All Volumes and Issues - आरबीआई - Reserve Bank of India
अक्तूबर 23, 2006
Occasional Papers - Summer and Monsoon 2006
अक्तूबर 23, 2006
A Review of Cross-Country Experience in Capital Account Liberalisation
Mohua Roy, Rekha Misra and Sangita Misra*The paper reviews the experience of select countries - both advanced and emerging markets - in regard to capital account liberalisation (CAL). The advanced countries' experience with regard to CAL is analysed with special focus on the sequencing of CAL. The move towards CAL by many of the emerging market economies (EMEs) during the 1980s and the circumstances that led to some policy reversals and the subsequent change in the ma
अक्तूबर 23, 2006
Identifying Asset Price Bubbles in the Housing Market in India - Preliminary Evidence
Himanshu Joshi* Devoted to the analysis of housing market in India, the paper employs a special decomposition scheme for the structural VAR proposed by Blanchard and Quah (1989) to study the impact of permanent shocks to housing prices attributed to monetary variables and income growth - and, in the process, attempts to identify speculative price bubbles in the housing market. Based on the monthly data, the empirical evidence obtained in the paper suggests that the h
अक्तूबर 23, 2006
The Performance of Regional Rural Banks (RRBs) in India: Has Past Anything to Suggest for Future?
Biswa Swarup Misra* Since their inception, regional rural banks (RRBs) have taken deep roots and have become a sort of inseparable part of the rural credit structure in India. The financial viability of the RRBs has, however, been a matter of concern since the 1980s, just five years after their existence. A number of committees have gone into the issue of their financial viability and possible restructuring. This study follows a deductive approach. First the extent o
अक्तूबर 23, 2006
What Drives Forward Premia in Indian Forex Market?
Anil Kumar Sharma and Anujit Mitra* This paper explores the behaviour of the forward premia for US$ vis-à-vis INR during the five-year period of September 2000 to September 2005. Indian forex market experienced a peculiar phenomenon in the years 2003 and 2004 where the forward premia on US$ spot (cash) vis-à-vis Indian rupee became negative. This phenomenon was somewhat uncommon to Indian forex market wherein Indian rupee was always at discount to US$ in the past. Th
अक्तूबर 23, 2006
Banking Sector Developments in India, 1980-2005: What the Annual Accounts Speak?
Banking sector in India is currently passing through an exciting and challenging phase. The reform measures have brought about sweeping changes in this vital sector of the country's economy. This paper is an attempt to study the trends in important banking indicators for the 25-year period from 1980 to 2005. Analysing the data from balance sheets of banks, the paper draws some important conclusions for the banking sector as a whole as well as for different bank groups
अक्तूबर 23, 2006
Public Finance in Developing and Transitional Countries
The book is a collection of essays presented in a conference held in the honour of Richard Bird whose extensive contribution to the fiscal literature emphasised that the unique standards or norms should not be trusted as the simplistic solutions are dangerously insufficient to deal with complications posed by the real world. His contribution to fiscal federalism has moulded the shape of federalism in several economies. He taught that tax reforms should be based on und
अक्तूबर 23, 2006
High-Tech Industries in China
This book gives the readers a wealth of information on R&D in China. It is said that the rise of India and China as centres of innovation will radically change the technology industry existing today which is based mainly in western countries. This study is exclusively on Chinese high-tech industry but very relevant to India, as India is gradually picking up in technology intensive industries. The book reveals the secrets behind the success of China in developing h
अक्तूबर 23, 2006
State Finances and Effectiveness of Policy Measures: An Analysis of Indian States
Rajmal* This paper provides a phase-wise analytical review of the fiscal situation of the Indian major States over the previous two and half decades and examines the effectiveness of the policy measures to strengthen the State finances. The analysis reveals that the States’ fiscal position showed imbalances, albeit in a varied degree, since the mid-1980s which deepened in the second half of the 1990s. The effectiveness of policy measures has remained largely inadequat
अक्तूबर 31, 2005
Trends in Total Factor Productivity of Manufacturing Sector in West Bengal : A Sectoral and Temporal Analysis
This paper seeks to examine the overall industrial scenario of West Bengal for the past three decades. The paper studies the productivity of capital and labour for the two-digit industry groups and the total factor productivity (TFP) of the manufacturing sector of West Bengal as a whole vis-à-vis all-India and also for some selected groups of industries for West Bengal. West Bengal has lost its earlier status of one of the highly industrialised States of the country.
