India and Global Financial Crisis- Evaluation of Policy Responses and Lessons

I and Nitish (a close friend and batch mate at SDMIMD) are currently working on a student paper to be presented at Institute of Management, Nirma University during Nirma International Conference on Management (NICOM 2011) at Ahmedabad.Here's the abstract of that paper:

The US and other major European economies like the UK are gradually emerging out of the recession, although at a snail’s pace, despite some critics predicting a double-dip recession in the near future. It would take a few more years to completely regain the growth momentum. India has by now emerged from the global financial crisis and is on its way to report strong economic growth over the next fiscal. The greatest economic calamity since the Great Depression of the 1930s has thrown up several issues like regulatory oversight, fiscal misprudence, unbridled corporate greed etc. along with unforgettable lessons for policymakers, regulators and enterprises worldwide .

In this paper, we seek to evaluate the various fiscal and monetary policy responses to the financial crisis by the major global economies, right from the unfolding of the crisis till date, with a special emphasis on India.The varying impact of these responses on inflation, unemployment ,fiscal health and economic growth of India has been examined. Protectionist measures in the developed economies have been analysed. The key lessons to be learnt from the crisis have been dealt with. The conclusion and our inferences have been included at the end.

I will post the entire paper for those who want to read it after we finish it.

Cheers!!