-Dr C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister of India
"For anyone interested in learning how the recent global financial crisis came about, how it impacted the world and India, and how the latter responded to the challenge posed by it, this book offers a clear and comprehensive one-stop analysis."
-Arvind Panagariya, Columbia University
"A large body of literature is already pouring in on the genesis, manifestation, and outcome of the worldwide meltdown, but few have taken the broad international view and combined it with an in-depth study of a large emerging economy. The authors of the book have done it, and done it successfully."
-V. S. Vyas, Member, Economic Advisory Council to the Prime Minister of India
The Global Economic Crisis through an Indian Looking Glass is about the onset and unfolding of the global financial crisis and the great recession of 2008–2009, tracing its origin and causes, dimensions and impact, policy responses, lessons and the way forward from an Indian perspective.
A significant feature of the book is the analysis of the four facets of the crisis: (i) genesis, (ii) impact on the world and India, (iii) the response, and (iv) the aftermath. The objective is to capture the specific aspects of the onset of the crisis and the policy responses, with particular emphasis on the sequencing thereof.
The authors underscore the gaps in the international financial architecture that allow the recurrence of crises with global ramifications and emphasize the importance of cooperation, coordination and collective action to secure and sustain macroeconomic and financial stability across the globe.
The book is a testament to the powerful values of global interconnectedness.