Financial and Fiscal Policies: Crises and New Realities

Y. V. Reddy, Narayan Valluri, Partha Ray

Editore: OUP India
Anno: 2014
Rilegatura: Hardback
Pagine: 348 p.
Testo in English
Dimensioni: 222 x 148 mm
Peso: 562 gr.
  • EAN: 9780199452651
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The world economy has been in a crisis mould since 2007. What started as a sub-prime crisis in the residential mortgage market in the US, resulted in a global financial crisis, uneven recovery and persisting uncertainties with new challenges to several areas of public policy. The eruption of the Sovereign debt crisis in some countries in the euro area has led to a setback to the incipient recovery. The emerging markets which appeared somewhat resilient in the initial stage, have since been subjected to uncertainties. In this backdrop, this book addresses evolving complex interlinkage between monetary, financial, and fiscal policies across the globe. The book is organized into three distinct themes. First, the impact of the crisis on fiscal positions and fiscal implications of the measures undertaken to deal with the crisis on the global economy are narrated. Second, cross-country experiences with special emphasis on the euro area economies as well as India are explored. Finally, issues relating to the interaction between monetary, fiscal and financial policies are analysed, with emphasis on public debt management, sovereign debt restructuring, taxation and regulation of the financial sector and sub-national finance. The concluding chapter presents the emerging challenges.