The essays in this volume are based on lectures delivered by Y.V. Reddy in various parts of the world. They discuss the complex but under-documented structural micro-aspects of economic reforms in India, examining the process from conceptualization of policy to its development, refinement and implementation. The book explores dilemmas and issues faced by policy-makers in meeting the evolving uncertainties. The volume distinguishes between measures requiring legal changes, policy reorientation, procedural revamping and operational finesse. The tasks ahead for institutions, both public and private, are drawn up with a focus on accountability and transparency. Reddy evaluates the implementation of financial sector reforms in the context of monetary policy and the financial market in India, which is being liberalized. The book should be of interest to regulators, journalists, professional bankers, economists, and general readers.
ABOUT THE AUTHOR Y V Reddy
Dr Yaga V. Reddy served as the Governor of Reserve Bank of India from September 2003 to September 2008. He is currently Emeritus Professor, Department of Economics, University of Hyderabad. He has been a member of the Commission of Experts of The President of the UN General Assembly on Reforms of The International Monetary and Financial System. He has also been a Guest of Committee on Global Thought, Columbia University, New York. His contributions were recognised by Award of Doctor of Letters (honoris causa) by Sri Venkateswara University, India; and Doctor of Civil Law (honoris causa), by University of Mauritius. He was also elected as Honorary Fellow of the London School of Economics and Political Science.Prior to being the Governor, he was Executive Director for India, Sri Lanka, Bangladesh and Bhutan at the International Monetary Fund. This was preceded by his stint as Deputy Governor, Reserve Bank of India. He was also Secretary, Ministry of Finance, and Additional Secretary, Ministry of Commerce in the Government of India. He served the Government of Andhra Pradesh, India, in several capacities including Principal Secretary and Secretary Finance and Planning. He was also advisor in the World Bank.He has been closely associated with several academic institutions in teaching and research capacities. He has authored several articles and published a number of books, including the recent highly successful India and the Global Financial Crisis: Managing Money and Finance.
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