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The Global Economic Crisis through an Indian Looking Glass

The Global Economic Crisis through an Indian Looking Glass

First Edition

September 2011 | 340 pages | SAGE India
The Global Economic Crisis through an Indian Looking Glass is about the onset and unfolding of the global financial crisis and the great recession of 2008-2009, tracing its origin and causes, dimensions and impact, policy responses, lessons and the way forward from an Indian perspective.

A significant feature of the book is the analysis of the four facets of the crisis: (i) genesis, (ii) impact on the world and India, (iii) the response, and (iv) the aftermath. The objective is to capture the specific aspects of the onset of the crisis and the policy responses, with particular emphasis on the sequencing thereof.

The authors underscore the gaps in the international financial architecture that allow the recurrence of crises with global ramifications and emphasize the importance of cooperation, coordination and collective action to secure and sustain macroeconomic and financial stability across the globe.

The book is a testament to the powerful values of global interconnectedness.

Foreword C Rangarajan
Origin of the Crisis

Proximate Causes of the Crisis

Impact of the Crisis

Impact on India
The Policy Response
Lessons from the Crisis and the Way Forward

The fact that the authors have had a first-hand understanding and a ring-side view of Indian policy settings (in different capacities), and at the same time, the living experience of the international efforts to deal with the crises is reflected in their competent and insightful treatment of a most topical theme that continues to draw both heat and light, and animated engagement in the public space. Their effort is distinctive in that it provides an Indian perspective to the subject and fills an important gap in the swelling literature on the global crisis.

Dr C Rangarajan
Chairman, Economic Advisory Council to the Prime Minister of India

For anyone interested in learning how the recent global financial crisis came about, how it impacted the world and India, and how the latter responded to the challenge posed by it, this book offers a clear and comprehensive one-stop analysis.

Arvind Panagariya
Professor, Columbia University, USA

A large body of literature is already pouring in on the genesis, manifestation, and outcome of the worldwide meltdown, but few have taken the broad international view and combined it with an in-depth study of a large emerging economy. The authors of the book have done it, and done it successfully.

Professor V S Vyas
Member, Economic Advisory Council to the Prime Minister of India

[The book] is notable for its breadth of coverage of issues directly and indirectly...highly informative...a must read for all those interested in the impact of global crisis on India...will be relevant for a long time to come.

ASCI Journal of Management

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