The Global Economic Crisis Through an Indian Looking Glass

by Adarsh Kishore, Michael Debabrata Patra, Partha Ray

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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.

ABOUT THE AUTHOR Partha Ray

Partha Ray is currently Adviser to the Executive Director (India, Bangladesh, Sri Lanka and Bhutan) at the International Monetary Fund, Washington D.C. for more than a decade he, as an economist at the department of Economic Analysis and Policy, reserves Bank of India, has been involved with applied economic research with policy content. He also has been associated with a number of official committees on policy matters. Educated in Kolkata, Mumbai and Oxford, he has published extensively on issues related to baking and monetary policy in professional journals in India and abroad. He taught economics to undergraduate students in RBC College, university of Kolkata during 1987-89.