Anthem Press India and the Global Financial Crisis: Managing Money and Finance (Anthem South Asian Studies)

Product Description ‘India and the Global Financial Crisis’ offers a collection of essays based on the speeches delivered by Reddy during his tenure as Governor of the Reserve Bank of India between September 2003 and September 2008, a period of rapid growth for the Indian economy as well as extraordinary challenges for the conduct of monetary policy. The volume describes India's financial situation in light of the perspectives and policies of the Reserve Bank of India, as well as its response to the financial crises in 2007. Review 'If America had a central bank chief like Y.  V. Reddy, the US economy would not have been in such a mess.' —Joseph E. Stiglitz, Professor of Economics at Columbia University and Nobel Laureate, to NDTV 'Of all the central bankers I have encountered in recent years...Reddy of the RBI stands out for his perceptive warnings about the mounting perils in unbalanced asset markets and the real economy.' —Stephen Roach, Chairman of Morgan Stanley Asia, in 'Bloomberg Markets' 'To our knowledge [Dr Reddy] was the only governer of a major central bank who (a) paid any attention to money and credit growth; (b) understood that asset prices play a signalling role in the economy; and (c) applied differential risk-weighting to potentially troublesome sectors well in advance of serious overheating.' —Jim Walker, Founder and Managing Director of Asianomics Limited, in 'Asianomics' 'There is no doubt in my mind that had it not been for the deft handling by Reddy, India could have been a mini version of Iceland, with the economy buckling under overseas borrowing by Indian companies.' —Rajeev Malik, Economist at Macquarie Capital Securities, in 'Financial Times' Review 'Dr Reddy was called the Guru by all of us on the board of the RBI because of his extraordinary ability to explain complex macroeconomic concepts in simple words.' —N.R. Narayana Murthy, Chairman of the Board and Chief Mentor, Infosys Technologies Limited 'Y. V. Reddy has brilliantly managed to balance growth imperatives with stability. This he has done using his enormous technical expertise in the areas of monetary policy and applying it judiciously to a growth environment as seen in India. His approach and policies have stood the test, as the world has seen the financial crisis and its consequences unfold over the last one year.' —K.V. Kamath, Chairman of the Board of ICICI Bank 'At a time when the financial crisis rocked the global economy and banks around the world have seen their capital bases melt away, Indian banks and other financial institutions remain in excellent health. The credit for this largely goes to the foresight of one man: Dr Yaga Venugopal Reddy.' —Arvind Panagariya, Professor of Economics, Columbia University Book Description The collected essays of Yaga Venugopal Reddy, former Governor of the Reserve Bank of India. About the Author Y. V. Reddy served as Governor of the Reserve Bank of India from 2003 to 2008. Prior to being the Governor, he was Executive Director for India, Sri Lanka, Bangladesh and Bhutan at the International Monetary Fund. He is currently Emeritus Professor at the University of Hyderabad.