अक्तूबर 31, 2005
Key Issues on Development
The history of thinking and action on ‘development’ is, perhaps, the story of human civilization itself. However, the modern era of development thought and policy dates back to the end of the Second World War. In this era, the development paradigm has had its share of debate. The major questions, in any such debate, have been mostly as follows: What development is all about? How do we measure it? What is (or are) the approach (es) to development? What is the role of t
अक्तूबर 31, 2005
Business Process Outsourcing Concept, Current Trends, Management and Future Challenges
The title of the book evokes considerable academic interest given its topical significance. The book is broadly divided into nine parts. The theme of the book is on current trends of business process outsourcing (BPO) in India. A detailed study on outsourcing is especially relevant to India in the light of outcry from the West against exporting jobs. In this regard a recent citing may be noted: - "Catholics outsource prayer requests- Shortages of US priests have churc
अक्तूबर 31, 2005
Boom and Slump Periods in the Indian IPO Market
This paper attempts a detailed investigation of the boom and slump phases in the Indian primary capital market. It concentrates on two key variables, namely, IPO volume and initial returns and analyses their nature and interrelation during these two periods. This study also analyses the firm-specific characteristics and their influence on the timing of a company getting listed in the hot and cold market. The IPO volume series was autocorrelated over the entire period
अक्तूबर 31, 2005
A Revisit
I am very happy to respond to Govenor Reddy’s request that I write "a detailed Preface to the reprint of the First Volume of the History of the Reserve Bank of India, which would give the readers the full background." It is an excellent idea of Dr. Reddy to elicit from the author, after about thirty-five years, important and interesting aspects of the background of the History that may contribute to a full understanding of the contents of the History, not even a comma
अक्तूबर 31, 2005
Outsourcing to India : The Offshore Advantage
The world economy has fast turned into a ‘service economy’ since the 1990s. Services revolution across the globe has changed the business map and the way business is conducted. Around the world, phenomenal growth of services sector has outstripped the growth in real GDP in a number of economies from Asia and the OECD. This high growth of services has been aided by the expansion of trade in services due to increased tradability of a variety of business and other servic
अक्तूबर 31, 2005
Occasional Papers - Summer, Monsoon and Winter 2004
अक्तूबर 31, 2005
Liquidity Adjustment in Value at Risk (VAR) Model : Evidence from the Indian Debt Market
Conventional Value at Risk models are severely constrained while dealing with liquidity risk. This inevitably leads to an underestimation of overall risk and consequently misapplication of capital for the safety of financial institutions. Standard Value at Risk (VaR) model assumes that any quantity of securities can be traded without influencing market prices. In reality, most markets are less than perfectly liquid and many securities cannot be traded with ease in mar
अक्तूबर 31, 2005
International Trade in Goods : Performance of India vis-a-vis a Few Important Economies in South and East Asia
This paper analyses India’s performance in international trade in goods with a few important economies in South and East Asia, viz., China, Hong Kong SAR (China), Taiwan (China), Indonesia, Republic of Korea, Malaysia, Philippines, Singapore and Thailand based on certain trade indicators during the years 1980, 1990, 2000, 2001, 2002 and 2003. It is observed that performance by India in merchandise trade did not compare well with these economies. However, the study rev
अक्तूबर 31, 2005
The Interbank Money Market in India : Evidence on Volatility, Efficacy of Regulatory Initiatives and Implications for Interest Rate Targetting
The working of the interbank money market (the call money market) and the conduct of monetary policy are inextricably linked in economies that depend predominantly on indirect instruments of monetary policy. The stability of the call money rate, namely, the rate at which short term funds are lent and borrowed is, therefore, of critical importance to central banks which view it as an operational target to signal the stance of monetary policy. Experience shows that regu
फ़रवरी 04, 2005
Rural Income : Some Evidence of Effect of Rural Credit During Last Three Decades
