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Mar 28, 2008
Innovation and Growth: Role of the Financial Sector
‘Accelerating productivity growth entails a matching acceleration in the potential output of goods and services and a corresponding rise in the real incomes available to purchase the new output. The problem is that the pickup in productivity tends to create even greater increases in aggregate demand than potential aggregate supply’—Alan Greenspan‘Whatever the supply side may have in store, delivering low and stable inflation—and being expected to do so—is how monetary
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
‘Accelerating productivity growth entails a matching acceleration in the potential output of goods and services and a corresponding rise in the real incomes available to purchase the new output. The problem is that the pickup in productivity tends to create even greater increases in aggregate demand than potential aggregate supply’—Alan Greenspan‘Whatever the supply side may have in store, delivering low and stable inflation—and being expected to do so—is how monetary
Mar 07, 2008
Financial Globalisation, Growth and Stability: An Indian Perspective
Chairman Nout Wellink, Governor Noyer, distinguished academics and fellow central bankers,I am thankful to the Banque de France for giving me this opportunity to participate in the International Symposium on "Globalisation, Inflation and Monetary Policy". I will present some of the aspects of the Indian experience on the subject and conclude by briefly flagging select issues in the light of recent global developments. Financial Sector Reforms In India, reforms to impr
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Chairman Nout Wellink, Governor Noyer, distinguished academics and fellow central bankers,I am thankful to the Banque de France for giving me this opportunity to participate in the International Symposium on "Globalisation, Inflation and Monetary Policy". I will present some of the aspects of the Indian experience on the subject and conclude by briefly flagging select issues in the light of recent global developments. Financial Sector Reforms In India, reforms to impr
Feb 28, 2008
Inclusive Growth - The Role of Banks in Emerging Economies
Ladies and Gentlemen,I am delighted to be here in Colombo and honoured by the invitation of the Central Bank of Sri Lanka to deliver this year’s ‘Independence Commemoration Lecture’. It is my proud privilege to join the illustrious list of previous speakers, who have added laurels to this prestigious lecture series. Today, I would like to share with you India’s experiences on ‘Inclusive Growth’ - a topic which is both current and close to the hearts of public policyma
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen,I am delighted to be here in Colombo and honoured by the invitation of the Central Bank of Sri Lanka to deliver this year’s ‘Independence Commemoration Lecture’. It is my proud privilege to join the illustrious list of previous speakers, who have added laurels to this prestigious lecture series. Today, I would like to share with you India’s experiences on ‘Inclusive Growth’ - a topic which is both current and close to the hearts of public policyma
Feb 14, 2008
The Growth Record of the Indian Economy, 1950-2008: A Story of Sustained Savings and Investment
Rakesh Mohan* I deem it a real privilege to visit the Institute of Economic Growth to deliver the keynote address at this prestigious conference on growth and macroeconomic issues and challenges in India. I am particularly happy that this Conference is being organised by the Institute as a part of its Golden Jubilee celebrations. The Institute has established a long and creditable track record of contributing to economic research consistently over its 50 years history
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Rakesh Mohan* I deem it a real privilege to visit the Institute of Economic Growth to deliver the keynote address at this prestigious conference on growth and macroeconomic issues and challenges in India. I am particularly happy that this Conference is being organised by the Institute as a part of its Golden Jubilee celebrations. The Institute has established a long and creditable track record of contributing to economic research consistently over its 50 years history
Feb 01, 2008
Capital Flows to India
Rakesh Mohan* Introduction In most of the period since the mid-1990s, external sector developments in India have been marked by strong capital flows. Capital flows to India, which were earlier mainly confined to small official concessional finance, gained momentum from the 1990s after the initiation of economic reforms. Apart from increase in size, capital flows to India have undergone a compositional shift from predominantly official and private debt flows to non-deb
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Rakesh Mohan* Introduction In most of the period since the mid-1990s, external sector developments in India have been marked by strong capital flows. Capital flows to India, which were earlier mainly confined to small official concessional finance, gained momentum from the 1990s after the initiation of economic reforms. Apart from increase in size, capital flows to India have undergone a compositional shift from predominantly official and private debt flows to non-deb
Jan 27, 2008
