banking.
G20 and the Global Power Balance
06 October, 2009, C.P. Chandrasekhar
When the 19 heads of state and a representative of the European Union declared that from now on it would be the G20 and not the G8 that would be responsible for managing global capitalism they were merely recognising the unavoidable. However, if expansion of the club responsible for managing global capitalism was unavoidable, the G20 reflects the combination which would be preferred by the leading powers.
Tainted Money
10 May, 2009, C.P. Chandrasekhar
There is increasing concern the world over regarding the role of tax havens in promoting tax evasion and money laundering. This is the opportunity to fulfil demands that the violations of law that permit the accumulation of illegal wealth abroad by India's rich and powerful in Swiss and similar banks accounts need to be investigated, the offenders must be prosecuted and the money brought back and directed towards pushing growth and improving welfare domestically.
Balance of Payments: Do We Need to Worry?
01 August, 2008, C.P. Chandrasekhar & Jayati Ghosh
It has been some time now since the government has stopped bothering too much about the balance of payments. Indeed, the continuous and even excessive build-up of foreign exchange reserves (which now stand at more than $310 billion, making India’s holding the fourth largest in the world) suggests that the problem may be one of plenty rather than scarcity, far removed from the days when the foreign exchange constraint was seen as binding upon domestic economic growth.
HDR 2003: The Index versus the Approach
21 July, 2003, C. Rammanohar Reddy
The story every year with the Human Development Report of the United Nations Development Programme is that it attracts notice for a short while, only to be forgotten quickly. This will be the case in 2003 as well. The global ranking of countries according to their human development index (HDI)
World Economy: The Oil Shadow
22 September, 2000, C.P. Chandrasekhar
The world economy is booming, with the US in the lead. Yet uncertainty generated by the high level of oil prices is spoiling the party. Officials and Ministers who gathered at Prague late September for the biannual meetings of the World Bank and the IMF had much to celebrate.

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