Tapas Kumar Chakrabarty* Introduction Section I The Reserve Bank’s Initiatives towards Rural Credit : An Historical Perspective Section II Some Quantitative Analysis of Rural Credit Section III Empirical Results Section IV Concluding Observations The growth of the rural economy is an important driver of the economy as a whole. Sectoral demand matrices substantiate the importance of the rural demand to boost other activities. The present study tri
फ़रवरी 04, 2005
Global Acquisitions: Strategic Integration and the Human Factor
by Stan Lees, Palgrave McMillan, New York, 2003, pp.275, US $ 45 Mergers and acquisitions (M&As), joint ventures (JVs) and other forms of strategic alliances have recorded a tremendous growth in recent years. Acquisitions have become a generic strategy for many companies. Today 50 large multi-nationals, as an outcome of multiple acquisitions, drive the global economy and control around 25 per cent of total U.S. corporate assets. There are life cycle reasons behin
फ़रवरी 04, 2005
Privatisation and Public Regulation: The Indian Experience
by Simrit Kaur, Macmillan India Ltd., New Delhi, 2003, Page 276, Price Rs. 385 The first four decades since independence witnessed an impressive growth of Public Sector Enterprises (PSEs) as they were envisaged as a matter of policy to assume the ‘commanding heights’ of the economy. The generally poor performance of PSEs in relation to expected goals radically altered the perceptions about the role of PSEs in the last decade and a half, and a persistently weak fiscal
फ़रवरी 04, 2005
Determinants of Adoption of HYV Rice in West Bengal
by Anamitra Saha* Published by K. P. Bagchi & Company, Kolkata, 2004, Page: 200, Price Rs. 300 The history of agriculture is the history of intensification. Intensification follows successful innovations. It was innovation in the yields that is Green revolution in the mid-sixties, that catalyzed a metamorphosis from the conditions of food shortage to one of self-sufficiency and beyond- making India in the process, a world leader in the number of agricultural comm
फ़रवरी 04, 2005
Rural Credit and Class Differentiation - West Bengal under Left Interventionist Regime
By Sudipta Bhattacharyya, K.P. Bagchi & Company, Kolkata, 2003 pp xvi +216, Rs.450 Indebtedness of peasantry is considered as the root cause of backwardness in agriculture, which in turn gives rise to class differentiation. One of the most important reasons for indebtedness/ miseries among the peasants of rural India is the dependence on the usury capital. In order to give relief to the indebted peasantry from the burden of high interest rates, banks were nationa
फ़रवरी 04, 2005
Occasional Papers - Winter 2003
फ़रवरी 04, 2005
The Reserve Bank of India’s Balance Sheet: Analytics and Dynamics of Evolution(Part 1 of 2)
Narendra Jadhav, Partha Ray, Dhritidyuti Bose and Indranil Sen Gupta* The present paper attempts to contribute to the growing literature on central bank balance sheets drawing on a case-study of the Indian experience. The analytical commentary on the evolution of the Reserve Bank of India Balance Sheet in relation to the post-Independence national macroeconomic experience is partitioned into three phases on the basis of shifts in the conduct of monetary policy. Inter
फ़रवरी 04, 2005
Dynamics of Market Structure and Competitiveness of the Banking Sector in India and its Impact on Output and Prices of Banking Services
Kaushik Bhattacharya and Abhiman Das* The paper examines the nature and the extent of changes in the market concentration in the Indian banking sector and their possible implications on prices and output of banking services. The first part of the paper attempts to measure market concentration in banking in India in alternative ways from 1989-90 to 2000-01. In contrast to earlier empirical applications on banking, it focuses on both static and dynamic measures of mark
फ़रवरी 04, 2005
Derivatives and Volatility on Indian Stock Markets
Snehal Bandivadekar and Saurabh Ghosh * Introduction Section I Literature Survey Section II Empirical Analysis Section III Conclusions Derivative products like futures and options on Indian stock markets have become important instruments of price discovery, portfolio diversification and risk hedging in recent times. This paper studies the impact of introduction of index futures on spot market volatility on both S&P CNX Nifty and BSE Sensex using
फ़रवरी 04, 2005
Changing Pattern of Seasonality in Prices and Industrial Production in India
Ajit R. Joshi and A. K. Tripathi* The changing pattern of seasonality reflects the changing structure of the economy. The analysis of the seasonal factors of the select variables has shown that overall seasonality has undergone a downward shift in almost all the selected economic variables. This is an indication that the economy is becoming less susceptible to the shocks during the year. Decreasing seasonal variations in prices indicate better supply management. Sea
