Summary |
Financial turmoil which surface in August 2007 in the US financial system-as a result of defaults of sub-prime mortgage loans- has blown into an unprecedented financial crisis engulfing international money, credit, equity and foreign exchange markets. It was preceded by an extended phase of buoyant world economy characterized by output expansion, burgeoning world trade, favourable financial and economic conditions, liquidity overhang and low interest rates. Economists termed it as a period of Great Moderation.
This book is all about current economic crisis, its origin, causes, impact, world response, world economic outlook and lessons to be learnt. The focus of the work, however, is on the impact of global economic crisis on India and the policy response by the Government of India, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI) and other agencies. Being topical, the work will interest a cross-section of readers including teachers and students of economics, commerce, management and also political leaders, analysts, academicians and laypersons who are mystified about a subject unrelated yet close to them
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