Of Economics, Policy, and Development

Of Economics, Policy, and Development An Intellectual Journey

Edited by Deena Khatkhate · Y.V. Reddy
Oxford University Press November 2012

Specifications

ISBN-13
9780198078982
Publisher
Oxford University Press
Publication
November 2012
Format
Hardback , 480 pages
Jurisdiction
India ? Countri(es) for reference only

Details

  • Essays of Dr I.G. Patel, a distinguished economist and policymaker
  • Edited by two illustrious economists
  • Includes theoretical and empirical essays on development
  • Insightful essays on banking, money, and finance
  • Policy-oriented

This book is a collection of essays of Dr I.G. Patel, a distinguished economist and policymaker, on a wide range of issues related to theory and policy in the areas of money, finance, trade, balance of payments, and economic development. These essays provide insights in to Dr Patel's deep grasp of economic theory and econometric techniques. Modifying economic theory to solve the problems of India and other similarly situated countries, they reveal how macroeconomic theory predominant in developed countries assumed new meaning and dimension in the context of economic development. The articles contain a tapestry of ideas which are still relevant in the contemporary Indian and global economic setting.

Readership: Students and scholars of development economics, money and finance, Indian economy, as well as policymakers and government agencies.

Table of Contents

List of Tables, Figures
Preface
Acknowledgements
Introduction
PART I: MONETARY AND CREDIT POLICY
1. Demand for Money During Periods of Inflation and Stabilization
2. Nature and Significance of Monetary Policy and its Instruments
3. Selective Credit Controls in Underdeveloped Economies
4. Some Thoughts on Monetary and Credit Policy
5. Monetary Policy Revisited
6. Communication Policy of Central Banks
Part II: GOLD POLICY
7. India's Elasticity of Demand for Gold
8. On Turning Gold into Base Metal
PART III: ECONOMIC DEVELOPMENT AND PLANNING
9. Exports by Countries in Process of Industrialization
10. The Challenge for the Newly Industrializing Countries
11. Capital Formation in Private Corporate Sector
12. Physical Planning
13. The Second Five Year Plan: A Tentative Framework
14. The Role of the Public Sector in a Small Open Economy
15. The First Five Year Plan of China (1953-1957): An Appraisal
PART IV. GROWTH, EQUITY, SOCIAL JUSTICE
16. The Socialist Legacy
17. Growth, Modernization, Self-Reliance, and Social Justice
18. Equity in a Modern Society
19. The Idea of India as an Ideal
PART V. ECONOMIC REFORM AND POLICY IN INDIA
20. The Vision for a New India
21. India's Economic Reforms and Development
22. Current Unease with Indian Economic Reform
PART VI. BANKING AND THE FINANCIAL SYSTEM
23. Role of Banks and Financial Institutions in Corporate Finance
24. Capital Market Regulation
PART VII. INTERNATIONAL ASPECTS
25. Role of PL-480 Supplies in the Development of India
26. Trade and Payments Policy for a Developing Economy
27. Lessons from the Monetary Events of 1971
28. Indebtedness of Developing Countries
29. A New International Economic Order?
30. The Adjustment Problem
31. Protectionism: Its Causes and Manifestations
PART VIII. MISCELLANY
32. Professor A.C.Pigou: A Memoir
33. The Adam Smith Perspective
34. Advising the Advisers
Epilogue by Y.V. Reddy
References

About the Author

Edited by Deena Khatkhate, former Assistant Director at the International Monetary Fund, and Edited by Y.V. Reddy, former Governor of Reserve Bank of India, currently, Emeritus Professor at the Central University, Hyderabad

Deena Khatkhate, former assistant director at the International Monetary Fund, former senior consultant for the United Nations and the World Bank. Y.V. Reddy, former Governor of Reserve Bank of India, currently Emeritus Professor at the Central University, Hyderabad.

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