5 June 2013: Is India Hedged Against Systemic Risk?

Gurbachan Singh
Indian Statistical Institute, Delhi

Abstract:
India has large twin deficits, high prices of some real assets, and (less talked about) fragile financial interdependence between banks and the government. These are all ingredients of systemic risk. However, India so far has had a reasonably good record of avoiding financial crises. This is due to five mitigating factors: (a) financial repression in banks, (b) unanticipated jumps in the inflation rate, (c) somewhat regular bailouts, (d) misplaced confidence, and (e) good GDP growth. The first three factors have persistent and arguably high costs. The fourth factor is not a reliable “hedge” against systemic risk. Finally, growth can camouflage the problem, but is not a structural solution. The paper suggests the need to reduce vulnerabilities and the role of costly or unreliable mitigating factors. It suggests a set of consistent and far reaching policies that are long-term in nature.

Date: June 5, 2013
Time: 03:30 P.M.

Venue:
NCAER Conference Room
National Council of Applied Economic Research
Parisila Bhawan, 11, Indraprastha Estate
New Delhi-110002(INDIA)

Location:

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21 May 2013: Drivers of India's Monetary Policy

Urjit R. Patel, Deputy Governor
Reserve Bank of India

Date: May 21, 2013
Time: 12:30 P.M.

Venue:
Conference Hall
Centre for Policy Research,
Dharma Marg, Chanakyapuri,
New Delhi–110021(INDIA)

Location:

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6 May 2013: Growth Challenges facing Policymakers Today

Danny Leipziger
George Washington University

Abstract:
The policy environment within which countries are currently operating is a constrained one with joblessness and low growth pervading the advanced economies. The challenges of generating growth among emerging and developing countries are thus different than in the past. This has led many to suggest changing growth paradigms and a revised view on the role of the government. Danny Leipziger will share his perspectives on the policy challenges that countries are facing and the difficulties of avoiding the middle income trap and dealing with significant shifts in the nature of global demand.

Date: May 6, 2013
Time: 03:30 P.M.

Venue:
NCAER Conference Room
National Council of Applied Economic Research
Parisila Bhawan, 11, Indraprastha Estate
New Delhi-110002(INDIA)

Location:

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Note:
Please join us for tea after the seminar. For queries, please contact Ms Sudesh Bala at sbala@ncaer.org or on 011-2345-2669.