I pointed out last week that all countries (including the US) control their financial systems, since these are the most imperfect of markets, prone to panic and systemic collapse. I said the IMF viewed forex controls as old-style socialist controls […]

Indian policy makers should focus on boosting growth so that a boost in savings will follow, says Swaminathan Anklesaria Aiyar If there is one thing that all finance ministers from Manmohan Singh and Chidambaram to Yashwant Sinha and Madhu Dandavate

The international financial system has cracked apart like a smashed eggshell, and all the imp\’s horses and all the IMF\’s men cannot put it together again. That is why President Clinton of the US and Prime Minister Blair of Britain

The international financial system has cracked apart like a smashed eggshell, and all the imp\’s horses and all the IMF\’s men cannot put it together again. That is why President Clinton of the US and Prime Minister Blair of Britain

The old left is smiling. It is gleeful about the economic disaster in East and South-East Asia; about the collapse of Russia; about the strong possibility of Latin America becoming the next domino. Even the USA, whose booming economy once

Russia today proves the point that economic reform cannot take place in the absence of governance. When governance collapses, no mount of foreign money can save a failed state like Russia. Quick-fixes like those attempted by the IMF will fail

For years, leftists have criticised the Washington Consensus, seen as the joint manifesto of the World Bank, IMF and USA. The Consensus, according to the left, says \”Liberalise everything, create a minimal state, be tough in fiscal and monetary matters.\”

Indian politics is about quotas. We have demands for a quota for Parliamentary seats for women, a sub-quota for backward caste women, job reservations for backward Muslims and Dalit Christians. Now, granting reverse discrimination is a form of social progress,

I was recently in Nepal, and met many of its promising young economic journalists. None of them was gung-ho about the country’s future. Most felt that Nepal had deep structural problems that were difficult to overcome. They cited three main

The conventional wisdom in development economics now holds that economic success occurs only where the state does an excellent job in non-market areas like education, health and rural development. Bangladesh has come up with an original alternative. It has a