Financial Markets in India Recent Developments and Challenges
Shyamala Gopinath It gives me great pleasure to be with you today at the 9th Annual Conference of Fixed Income Money Market and Derivatives Association (FIMMDA) jointly organised with the Primary Dealers Association of India (PDAI). FIMMDA and PDAI have an important role to play in the development of our debt markets. I am happy to say, these industry bodies have been providing valuable inputs to us, in the Reserve Bank of India in our endeavour to develop our markets
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
Shyamala Gopinath It gives me great pleasure to be with you today at the 9th Annual Conference of Fixed Income Money Market and Derivatives Association (FIMMDA) jointly organised with the Primary Dealers Association of India (PDAI). FIMMDA and PDAI have an important role to play in the development of our debt markets. I am happy to say, these industry bodies have been providing valuable inputs to us, in the Reserve Bank of India in our endeavour to develop our markets
Jan 21, 2008
Development through Planning, Markets or De-centralisation
Prof. Bhole, Seminar Convenor, Prof. Juzer Vasi, Meenakshi Gupta, Prof. Ramnathan, other distinguished invitees, Prof Narayanan, participants of the seminar, ladies and gentlemen, It gives me great pleasure to inaugurate the seminar on, 'Development through Planning, Markets or De-centralisation' during the Golden Jubilee of IIT. The subject of the present seminar is extremely important at the present stage of Indian economic development. This three-day seminar I am s
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
Prof. Bhole, Seminar Convenor, Prof. Juzer Vasi, Meenakshi Gupta, Prof. Ramnathan, other distinguished invitees, Prof Narayanan, participants of the seminar, ladies and gentlemen, It gives me great pleasure to inaugurate the seminar on, 'Development through Planning, Markets or De-centralisation' during the Golden Jubilee of IIT. The subject of the present seminar is extremely important at the present stage of Indian economic development. This three-day seminar I am s
Jan 03, 2008
Some Comments on Macro-Stability in Indian Economy
Professor Nachane, Professor Radhakrishna, distinguished academics and friends, I am thankful to Indira Gandhi Institute of Development Research (IGIDR) for granting me the honour of releasing the India Development Report 2008 (IDR 2008). This is the fifth in the series and I wish to place on record our deep appreciation of the contribution made by Professor Kirit Parikh for the initiative and for establishing a tradition of high quality. I had the benefit of studying
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Professor Nachane, Professor Radhakrishna, distinguished academics and friends, I am thankful to Indira Gandhi Institute of Development Research (IGIDR) for granting me the honour of releasing the India Development Report 2008 (IDR 2008). This is the fifth in the series and I wish to place on record our deep appreciation of the contribution made by Professor Kirit Parikh for the initiative and for establishing a tradition of high quality. I had the benefit of studying
Jan 03, 2008
Management of the Capital Account in India: Some Perspectives
Guest of Honour Respected Professor C. R. Rao, Vice Chancellor Dr. Hasnain, President Professor Radhakrishna, Emeritus Professor Dr. Bhalla and distinguished participants, I am honoured by the kind invitation to deliver the inaugural address of the Annual Conference of Indian Econometric Society. It is a pleasure to be meeting friends in the profession, more so in my home town, Hyderabad. I have little to add to the themes covered in the papers. I thought that it may
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Guest of Honour Respected Professor C. R. Rao, Vice Chancellor Dr. Hasnain, President Professor Radhakrishna, Emeritus Professor Dr. Bhalla and distinguished participants, I am honoured by the kind invitation to deliver the inaugural address of the Annual Conference of Indian Econometric Society. It is a pleasure to be meeting friends in the profession, more so in my home town, Hyderabad. I have little to add to the themes covered in the papers. I thought that it may
Dec 04, 2007
India's Financial Sector Reforms: Fostering Growth While Containing Risk
I am honoured to be back at Yale where I got my basic economics grounding from James Tobin, Bill Nordhaus, and Robert Evenson, among others. In all these years, this is my first lecture at Yale, so I am particularly pleased to have this opportunity. Thank you Professor Srinivasan. The turmoil in international financial markets since late July this year and the increased uncertainty that financial markets are currently experiencing have brought issues relating to finan
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I am honoured to be back at Yale where I got my basic economics grounding from James Tobin, Bill Nordhaus, and Robert Evenson, among others. In all these years, this is my first lecture at Yale, so I am particularly pleased to have this opportunity. Thank you Professor Srinivasan. The turmoil in international financial markets since late July this year and the increased uncertainty that financial markets are currently experiencing have brought issues relating to finan

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