फ़रवरी 04, 2005
Non-Performing Loans and Terms of Credit of Public Sector Banks in India: An Empirical Assessment
Rajiv Ranjan and Sarat Chandra Dhal* This paper explores an empirical approach to the analysis of commercial banks' non-performing loans (NPLs) in the Indian context. The empirical analysis evaluates as to how banks’ non-performing loans are influenced by three major sets of economic and financial factors, i.e., terms of credit, bank size induced risk preferences and macroeconomic shocks. The empirical results from panel regression models suggest that terms of credit
फ़रवरी 04, 2005
Allocative Efficiency of the Indian Banking System in the Post-Reform Period: A State Level Analysis
Biswa Swarup Misra* This paper examines whether allocative efficiency of the Indian Banking system has improved after the introduction of financial sector reforms in the early 1990s. Allocative efficiency has been studied for twenty three States of India. To get a comparative perspective, allocative efficiency has been estimated for two periods 1981-1992 and 1993-2001; broadly corresponding to the pre financial sector reforms and the post reforms periods, respectivel
फ़रवरी 04, 2005
The Reserve Bank of India’s Balance Sheet: Analytics and Dynamics of Evolution(Part 2 of 2)
फ़रवरी 04, 2005
Inventory Investment Behaviour -Evidence from a Panel of Indian Firms
Seema Saggar* Introduction II Review of Literature III Data IV Inventory Investment in India- Some Stylised Facts V Determinants of Inventory Investment – an empirical exercise VI Estimation Results VII Conclusions The paper augments production-smoothing specification with cash flows and monetary policy variables in its application for the Indian data. Several interesting findings emerge from the analysis. However, the results obtained need to be
दिसंबर 29, 2003
Social Sector Expenditure and Attainments : An Analysis of Indian States
दिसंबर 29, 2003
Analytics of Credit - Output Nexus in India
दिसंबर 29, 2003
Reserve Bank’s Clean Note Policy : An Overview
Special Notes Reserve Bank’s Clean Note Policy: An Overview R. K. Jain* Reserve Bank is charged with the responsibility of providing adequate supply of currency for facilitating transactions of the Government, banks and the public. Over the years, with the expansion of the economic activities and growth, the volume of currency in circulation has multiplied by many times. Of late, it was observed that many of the notes in circulation were soiled and mutilated a
दिसंबर 29, 2003
Financial Infrastructure and Economic Development : Theory, Evidence and Experience
Financial Infrastructure and Economic Development: Theory, Evidence and Experience V. B. Angadi* Last three decades have witnessed economists’ growing interest in exploring for a possible link between financial structure and economic activities. In more recent years, the horizon of economists’ inquiry has expanded to include the interrelationship between financial infrastructure and economic development. Financial infrastructure of an economy is defined in this paper
दिसंबर 29, 2003
Fiscal Expansion: Keynesian Recent Econometric Evidence from India
Fiscal Expansion: Keynesian Recent Econometric Evidence from India Tapas Kumar Chakrabarty* Feeling or sense of ‘adjustment fatigue’ becomes costlier. The present study tries to get some preliminary econometric evidence of fiscal impact on growth during 1990-91 to 2000-01, using data (relative fiscal variables as well as growth variable) relating to the Indian Economy. The study indicates that fiscal policy was marginally effective to influence the growth of the Ind
दिसंबर 29, 2003
Short-term Forecast of Corporate Investment since 1970s : Three Decades in Restrospect
दिसंबर 29, 2003
The Subsidy Syndrome in Indian Agriculture by Ashok Gulati and Sudha Narayanan
Book Reviews The Subsidy Syndrome in Indian Agriculture by Ashok Gulati and Sudha Narayanan, Oxford University Press, New Delhi, 2003, pages 297, Price Rs.695 The Uruguay round of Agricultural Agreements (URAA) has brought subsidies in to sharp focus as it seeks to bring the world of trade under some discipline; its objective is to reduce trade-distorting subsidies. This has compelled countries to reappraise their policies on subsidies vis-à-vis the URAA/World Trade
दिसंबर 29, 2003
Occasional Papers - Summer and Monsson 2003
दिसंबर 29, 2003
Central Bank Strategies, Credibility and Independence : Global Evolution and the Indian Experience
CONTENTIntroduction I. Central Banking: Global Evolution II. Central Banking in India:A. Foundation PhaseB. Expansionary PhaseC. Consolidation and Diversification PhaseD. Financial Sector Liberalisation Phase III. Contemporary Issues in Central Banking A Formulation and Conduct of Monetary Policy i) Objectives ii) Intermediate Targetiii) Operating Procedures of Monetary Policyiv) Central Bank AutonomyB. Financial Stabilityi) Emerging Issuesii) External Sector Manageme
