{"product_id":"indias-agrarian-structure-economic-policies-and-sustainable-development-copy","title":"Central Banking for Emerging Market Economies","description":"\u003ch2 class=\"d_normalheder\"\u003e\u003cspan\u003eAbout the Book\u003c\/span\u003e\u003c\/h2\u003e\n\u003cdiv class=\"more\"\u003e\n\u003cp\u003e“This book is undoubtedly a work of encyclopædic proportions, which only a master of the subject will dare to undertake. We central bankers owe a deep debt of gratitude for Vasudevan's efforts. Virtually no important aspect of central banking is left out...\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e“...Vasudevan's tantalising voyage through the theory and practice of central banking is a path-breaking and salutary effort. It deserves to be a manual for the modern central banker and those outside who wish to unravel the traditional mystique of monetary or economic policies....\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e“...Vasudevan's treatise is a delightful read for all who are seriously interested in central banking. I enjoyed the intellectual prowess of the writer.”\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003e— A.S. Jayawardena\u003c\/strong\u003e\u003cbr\u003e    GOVERNOR\u003cbr\u003e    Central Bank of Sri Lanka, Colombo\u003c\/p\u003e\n\u003cspan class=\"morecontent\"\u003e\u003cspan\u003e\u003c\/span\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003ch2 class=\"d_normalheder\"\u003e\n\u003cspan\u003e\u003c\/span\u003e\u003cbr\u003e\n\u003c\/h2\u003e\n\u003ch2 class=\"d_normalheder\"\u003e\u003cspan\u003ePraise for this book\u003c\/span\u003e\u003c\/h2\u003e\n\u003cdiv\u003e\n\u003cp\u003e“Virtually all aspects of central banking are covered... so systema-tically and fairly that it may well turn out to be an indispensable guide-book for both advisers and policy-makers in monetary authorities as well as finance ministries...” \u003cbr\u003e\u003cstrong\u003e— Economic and Political Weekly \u003c\/strong\u003e\u003c\/p\u003e\n\u003c\/div\u003e\n\u003ch2 class=\"d_normalheder\"\u003e\n\u003cspan\u003e\u003c\/span\u003e\u003cbr\u003e\n\u003c\/h2\u003e\n\u003ch2 class=\"d_normalheder\"\u003e\u003cspan\u003eAbout the Author(s) \/ Editor(s)\u003c\/span\u003e\u003c\/h2\u003e\n\u003cdiv class=\"more\"\u003e\n\u003cp\u003e\u003cstrong\u003eDr A Vasudevan\u003c\/strong\u003e, currently Honorary Advisor in the Reserve Bank of India, was Executive Director of the Reserve Bank between May 1996 and end-August 2000. As the Executive Director, he was in charge of research, statistics, monetary policy, and information technology departments. He has had vast international experience — Advisor to Executive Director for India at the International Monetary Fund (IMF) between 1984 and 1989; Member of the Indian Delegations to IMF \/ World Bank and G-24 meetings between 1984-1989 and again between 1993 and 2000; represented India at the UNDP Conference on financing of sustainable development at Santiago, Chile; Central Bank Deputy at the G-20 Deputies' meetings in 1999 and 2000; and Member of the Task Force on Implementation of Standards and the Follow-up Group on the Implementation of Standards appointed by the Financial Stability Forum located at Basle.\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eAmong the several Committees on which he served, the important ones were: Expert Group on Saving and Capital Formation in India, Government of India, 1996 (Member), the Working Group on Money Supply, Reserve Bank 1998 (Vice-Chairman), and the Committee on Technology Upgradation in Banking Sector, Reserve Bank of India, 1999 (Chairman).\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003eHe has written two books : Deficit Financing, Controls, and Movement of Prices in India Since 1947 (Allied Publishers, 1967), The Strategy of Planning in India (Meenakshi Prakashan, Meerut 1970); edited two books: External Debt Management (RBI, 1999), Fifty Years of Development Economics (with D M Nachane and Ajit Karnik, Himalaya Publishing House, 1999); and over fifty articles in professional journals, both Indian and foreign. He also taught M.A. students at the University of Bombay between 1966-69 on the theories of money, and economic development and central banking.\u003c\/p\u003e\n\u003cspan class=\"morecontent\"\u003e\u003cspan\u003e\u003c\/span\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003ch2 class=\"glossymenu\"\u003eContents in Detail\u003c\/h2\u003e\n\u003cdiv class=\"glossymenu\"\u003e\n\u003cdiv class=\"submenu\"\u003e\n\u003cp\u003e\u003cem\u003eForeword\u003c\/em\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cem\u003ePreface\u003c\/em\u003e\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003eSection I    The Rationale of Central Banking\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003e1.Introduction\u003cbr\u003e        \u003c\/strong\u003e\u003cbr\u003e• Why Do We Need a Central Bank ?