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Leapfrogging into Services
26 April, 2018, C.P. Chandrasekhar
The argument that services reflect a new dynamism in India and the IMF’s prescription that the sector can be a driver of growth and development are far-fetched.
Understanding "Secular Stagnation"
15 October, 2015, C.P. Chandrasekhar & Jayati Ghosh
This article discusses the issue of the "new normal" of low or stagnating output growth that the analysts and reports of international organisations are talking about.
Employment Shifts after the Global Crisis
04 October, 2011, C.P. Chandrasekhar & Jayati Ghosh
The stagnation of employment in developed countries and apparent recovery in developing countries after the Great Recession of 2008-09 have renewed perceptions of a global shift in employment to the developing world, particularly in manufacturing activities. This article uses the most recent available ILO data to examine the extent to which such a shift is actually occurring.
Revisiting Capital Flows
04 May, 2011, C.P. Chandrasekhar & Jayati Ghosh
In a recent move the IMF surprised many by revising its position on the use of capital controls and making a case for them in special circumstances. It has followed this up with an analysis of capital flows to developing countries, which also explains its partial rethink on the use of capital controls by developing countries.
Fiscal Discipline and All That
27 July, 2010, Jayati Ghosh
There was a sudden resurgence in Keynesian ideas everywhere when the global financial crisis broke in September 2008. But, equally suddenly, financial markets have once again turned back on state intervention and policy makers are giving in to demands for massive cuts in public expenditure that would require enormous sacrifices from their populations.
Surely Not the IMF Again?
18 November, 2008, Jayati Ghosh
There is an urgent need to examine alternative sources of emergency finance for crisis-affected developing countries, which are less destructive than the IMF. The latter?s intellectual autism and double standards in policy prescriptions for industrial and developing countries are once again reflected in its most recent World Economic Outlook.
Fund-Bank Meet: New Signals from Washington
25 October, 2002, C.P. Chandrasekhar
Even as it gets difficult for the IMF to continue to function in the old way, it is seeking to adapt itself and the environment to ensure the realization of the same goals.
Can a Divided G-7 Stall a Global Downturn?
04 May, 2001, C.P. Chandrasekhar
The G-7, the rich man's club of developed nations, stands divided over the policies needed to stall the deceleration in growth of the world economy. While there is not much disagreement over whether the US and the rest of the world is likely to experience a significant economic slowdown, opinions differ on whether the observed slack in the system is a temporary correction and whether interest rate cuts are the best way to redress the problem.
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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