दिसंबर 29, 2003
Free Trade Zone (FTZs) and Special Economic Zones (SEZs) : The Great Indian Dream
Free Trade Zones (FTZs) to Special Economic Zones (SEZs):-The Great Indian Dream by Thothathri Raman and Prof. Parag Diwan, Pentagon Press, New Delhi, 2002, pages 306, Price Rs 495. The Book "Free Trade Zones (FTZs) to Special Economic Zones (SEZs):- The Great Indian Dream" has dealt extensively with Special Economic Zones (SEZs) of China and Export Processing Zones (EPZs) of India, including a small topic on similar zones in other countries. The book, besides othe
जून 09, 2003
The Relationship Between Risk and Capital: Evidence from Indian Public Sector Banks
Abhiman Das and Saibal Ghosh*The study investigates the relationship between changes in risk and capital in the public sector banking system in India, using both the seemingly unrelated regression (SUR) and the two stage least square (2SLS) method of estimation. Empirical findings establish a negative and significant impact of size on capital, indicating that large banks increased their ratio of capital to risk weighted assets less than other banks. Regulatory pressur
जून 09, 2003
The Effectiveness of Intervention in India: An Empirical Assessment
Sitikantha Pattanaik and Satyananda Sahoo*The empirical assessment conducted in this paper suggests that intervention operations of the Reserve Bank have been effective in containing exchange rate volatility of the Rupee, even though the degree of influence does not appear to be very strong. Estimated results also indicate that intervention operations may not be very effective in influencing the exchange rate levels. India’s stated exchange rate policy fully recognise
जून 09, 2003
International Business Cycles Beyond G-7: The Case of India
O.P.Mall*This paper examines the co-movements of business cycle in India, Germany, Japan, UK and USA during 1950-2000. In view of the largely closed nature of Indian economy and the dominant role of the public sector during the early period, it is interesting that the Indian business cycles have some correspondence with the business cycles in UK and also with the USA especially in the post-1980 period. The roles of foreign trade, foreign capital investment, oil-price
जून 09, 2003
Sustainability of Services-Led Growth: An Input Output Analysis of the Indian Economy
(Part 2 of 3)
(Part 2 of 3)
Appendix Table 1: Sectoral Intensity - Sector and Activity-wise ActivityGaRankG*aRankGiRankG*iRankGsRankG*sRank 12345678910111213 Agriculture 1Paddy19.81428.31211.38031.9797.88618.3802Wheat15.31921.31817.47343.8677.28819.1773Jowar11.92520.8196.69319.1926.48914.0904Bajra11.82620.1218.19121.8876.39014.1895Maize12.32419.9238.98823.4856.19214.2886Gram11.72716.3305.110313.71003.71068.41047Pulses22.41133.6910.58329.5828.08319.0788Sugarcane6.7358.6435.410212.91013
जून 09, 2003
Exchange Rate Dynamics: An Indian Perspective
N.K.Unnikrishnan and P.R.Ravi Mohan*Based on monthly data from January 1996 to March 2002 on exchange rate, net purchase by the Reserve Bank of India, data on open market operations in the debt market and Nominal Effective Exchange Rate (NEER), the paper develops a Generalised Autoregressive Conditional Heteroskedastic (GARCH) model for USD/INR exchange rate. Major conclusions of the paper are the following: (i) central bank intervention reduces volatility in the mark
जून 09, 2003
Who Needs the IMF as an International Lender of Last Resort?
Sitikantha Pattanaik*In the context of the growing international perception that the International Monetary Fund (IMF) cannot and should not function as an International Lender of Last Resort (ILOLR), this note presents a perspective on why the emerging market economies need the IMF as an ILOLR. It argues that the risk of financial instability and associated loss of output and employment is a more serious concern than the risk of moral hazard, and that an effective an
जून 09, 2003
Agricultural Marketing in India: Problems and Prospects
R.K. Jain*Since the existing agricultural marketing system in India was developed in the context of a planned economy, a fresh approach to marketing is necessary in the liberalised and globalised atmosphere. The National Agriculture Policy also envisages the need for a new demand driven set up catering to domestic as well as export markets. The promotion of an efficient marketing system is, therefore, necessary for expediting agricultural growth in India. In this cont
आरबीआई मोबाइल एप्लीकेशन इंस्टॉल करें और लेटेस्ट न्यूज़ का तुरंत एक्सेस पाएं!
पृष्ठ अंतिम बार अपडेट किया गया: मार्च 04, 2024