\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• The Recent Upsurge of Interest in Central Banking -\u003cbr\u003e   the Reasons For\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• The Context of Open\/Semi-open Economies\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Why Central Banking for Emerging Market\u003cbr\u003e   Economies ?\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• The Indian Context\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Is the Indian Context Unique?\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 1 : Central Banks by the End of the\u003cbr\u003e           Twentieth Century    \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e    \u003cbr\u003e\u003cstrong\u003eSection II   The Nuts and Bolts of Central Banking\u003cbr\u003e                  --- Reorientations\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003e2.Currency and Payment System\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e        \u003cbr\u003e• Issue and Distribution of Currency\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Printing and Issuance of Notes only\u003cbr\u003e   by the Central Banks?\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• A Service Provider to Issue and Distribute\u003cbr\u003e   Currency\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Principles of Currency Issue — Any\u003cbr\u003e   Fiduciary Rules?\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Could there be a Currency Board Instead\u003cbr\u003e   of Central Bank?\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Payment System Services\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Electronic Money\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 2 : Real Time Gross Settlement (RTGS) Systems\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e    \u003cbr\u003e\u003cstrong\u003e3.Banker to Government\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e    \u003cbr\u003e• Maintenance of Accounts\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Domestic Debt Management\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Conflict of Interests — Debt Management\u003cbr\u003e   and Monetary Policy\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Sovereign Bond Issues Abroad\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Should There Be a Separate Debt\u003cbr\u003e   Management Agency ?\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 3 : Types of Auctioning\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 4 : On the ‘Crowding Out’\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 5 : Ad hoc Treasury Bills: The Indian Experience\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e    \u003cbr\u003e\u003cstrong\u003e4.Banker to Banks    \u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e    \u003cbr\u003e• The Essential Tasks and the LoLR Function\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Bank Restructuring\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• The Areas Where Commercial Banks Could be of Help\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 6 : Theoretical Perspectives on Adverse Selection\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e        \u003cbr\u003e\u003cstrong\u003eSection III    The Shining Star of Central Banking    \u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e    \u003cbr\u003e\u003cstrong\u003e5.Monetary Policy Making in Open\/Semi\u003cbr\u003e   -open Economies\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003e        \u003c\/strong\u003e\u003cbr\u003e• Objectives of Policy\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Reconciling Dual Objectives through\u003cbr\u003e   a Policy Rule\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• The Taylor Rule\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• The Case for Rules As Against Discretion\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• The Case for Discretion\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Indicators of Policy\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Lags in Policy\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Instruments of Policy\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Transmission Mechanism of Policy\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• An Evaluation of the Channels\u003c\/p\u003e\n\u003cp\u003e   in the Context of EMEs\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Uncertainties Due to Lags\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Transparency of Policies and Practices\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 7 : Liquidity Adjustment Facility in India\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 