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Global Crisis Recession And Uneven Recovery
The worst of the economic crisis has passed and the global financial system is picking through the wreckage of its reckless ambition. Recovery has started at different paces in different places, but it promises everywhere to be prolonged and uneven. What has the world learnt from the most severe financial setback it has suffered in three generations? What must it unlearn to ensure that it does not rush into an encore? And what must India do to work towards ending the systemic distortions in global finance and crippling economic inequities at home? As Governor of the Reserve Bank of India between 2003 and 2008, Dr Y.V. Reddy stayed the course of financial pragmatism in times of relentless deregulation. Through visionary leadership, finely calibrated financial management and a prescient reading of global economic indicators, he ensured India largely escaped the fate that befell the worst affected of the world's economies. In 2009, Dr Reddy told the story of, an account of his five years at the helm of the RBI at a time of multiple challenges for the Indian economy. This new book is a sequel to last year's bestselling work. It provides a thinker and experienced policymaker's understanding of the genesis, anatomy and impact of the financial crisis and of the lessons it offered. It contains perspective and analysis that Dr Reddy has not published before, presented in lucid style and non-technical language. This is a looking-ahead book for India and the world, from an oracle who has already demonstrated how clearly he sees the future.
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India and the Global Financial Crisis
This collection of essays provides insights into the making of public policies across a spectrum of areas between the years 2003 and 2008, a period of rapid growth of the Indian Economy as well as extraordinary challenges for the conduct of monetary policy. It was during this period that Dr Y.V. Reddy was the Governor of the Reserve Bank of India. He has earned universal acclaim for managing, as Governor of RBI, India's calibrated financial integration with the global economy.Ever since the financial crisis erupted in the USA in 2007 and spread to the rest of the world, there has been an interest in India's management of a financial sector that has facilitated growth and has yet maintained stability.What contributed to this situation? What was the RBI