C. P. Chandrasekhar is currently Professor at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi. He has published widely in academic journals and is the co-author of Crisis as Conquest: Learning from East Asia (Orient Longman), The Market that Failed: Neo-Liberal Economic Reforms in India (Leftword Books) and Promoting ICT for Human Development: India (Elsevier). He is a regular columnist for Frontline (titled Economic Perspectives), Business Line (titled Macroscan) and the Web site of The Hindu (titled Economy Watch).

Jayati Ghosh is Professor of Economics at Jawaharlal Nehru University, New Delhi. She has authored and co-edited several books and more than 120 scholarly articles. She is Executive Secretary of International Development Economics Associates (IDEAS - and Trustee of Economic Research Foundation ( She was the Chairperson, Andhra Pradesh Commission on Farmers’ Welfare in 2004 and Member, National Knowledge Commission, 2004-09. She has consulted for many international organisations, including UNDP, UNCTAD, UN-DESA and ILO. She was awarded the NordSud Prize for Social Sciences 2010 of the Fondazione Pescarabruzzo, Italy, and the ILO Decent Work Research Prize for 2010.

What Moody’s failed to notice

The ratings agency seems to have overlooked an important source of vulnerability while being positive on India — the possible reversal of foreign inflows »

There’s no comparison, statistically speaking

India may soon overtake China in GDP growth rate, but China will continue to account for a greater share of global GDP »

Bank privatisation by the backdoor?

The push to recapitalise public sector banks by raising capital through equity issues, saying Basel III requirements make that unavoidable, is a move in that direction »

The ever expanding debt bubbles of China and India

The rapid expansion of debt in many Asian economies eerily resembles the debt boom in developed economies that eventually came unstuck during the global financial crisis »

Finance and economic growth in Malaysia

Like several other Southeast Asian economies, Malaysian economic growth shows the adverse implications of relying on deregulated finance to deliver more investment »

Oil: The big 100 per cent story

In a puzzling development, some financial markets registered a decline in the wake of the recent dramatic fall in oil prices. Is the decline not all good news? »

Who’s really paying for oil?

As the government raises excise duties on petroleum products yet again, some of the poorest consumers in the world end up paying the price »

What fiscal failure is all about

While struggling to meet self-imposed fiscal deficit targets, the government has been unable to arrest slippages on the tax front »

The ‘missing middle’ in Indian industry

Pundits and policymakers should stop making the strawman argument. Official data reveals Indian industry has a thriving pool of mid-sized companies with impressive output »

Asia is vulnerable to financial instability

Asian stock markets may have recovered smartly from the collapse induced by the “taper tantrum”, but countries’ exposure to overseas debt has been overlooked »
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