Foreign Investor Appetite C. P. Chandrasekhar and Jayati Ghosh

A brief decline in portfolio inflows into equity markets has raised the question whether foreign investment flows into India have peaked. The evidence of investments in debt markets suggest otherwise. That, however, need not be all good news. Foreign_Investor_Appetite (Download the full text in PDF format) (This article was originally posted in the Business Line on September 11 2015)

Problems with Neoclassical Economics Amiya Kumar Bagchi

While there are a few examples of successive use of mathematics in forming empirically tested mainstream theorems, excessive misuse of this tool in neoclassical economics leave little coherence between its “rational being” and realism. In fact, many examples prove that it fails to observe the tenets of its own canon, and people are compelled to consume beyond their need and capacity, even in the face of mounting unemployment. Problems_Neoclassical_Economics (Download the full text in PDF format)

Trade Finance: Effects Of The Basel Capital Framework and Other Regulatory Developments Andrew Cornford

The impact of the Basel III capital adequacy framework requires detailed analysis. Have the rules relating to trade finance slowed down world trade? What are the implications for money laundering, and changes in banks' operations in response to global environmental challenges? Trade_Finance (Download the full text in PDF format)

The Triple Talaq verdict: Victory in one battle in a much longer war C.P. Chandrasekhar and Jayati Ghosh

The Supreme Court’s welcome verdict in the Triple Talaq case should bring public attention to the problems and needs of separated and divorced women across all religious communities in India. Triple_Talaq (Download the full text in PDF format) (This article was originally published in the Business Line on August 28, 2017.)

What is really happening in Indian Manufacturing? C.P. Chandrasekhar & Jayati Ghosh

Data on organised manufacturing production do not really capture the impact of demonetisation and its effects on demand, but looking at some sub-sectors of consumer non-durable goods provides more insight. Indian_Manufacturing (Download the full text in PDF format) (This article was originally published in the Business Line on August 14, 2017.)

‘Riskless Capitalism’ in India: Bank credit and economic activity Rohit Azad, Prasenjit Bose and Zico Dasgupta

The Indian growth story of the 2000s’ cannot be over-simplistically explained as a result of “market-oriented” reforms. Public sector bank credit-financed investments, particularly in the infrastructure sector, played a significant role in sustaining growth, most crucially after the global economic crisis. Such a growth trajectory, however, proved to be unsustainable with the expansionary phase coming to an end in 2011–12 and bad loans piling up in the banking system. Riskless_Capitalism  (Download the full text in PDF format) This article was originally posted in Economic & Political Weekly on August 5, 2017.

Growth in the Time of a Credit Squeeze C.P. Chandrasekhar and Jayati Ghosh

GDP growth figures for the last few years have camouflaged a deceleration in credit growth that has affected all but the retail loans segment quite adversely. Credit_Squeeze (Download the full text in PDF format) (This article was originally published in the Business Line on July 31, 2017.)

Demography and care in Europe: The impact of social relations C.P. Chandrashekhar and Jayati Ghosh

Trends in social relations are both affected by and impact upon economic changes. These in turn have an important bearing on desirable patterns of spending in the care economy, as suggested by an examination of recent marital trends in Europe. Demography_Europe (Download the full text in PDF format) ( This article was originally published in the Business Line on July 17, 2017.)