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Shadow cast by the rupee
07 June, 2018, C.P. Chandrasekhar
The rupee has sharply depreciated in the recent weeks giving reason for concern. The external events of rise in oil prices and rate of interest in advanced economies has led to a surge in the current account deficit and capital outflows respectively. The success of 'the liberalization reforms' lies in the huge capital inflows and thus, has enhanced the periodic bouts of the rupee, hinting to symptoms of a bubble economy.
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.
A Bull in a China Shop
26 September, 2017, Prabhat Patnaik
The BJP government, through demonetization and GST, coupled with the world economic situation, it is causing a rare co-occurrence of three phenomena: a stagnation of the countrys’ economy, a revival of inflation, and a yawning current account deficit on the balance of payments. As the era of cheap money in the U.S. and elsewhere come to an end, Indian assets might pass into foreign hands.
The Economy under Modi
20 June, 2017, Prabhat Patnaik
As per official data, half of the country’s population witnessed no improvement in real per capita income over the three Modi years. Other indicators like the demand from net exports, Central Government expenditure (as a proportion of nominal GDP) and number of new jobs created in the organized sector, all reflect a gloomy picture of the Indian economy. The government has been keen on keeping finance capital happy while compromising on these matters.
China's Capital Flight Syndrome
30 January, 2017, C.P. Chandrasekhar
The sudden collapse in reserves due to an outflow of capital in a country that was considered the favoured destination for FDI points towards the fact that China is now paying the price for the capital account liberalisation measures adopted with its entry into the WTO.
Demonetization as the Basis for a Fiscal Stimulus
07 December, 2016, Prabhat Patnaik
What the BJP spokespersons are putting forward that the cash which gets disabled in the black economy would enable the government to spend more on infrastructure or provide cash transfers to the people is sheer deception.
Is the Rupee "Weakening"
18 January, 2016, C.P. Chandrasekhar & Jayati Ghosh
While much concern being expressed about the weakening rupee, it is not the past record that is the problem; rather, its likely direction in the near future is a cause for worry.
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.
The Devaluation of the Yuan
08 September, 2015, Prabhat Patnaik
With the depreciation in the Chinese yuan, the world economy in all probability is going to face a deflation and a "debt-deflation" syndrome.
China's RenMinBi Strategy
18 August, 2015, C.P. Chandrasekhar & Jayati Ghosh
The sudden depreciation of Chinese currency, that has impacted global markets, may be an attempt to revive export growth and provide stimulus to growth to the flagging economy.
Macroeconomic Vulnerability and the Rupee’s Decline
28 October, 2013, C.P. Chandrasekhar
The measures adopted by the government to stem the rupee depreciation rather than being a success may well lead India into a crisis.
How Should We Deal with the Current Account Deficit?
17 September, 2013, C.P. Chandrasekhar & Jayati Ghosh
Although the Rupee has stabilised for the moment, the resolution of India's external crisis is far from sight as the basic source of the problem still remains unaddressed.
Addressing India's External Vulnerability
12 September, 2013, C.P. Chandrasekhar
Stringent quantitative restrictions on the volume of permitted gold imports are a must for addressing the economic difficulties that India faces now.
The Looming Banking Crisis
04 September, 2013, C.P. Chandrasekhar & Jayati Ghosh
The crisis engulfing the Indian economy is expected to affect the corporates and the infrastructural projects burdened with large debt, impacting the Indian banking sector.
A Speculative Attack on the Rupee?
29 August, 2013, C.P. Chandrasekhar
The timing of the rupee’s dramatic decline seems to be caused by a spillover of speculation-driven price trends in the currency derivative markets into the rupee spot market.
None of the experts saw India's debt bubble coming. Sound familiar?
27 August, 2013, Jayati Ghosh
The ongoing slide of the value of Rupee is an inevitable outcome of the debt-driven consumption bubble based growth model that the country had been pursuing.
Perils of Borrowed Prosperity
22 August, 2013, Prasenjit Bose
There are structural aspects underlying India’s external deficit and financing this by attracting more capital inflows will imply growing external indebtedness for the economy.
The Rupee's Decline
10 July, 2013, C.P. Chandrasekhar
The continual fall in the rupee indicates that it is time to correct the deterioration of India’s balance of payments and reduce the country’s dependence on foreign finance.
The Fall of the Rupee
05 July, 2013, Prabhat Patnaik
The fall of the Rupee is not due to isolated India-specific factors, but is a fallout of the general characteristic of the core-periphery relationship in capitalism.
The Falling, Falling…Rupee
28 June, 2013, Jayati Ghosh
The falling rupee that has an immediate inflationary impact is not the result of global forces or US monetary policy, but of domestic economic mismanagement.

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