8 : Bank Reserves, Reserve Money, Money Supply,\u003cbr\u003e          and Money Multiplier\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 9 : Payments Systems and Monetary Policy\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e    \u003cbr\u003e\u003cstrong\u003eSection IV   The New Concerns    \u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003e    \u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e6.Financial Stability    \u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e    \u003cbr\u003e• Financial Stability in the context of Financial\u003cbr\u003e   Development\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• The Early Warning Signals and Hedging\u003cbr\u003e   Mechanisms\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Liquidity Forecasts\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Prudential Regulation and Supervision\u003cbr\u003e   of Banks\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• The International Initiatives in Evolving\u003cbr\u003e    Standards and Codes\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Prudent Supervision by Central Banks and Other\u003cbr\u003e   Agencies or by a Superbody?\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• International Dimensions of Financial\u003cbr\u003e   Stability Issues\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003eBox 10 : Early Warning Signals of Crisis\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 11 : Risk Management in Banks\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 12 : The Basle Principles for Effective\u003cbr\u003e              Banking Supervision\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 13 : Key International Standards and Codes\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003eBox 14 : The Indian Initiatives in Respect of\u003cbr\u003e              International Standards and Codes    \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e    \u003cbr\u003e\u003cstrong\u003e7.Autonomy and Organizational Issues\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e    \u003cbr\u003e• Issues in Autonomy and Independence of Central Banks\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Should Decision Making Processes be Left Out of Central Banks?\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Independence, Accountability and Central Bank Governance\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e• Independence in the Context of Implementation of International\u003cbr\u003e  Standards \/ Codes    \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e    \u003cbr\u003e\u003cstrong\u003e8.Conclusions\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e    \u003cbr\u003e\u003cem\u003eAttachment :\u003c\/em\u003e    \u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e          The Asian Economic Crisis of the 1990s 237\u003c\/p\u003e\n\u003cp\u003e        \u003cbr\u003e\u003cem\u003eSelect References\u003c\/em\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003cem\u003eIndex\u003c\/em\u003e\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003ctable style=\"width: 100%; height: 78.3752px;\" width=\"100%\"\u003e\n\u003ctbody\u003e\n\u003ctr style=\"height: 19.5938px;\"\u003e\n\u003ctd style=\"width: 51.6006%; height: 19.5938px;\"\u003ePublisher\u003c\/td\u003e\n\u003ctd style=\"width: 47.9553%; height: 19.5938px;\"\u003eAF Press\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr style=\"height: 19.5938px;\"\u003e\n\u003ctd style=\"width: 51.6006%; height: 19.5938px;\"\u003ePublication Date\u003c\/td\u003e\n\u003ctd style=\"width: 47.9553%; height: 19.5938px;\"\u003e2003\u003cmeta charset=\"utf-8\"\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr style=\"height: 19.5938px;\"\u003e\n\u003ctd style=\"width: 51.6006%; height: 19.5938px;\"\u003eNumber of Pages\u003c\/td\u003e\n\u003ctd style=\"width: 47.9553%; height: 19.5938px;\"\u003e270\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr style=\"height: 19.5938px;\"\u003e\n\u003ctd style=\"width: 51.6006%; height: 19.5938px;\"\u003eISBN\u003c\/td\u003e\n\u003ctd style=\"width: 47.9553%; height: 19.5938px;\"\u003e\n\u003cmeta charset=\"utf-8\"\u003e \u003cmeta charset=\"utf-8\"\u003e \u003cspan\u003e8171882811\u003c\/span\u003e\u003cbr\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e","brand":"Vijay Shankar Vyas","offers":[{"title":"Hardcover \/ ENG- English \/ Banking","offer_id":51399465926977,"sku":null,"price":995.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0938\/9067\/5009\/files\/8171882811-web-305-Central.jpg?v=1771410132","url":"https:\/\/www.academicfoundation.com\/products\/indias-agrarian-structure-economic-policies-and-sustainable-development-copy","provider":"Academic Foundation | AF Press","version":"1.0","type":"link"}