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Finance versus the People
27 August, 2018, Prabhat Patnaik
There is a fundamental contradiction between democracy and neo-liberal capitalism. This contradiction can be seen from the exuberance of the market with the removal of a challenge to communal authoritarianism.
Market Fever and its Aftermath
13 March, 2018, C.P. Chandrasekhar & Jayati Ghosh
As fears of a market downturn cloud sentiment, the factors that led up to the bull run and their implications need to be studied and learnt from.
The Indian economy in 2017
02 January, 2018, Jayati Ghosh
This was the year that the economy tanked. Not necessarily in terms of official growth figures: according to the CSO, GDP growth decelerated, but not by that much....
Stock Market: Does patience pay
21 December, 2015, C.P. Chandrasekhar & Jayati Ghosh
The perception that investors looking for above average returns can turn to the stock market so long as they are willing to stay invested for extended periods doesn’t hold.
The Retail Investor as Anchor
06 October, 2015, C.P. Chandrasekhar
A pullout by FIIs underlies the market decline is broadly agreed upon, but that the decline would have been much greater but for a contrary entry of retail investors is less commented on.
No Case for Complacence
05 October, 2015, C.P. Chandrasekhar
The yuan depreciation can trigger a chain of events that would convert the creeping world recession into another full-fledged crisis and India cannot be immune from contagion.
Black Notes in the Stock Market
17 August, 2015, C.P. Chandrasekhar
Even though SIT strongly recommends that PNs should be phased out if they cannot be made more transparent, they are unlikely to be banned as the government fears investor exit.
Great Dream of Prosperity
21 July, 2015, C.P. Chandrasekhar
The emphasis on the latest GDP growth numbers, when the figures from other indicators point to the opposite, may be the government’s only option to show that all is well.
The Economy: The end of euphoria
27 May, 2015, C.P. Chandrasekhar
Despite having a good fortune of lower international oil prices, the Modi government failed to deliver growth in its first year while the expectations are still very high.
Is the Bull Run Over?
08 May, 2015, C.P. Chandrasekhar
Downturn in financial market is inevitable, but the fact that a host of investors driven by the herd instinct live in denial complicates matters and worsens the outcome.
Indian Exceptionalism
15 April, 2015, C.P. Chandrasekhar
Official satisfaction with the decision by Moody's to raise India's sovereign rating may be ignoring the possibility that the agency missed an important source of vulnerability.
Households and India’s Stock Markets
17 February, 2015, C.P. Chandrasekhar & Jayati Ghosh
Whilst India's stock markets touch dizzying heights, households are withdrawing from the market as they are influenced more by returns registered in short periods.
Debt in Asian vulnerability
25 November, 2014, C.P. Chandrasekhar & Jayati Ghosh
Amidst stock market euphoria, the growing international debt exposure of certain Asian countries, particularly Hong Kong, China and India, is a matter of major concern.
The Herd Instinct at Work?
26 September, 2014, C.P. Chandrasekhar
The SENSEX is driven by herd instinct of FII inflow coming with assumptions which are at best speculative; the trend may get reversed in case of a rise in the interest rate.
The Rupee's Climb
23 May, 2014, C.P. Chandrasekhar
A surge of capital inflow appreciated the rupee while the RBI is not keen to intervene due to inflation implications. Rupee may stabilise or start depreciating again later.
Stock Market Boom amidst Economic Crisis
19 May, 2014, Prabhat Patnaik
The stock market boom, within a slowdown in the economy, serves the interest of the finance capital, and the crisis cannot be addressed because the boom has to be sustained.
Pre-election Euphoria?
15 April, 2014, C.P. Chandrasekhar
The recent surge in the Sensex despite sagging performance of the overall economy reflects selective speculation by international finance which makes it more volatile.
The Sensex and the Economy
08 April, 2013, C.P. Chandrasekhar
The central bank's cheap credit and easy money policies have helped the Indian stock market to remain reasonably positioned even when the economy sinks.
The Insensitive Sensex
15 October, 2012, C.P. Chandrasekhar & Jayati Ghosh
While growth slows down in India, the only index faring well is the Sensex. The short term speculators armed with central bank’s cheap credit and easy money policies have helped it remain high though volatile.
Market Madness Again
11 October, 2010, C.P. Chandrasekhar
The signals emanating from the highest economic policy making quarters have helped talk up the Indian market, allowing equity prices to outrace earnings and fundamentals that has resulted in the current speculative boom that seems similar to the bubble that burst not so long ago. This signals that it is time the government regulates and limits the capital inflows.

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