The Global Economic Crisis through an Indian Looking Glass

The Global Economic Crisis through an Indian Looking Glass offers an Indian perspective on the global financial meltdown of 2008-09, capturing specific aspects of both the onset of the crisis and the subsequent policy responses undertaken in the fightback. Interwoven into the narrative is an attempt to measure the size of the policy effort and the impact thereof on global market conditions and key macroeconomic variables. The book synthesizes four facets of the crisis: (i) its genesis, (ii) its impact on the world in general and on India in particular, (iii) the response, and (iv) the aftermath. The authors caution that the global economy could continue to deteriorate for some time unless policymakers act in coordination to restore and sustain financial stability and economic activity. They emphasize that governments across the world should be united in implementing the specific measures that were important but were not taken up in time. This book is a powerful testament to interconnectedness in today's global economy.