Table of contents (33 chapters)

Indian Economics: Tragedy of a Forsaken Legacy
Dilip M. Nachane
Pages 1-17
Macroeconomics
Front Matter
Pages 19-19

A New Keynesian AD-AS Model for India, Incorporating the Effect of Covid-19 Pandemic
Naoyuki Yoshino, K. U. Gopakumar, Rajendra N. Paramanik, Farhad Taghizadeh-Hesary, Ma. Laarni Revilla, K. E. Seetha Ram
Pages 21-41
The Global Financial Crisis and Discontent in Macroeconomics: A Revisit by a Pedestrian Keynesian
D. Sambandhan
Pages 43-54
Fiscal Stimulus and the Ghost of Keynes: An Evolutionary Chronicle
Partha Ray, Parthapratim Pal
Pages 55-72
Assessing the Credibility of Inflation-Targeting Central Banks
Motilal Bicchal
Pages 73-96
Monetary Policy Accommodation and Banking Risk: An Indian Perspective
Amaresh Samantaraya, Mausumi Mohanty
Pages 97-115
Understanding the Performance of Core Inflation in India
Naresh Kumar Sharma, Priyanka Sahu
Pages 117-144
Do Absorptive Capacities Matter for FPI-Growth Nexus? Evidence from Cross-Country Analysis
Pravakar Sahoo, Ranjan Kumar Dash, Yoon Jung Choi
Pages 145-164
Do Institutional Quality and Trade Openness Influence Economic Growth? An Empirical Evidence from India
Arun Kumar Giri, Geetilaxmi Mohapatra
Pages 165-182
Corruption and Economic Growth: Empirical Evidence from BRICS Nations
Ashmita Kesar, Pabitra Kumar Jena
Pages 183-202
Changing Contours of Union–State Relations
M. Govinda Rao
Pages 203-216
Disinvestment and Privatization of Central Public Sector Enterprises in India: Need and Progress
Archana R. Dholakia, Ravindra H. Dholakia
Pages 217-234
Does FDI Induce Knowledge Spillovers? Evidence from Indian Pharmaceutical Industry
Ramesh Jangili, N. R. V. V. M. K. Rajendra Kumar, N. Srinivasa Rao
Pages 235-251
India’s Service Sector Exports: Trends, Challenges and Policy Road Map
Geethanjali Nataraj, Ashwani Bishnoi
Pages 253-282
Revisiting Literature on Trade Facilitation (TF) in the Context of COVID-19 and South Asia
Mamta Kumari, Nalin Bharti
Pages 283-292
Trade, Unemployment and Inequality in Product Variety Models—An Analytical Survey
Sugata Marjit, Meghna Dutta
Pages 293-305
Trade Balance and Need of National Reserves in Face with Aging Population
Naoyuki Yoshino, Trang T. Le
Pages 307-326
An Assessment of India’s Current Account Sustainability and Adjustment: A Nonlinear Framework
Archana Kulkarni
Pages 327-345

This festschrift volume presents discussions on contemporary issues in international economics and finance. It is aimed to serve as a reference material for researchers. There are two broad sections of the book -- International Macroeconomics and International Finance. The chapters in the International Macroeconomics section discuss critical topics like aggregate level macro model for India with a new Keynesian perspective, balance of payments, service sector exports, foreign exchange constraints for import demands, foreign direct investment and knowledge spill over, the relationship between forex rate fluctuation and investment, Institutional quality-trade openness-economic growth nexus, currency crises and debt-deficit relationship in the BRICS countries in the backdrop of COVID-19. Apart from these, various analytical issues related to macroeconomic policies are also covered in this section. The topics discussed includes the nature of forex market interventions, the issue of disinvestment and privatization, changing nature of fiscal policy, the inflation-growth nexus, macroeconomic simulation modelling, measuring core inflation, central bank credibility, monetary policy, inflation targeting, Infrastructure, trade, unemployment and inequality nexus. In the International Finance section, topics such as COVID-19 induced financial crisis, commodity futures volatility, stock market connectivity, volatility persistence, determinants of sovereign bond yields, FII and stock market volatility, cryptocurrency price formation, financialization of Indian commodity market, and a Keynesian view of the financial crisis are discussed. Overall, thirty two chapters in the volume discuss cutting edge research in the areas of the two sections.