ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Vijay JoshiSubscribe to Vijay Joshi

India and a Carbon Deal

There is now a growing consensus among governments that aggressive climate change mitigation is desirable, though they remain bitterly divided about how the associated burden should be shared. India's stand in climate negotiations, like that of most developing countries, has been largely negative. This paper examines the importance of a cap-and-trade mechanism as the keystone of a global mitigation agreement and estimates the cost of abating carbon in power generation in India, if and when carbon capture and sequestration technology becomes available for deployment. It concludes that India should be ready to reconsider its position and negotiate to join a mitigation treaty, say in 2020, if it can secure a fair deal.

Real Exchange Rate, Fiscal Deficits and Capital Flows: Refutation Again

Real Exchange Rate, Fiscal Deficits and Capital Flows: Refutation Again VIJAY JOSHI Deepak Lal, Suman Bery and Devendra Kumar Pant (hereafter LBP) claimed in an article in this journal that India sacrificed a substantial amount of growth in the decade of the 1990s as a consequence of accumulating foreign exchange reserves [Lal et al 2003]. In particular they claimed that if the reserves had been absorbed, India would have grown by anything up to 8.5 per cent per year, not the 5.8 per cent that actually occurred. I disputed this claim in Joshi (2004) and argued that in the same counterfactual scenario, India

Macro-Economic Stabilisation in India, 1991-1993 and Beyond

Macro-Economic Stabilisation in India, 1991-1993 and Beyond Vijay joshi I M D Little Stabilisation is a necessary accompaniment of structural reform (that is crisis-driven. But there is scope for choice as regards the content of a stabilisation programme and the pace at which it is carried out. So the natural questions to ask with respect to stabilisation are whether its content, pace and timing are appropriate from the viewpoint of supporting the reform process and achieving the fundamental objectives of policy such as growth and poverty alleviation.

Future Trade and Exchange Rate Policy for India

The authors propose a trade policy for India which would be much less protective than the spectrum of customs duties envisaged for 1997-98 by the Chelliah Committee. The Committee's proposals, they argue, are not only too protective (and hence biased against exports) but also much too complex.

Increase in India s Growth Rate-Facts and a Tentative Explanation

Increase in India's Growth Rate Facts and a Tentative Explanation Sandeep Bhargava Vijay Joshi This article considers changes in India's growth rate at the aggregate and broad sectoral levels as well as at the disaggregated sub-sectoral levels. The authors investigate whether the changes in India's growth rate have come from public or the private sector and suggest that most of the growth has come from the private sector They also suggest that it is the combination of stability of public investment and economic liberalisation which has been the key to the improved growth performance.

Indian Macro-Economic Policies

Indian Macro-Economic Policies Vijay Joshi I M D Little A good deal has been written about the intricacies of Indian controls, and the consequential price distortions which result in apparently irrational production and trading incentives, and the delays and corruption they cause. But almost nothing seems to have been written to explain India's relatively untypical macro-economic policies, or to question whether they have been conducive to long-run development This paper presents a preliminary survey of Indian macro-economic policies from 1965 to 1980.

UTTAR PRADESH-Caste Conflict in Hathras

Caste Conflict in Hathras Vijay Joshi PEACE and tranquility is still to prevail in the small town of Hathras, situated close to Aligarh which was recently rocked by an unprecedented outburst of arson and killing. In markets and tone's one sees heaps of garbages lying uncleared and pools of dirty water pock-mark the streets. Policemen, in twos, stand watch over this pathetic scene.

Foreign Exchange Bottlenecks-Or Unwillingness to Save

Or Unwillingness to Save?
Vijay Joshi The concept of 'foreign exchange bottlenecks' externalises the difficulties of the developing countries. It creates the impression that growth in these countries is hindered by the lack of foreign exchange finance.

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