Monetary Policy: Oxford India Short Introductions

Paperback | May 15, 2013

byPartha Ray

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The Oxford India Short Introductions are concise, stimulating, and accessible guides to different aspects of India. Combining authoritative analysis, new ideas, and diverse perspectives, they discuss subjects which are topical yet enduring, as also emerging areas of study and debate. Monetary policy plays a pivotal role in shaping interest rates and controlling inflation. Turbulence in both during the recent global financial crisis and current sovereign debt crisis in Europe has accentuated the ever-growing interest in the role of monetary policy and the functioning of centralbanks. It is in this context that this Short Introduction analyses the evolution of Indian monetary policy over the historical timeline of 1934 to present times. Dividing this period into several epochs, the author explains how at various points the monetary policy was shaped by the need of hour, beit the policy of credit control to support planned development in the 1950s or the introduction of liquidity adjustment facility to meet the needs of the changing economy in the post-liberalization phase. He also shows how India's monetary policies and practices have helped it absorb the shocks ofthe financial crisis.

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The Oxford India Short Introductions are concise, stimulating, and accessible guides to different aspects of India. Combining authoritative analysis, new ideas, and diverse perspectives, they discuss subjects which are topical yet enduring, as also emerging areas of study and debate. Monetary policy plays a pivotal role in shaping inte...

Partha Ray is Professor, Economics Group at the Indian Institute of Management Calcutta in Kolkata.

other books by Partha Ray

Format:PaperbackDimensions:224 pages, 7.28 × 4.92 × 0.07 inPublished:May 15, 2013Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198075413

ISBN - 13:9780198075417

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Table of Contents

List of TablesFigures and Boxes1. What is Monetary Policy?2. The Early Years: 1934-503. The Foundation Stage: 1951-684. Bank Nationalization and Credit Planning: 1969-855. Monetary Targeting: 1986-986. Multiple Indicator Approach and Liquidity Adjustment Facilities: 1998 OnwardsEpilogueAnnexure: RBI GovernorsReferencesIndex