Indian Economic Story Post 1990-91 And the Three Twins: A Comparative Analysis
Keywords:
GDP Growth, Twin deficit, Twin Balance sheet crisis, Twin economic ShocksAbstract
The Post Independent India has largely experienced negative GDP growth in 1958, 1966, 1973, 1980’s, 2020-21. The post crisis years after 2008-09 though did not experience negative GDP growth but were very challenging. The years 1991, 2014-15 and 2020-21 have experienced twin deficit crisis, twin balance sheet syndrome and twin economic shocks (Demand & supply) respectively. The author has considered these years as three twins. The Researcher has tried to study the different macroeconomic variables to understand the nature and characteristics of these three twins, their commonality and differences. The researcher has considered Macroeconomic Stability Index to have a comparative analysis of three phases experiencing these three twins.
Downloads
References
Virmani Arvind (2005), India’s Economic Growth History: Fluctuations, Trends, Break Points and Phases, ICRIER
Panagariya Arvind (2004), India in the 1980s and 1990s: A triumph of Reforms, IMF working paper
Pudari Prabhakar (2017), An Analytical study of the festering twin balance sheet problem and its impact, Professional Panorma: An international journal of applied management & technology, Vol.IV, Issue II, July-Dec 2017.
Nanwani B H, Mase D Yogesh (2019-20), stressed assets in Indian Scheduled Commercial Banks, Pranjan, Vol. XLVIII, No.4, 2019-20, NIBM, Pune.
Subramanian Arvind, Felman Josh (2019), India’s Great Slowdown: What happened? What’s the way out?, CID faculty working paper no. 369, Harvard University.
Cerra Valerie, Saxena Sweta (2002), What caused the currency crisis in India, IMF Staff papers, Vol.49, No.3, 2002, IMF.
Kolte Ashutosh, Simonneti Biagio (2018), A contrary view on Indian Economic Crisis of 1991, Vol.6, Issue 1, IJCRT 2018.
Economic Survey 2016-17, MOF, GOI: The festering twin balance sheet problem
Economic Survey 2020-21, MOF, GOI: Demand side and Supply side shocks
Mehrotra Santosh, Indian and the Global Economic crisis, Institute of Applied Manpower Research, Planning Commission, India
Mustapha Kamel Nabli (2004): Reforms and Growth in MENA Countries: New Empirical Evidence, World Bank.
Reserve Bank of India: Financial Stability Report 2013.
Kumar Utsav, Subramanian Arvind (2011): India’s Growth in the 2000s: Four facts, working paper, 11-17, Petersan Institute of International Economics.
Anderson, Williams, Sweeney, Statistics for Business and Economics, © 2011, 2008 South-Western, Cengage Learning.
Downloads
Published
How to Cite
Issue
Section
License
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.
