| Description |
1 online resource : illustrations |
| Series |
Routledge revivals |
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Routledge revivals.
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| Contents |
Cover; Dedication; Title; Copyright; Contents; List of tables; List of graphs, charts and figure; Acknowledgements; Preface; 1 Introduction; 1.1 The backdrop; 1.1.1 Some stylized facts; 1.1.2 Key research questions; 1.2 Major objectives; 1.3 Methodology and database; 1.4 Organisation of the book; 2 Macroeconomic Adjustment in India: Nature of the Policy Setting; 2.1 Introduction; 2.2 India's emerging macroeconomic environment -- 1950-1990; 2.2.1 The antecedents of the Indian macroeconomic crisis; 2.2.2 The 1991 policy response |
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2.3 An analysis of performance of recent macroeconomic policies since 19802.3.1 Effect of liberalisation on growth; 2.3.2 Effect of policies on controlling inflation; 2.3.3 The nexus between fiscal deficit, BOP, and money supply; 2.4 Conclusion; 3 Annals of Indian Macroeconomic Modelling Efforts; 3.1 Introduction; 3.2 Macroeconomic models of the Indian economy; 3.2.1 Plan models and computable general equilibrium models for India; 3.2.2 Macroeconometric models; 3.2.2.1 Theoretical difficulties in building macroeconometric models for India |
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3.2.2.2 Specific components of macroeconometric models3.2.3 Control-theoretic models; 3.3 A critical appraisal; 3.4 Conclusion; 4 Policy Models for Growth-oriented Macroeconomic Adjustment: An Analytical Critique; 4.1 Introduction; 4.2 The model; 4.2.1 Assumptions of the model; 4.2.2 The macroeconomic framework; 4.2.3 The monetary component; 4.2.4 The growth component; 4.2.5 The merged model; 4.3 A criticai look at the model; 4.4 Conclusion; 5 Dynamics of Macroeconomic Adjustment with Growth: Some Simulation Results; 5.1 Introduction; 5.2 The analytical model; 5.2.1 Structure of the model |
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5.3 Econometric evidence for the investment model5.4 Dynamic responses to policy shocks; 5.4.1 The basic model; 5.4.2 The extended model; 5.4.3 Modelling expectations; 5.5 Conclusion; 6 A Dynamic Macroeconometric Model for Short-run Stabilisation; 6.1 Introduction; 6.2 Analytics of the stabilisation model; 6.2.1 The VS model; 6.2.2 Critiques of the VS model; 6.2.2.1 Monetary disequilibrium; 6.2.2.2 Export function; 6.2.2.3 Import function; 6.3 Dynamics of Indian inflation; 6.4 Model estimation; 6.4.1 Pre-tests for integration and cointegration; 6.4.2 Empirical results; 6.5 Model simulation |
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6.6 Conclusion7 Determinants of Long-term Growth: A Keynesian Approach; 7.1 Introduction; 7.2 Analytics of economic growth; 7.2.1 Neoclassical model with endogenous growth; 7.2.2 Export-led model of growth; 7.3 Empirical analysis; 7.3.1 Testing for stationarity; 7.3.2 Cointegration and short-run dynamics; 7.4 Conclusion; 8 Designing Adjustment Policies with Growth in the Optimal Control Framework; 8.1 Introduction; 8.2 The model; 8.2.1 Definition of variables used in the model; 8.2.2 Structure of the model; 8.2.3 Dynamic properties of the model; 8.3 The design of optimal control exercise |
| Summary |
First published in 1999, this influential volume explores Macroeconomic Adjustment with a particular focus on India. Its inspiration originated from the introduction of stabilisation and structural adjustment policies in India in 1991. Mallick examines the application of this policy package by the International Monetary Fund and the World Bank to Developing Economies. First looking at the initial conditions and generators of imbalances, the appropriate policy framework for India's initial conditions and structural characteristics is considered. While the effectiveness of the IMF had been strongly criticised, Mallick explains how it could be used more effectively. He argues that the programs applied are often contradictory and, using India as an example, examines the effects of policy reform on its trade sector, the repercussions on the direct economy and the costs associated with such policies in restoring stability and future economic growth, with particular support for the Vector Autoregression (VAR) framework. Mallick forwards a new structural model for policy purposes, evaluated for overall performance and optimal control |
| Bibliography |
Includes bibliographical references |
| Notes |
Print version record |
| Subject |
Economic stabilization -- India -- Econometric models
|
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Macroeconomics -- Econometric models.
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BUSINESS & ECONOMICS -- Economics -- Macroeconomics.
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POLITICAL SCIENCE -- Economic Conditions.
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SOCIAL SCIENCE -- General.
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Economic history
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Economic stabilization -- Econometric models
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Macroeconomics -- Econometric models
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| SUBJECT |
India -- Economic conditions -- 1947- -- Econometric models
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| Subject |
India
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| Form |
Electronic book
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| ISBN |
9780429450594 |
|
0429450591 |
|
9780429834158 |
|
0429834152 |
|
9780429834165 |
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0429834160 |
|
9780429834172 |
|
0429834179 |
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