• ISBN13: 9780199452651
• Binding: Hardcover
• Subject: Economics
• Publisher: Oxford UP
• Publisher Imprint: Oxford UP
• Publication Date: June 15, 2014
• Pages: 368
• Original Price: INR 995.0
• Language: English
• Edition: N/A
• Item Weight: 520 grams

What started as subprime mortgage crisis in the US in 2007 snowballed into global recession soon after. Still running its course, it has transformed itself into an economic crisis, if not a socio-political one. This book looks at the impact of the global crisis on fiscal positions and fiscal implications of the measures undertaken to deal with the situation. The authors explore cross-country experiences with special focus on the euro area economies and India. Analysing the issues relating to the interaction between monetary, fiscal and financial policies, with emphasis on public debt management, sovereign debt restructuring, taxation and regulation of the financial sector and sub-national finance, they present the emerging challenges. Recognizing the inter-linkages between monetary, financial and fiscal policies against the backof the global crisis, this book offers an understanding of possible institutional arrangements for the future.Key Features:The book addresses evolving complex interlinkage between monetary, financial and fiscal policies across the globe. The book is organized into three distinct themes - (1) the impact of the crisis on fiscal positions and fiscal implications of the measures undertaken (2) cross-country experiences (3) issues relating to the interaction between monetary, fiscal and financial policies. The book also addresses the emerging challenges to monetary, financial and fiscal policies. Policy challenges are analysed based on select country experiences (especially, euro area economies and India).Table of Contents:Acknowledgements Preface Introduction Background Impact of the Crisis on Fiscal Positions Response to the Crisis and Fiscal Implications The Crises and the Global Economy Euro Area Economies Euro Area Crisis and Contagion India Public Debt, National Income and Growth Crisis and Public Debt Management Fiscal Implications and Central Banking Sovereign Debt Restructuring Taxation and Regulation of Financial Sector Sub National Finance and Crisis Emerging Challenges References

Y.V. Reddy is Chairman, Fourteenth Finance Commission, Government of India. Narayan Valluri is Adviser, Administrative Staff College of India (ASCI) Hyderabad. Partha Ray is Professor (Economics Group), Indian Institute of Management Calcutta.