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The Demise of Bank Credit
02 January, 2018, C.P. Chandrasekhar & Jayati Ghosh
Growing economies generally show increasing deployment of bank credit – but in India this has been decreasing for years and recently has been almost flat. What does this suggest about the growth process and the health of the Indian economy?
The Illusion of an Economic Spring
17 May, 2017, C.P. Chandrasekhar
While policy makers, analysts and observers paint a picture of an ongoing global economic recovery, the numbers seem to drag the optimists down.
Factor Shares in the Indian Economy
17 April, 2012, C.P. Chandrasekhar & Jayati Ghosh
The functional distribution of national income is relatively ignored by researchers interested in income distribution in India. An analysis of CSO’s data on factor shares in the past three decades shows that the the period of most rapid acceleration of growth was also the period of the sharpest fall in the share of the unorganised sector in GDP. Although this change is to be welcomed, the concern is that it has been accompanied by no increase of the organised sector’s share in total employment.
Food Inflation and Agricultural Swaraj
03 January, 2011, Rahul Goswami
The price of a basket of staple foods has become crippling in rural and urban India. The government's response is to favour agri-commodity markets, greater retail investment and more technology inputs. For food growers and consumers alike, the need for genuine farm swaraj has never been greater.
The Crisis and Employment in Asia
15 February, 2010, C.P. Chandrasekhar & Jayati Ghosh
Ever since the global financial and economic crisis broke, the International Labour Organisation (ILO) has been regularly tracking its impact on the level and quality of employment. In January 2009, the ILO (International Labour Office 2009) indicated that, under alternate scenarios, global unemployment could increase by between 18 million or 51 million people worldwide from 2007 to 2009.
Global Trade in a Time of Crisis
28 July, 2009, C.P. Chandrasekhar & Jayati Ghosh
With the world well into the second year of a recession whose intensity is unprecedented in the period since the Second World War, two questions are receiving considerable attention.
The Signs of a Global Recovery
16 June, 2009, C.P. Chandrasekhar & Jayati Ghosh
Finance Ministers of the G8 meeting at Lecce in Italy during the latter part of week ending June 14, were cautiously optimistic. The final communiqué noted that in the aftermath of efforts at financial stabilisation and fiscal stimulation ''there are signs of stabilization in our economies, including a recovery of stock markets, a decline in interest rate spreads, (and) improved business and consumer confidence''. But, the ministers cautioned ''the situation remains uncertain and significant risks remain to economic and financial stability''.
The Union Budget 2004-05 and employment
06 August, 2004, Jayati Ghosh
Much was expected of the new government's budget. It is after all the first really serious policy statement of the new government, since the National Common Minimum Programme (NCMP) is more a wish-list of proposed policies and programmes.
Employment Guarantee: A Distant Dream
15 July, 2004, Sukanya Bose
The Common Minimum Programme did strongly foreground the issue of employment generation and the necessity for a pro-active public policy geared towards this all-important objective. Yet the 2004-5 budget, the first budget of the non-NDA coalition government reflecting its actual macroeconomic priorities as against its own popular rhetoric, has not addressed the issue of employment generation at all.
On the Economic Survey 2003-04
10 July, 2004, Jayati Ghosh
The Chairperson of the UPA, Mrs. Sonia Gandhi, and the government that she helped to create, appear to inhabit two very different countries. The India Mrs. Gandhi lives in and travelled through widely during the election campaign is a country in the throes of economic crisis, especially in the countryside. It was the people of this country that she recognised and addressed, in all the speeches she gave about the problems faced by farmers, the lack of jobs for the people, the inadequacy and poor quality of the most basic public services, the hunger and despair that affect backward regions, the growing inequality.
Cotton and International Trade: Unfair Prices for the Developing World
05 October, 2003, Ranja Sengupta
In the post WTO era, ever since agriculture was opened up to free global trade, world prices of cotton have witnessed a sharp and steady decline. Despite the avowal to cut protection in agriculture, the post WTO era has not seen any reduction in protection that is being given to farmers in rich developed countries like the US and the European Union.
More Gloom Ahead for The World Economy
10 January, 2003, Jayati Ghosh
The fog that has enveloped much of north India over the past weeks, seems to have a counterpart in the fog that is currently surrounding the international economy. While the past year was both turbulent and depressing for the world economy as a whole, and especially for some regions such as Latin America, the indications are that things are not going to get much better for some time.
Planning by Statistical Jugglery
18 October, 2002, C. Rammanohar Reddy
In many ways the intellectual force of Indian planning ended with the Third Plan (1961-66). While economic reforms were more than a quarter century away, what followed after the mid-1960s as only a ritual without content, with no purpose other than to keep the residents of Yojana Bhavan busy from day to day.
The Nepad Initiative : Famine and Conquest in Africa
02 July, 2002, C.P. Chandrasekhar
Recent months have witnessed two significant developments in the African continent. One, the re-emergence of food shortages in southern Africa, posing a real threat of famine in the region. Two, the launch of the New Partnership for African Development (Nepad), a programme framed by the joint effort of several African governments.
Latin America's Failed Tryst with Marketism
28 December, 2000, Jayati Ghosh
It is one of the odd things about economics, that the more the data - and the actual reality - show a particular tendency, the more most economists persist in believing the opposite. How else can one explain the axiomatic belief among mainstream (and even not-so mainstream) economists today, that neo-liberal marketist policies which give a lot of freedom and power to large capital, generally encourage higher economic growth and employment even if they do not necessarily deliver in terms of reducing poverty and inequality ?
The Model of a "Service Economy"
17 November, 2000, C.P. Chandrasekhar
In India, as in the rest of the world, the share of the services sector in the GDP of the country has risen quite sharply. A rise in the share of services in the GDP generated by the private sector, from 29 per cent in the early 1980s to 35 per cent by the mid 1990s, ensured that services came to account for as much as 43 per cent of GDP in 1996-97.

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