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Zusatztext "Dr. Nayak undertookthe gargantuan task of describing his country's development in the broad context of globalization. From his long-time seat at the center of Indian investing!hehasa unique perspective. He persuasively argues that the caution of India'sReserve Bankpaid off in avoiding the blunt effect of the Asian crisis by not following the then popular recipe bookand holding offon Rupee convertibility until its capital account was less vulnerable. With the recent growthof India's reserves to unprecedented levels! he nowbelieves that the reward for past caution should be the use of some of these reserves on critical infrastructure needs."Antoine W. van AgtmaelPresident and Chief Investment Officer! Emerging Markets Management L.L.C.Past board member of the India Growth FundAuthor of The Emerging Markets Century and Emerging Securities Markets"Satyendra Nayak's book provides an outstanding analysis of the evolutionof theinternational monetary system and a penetrating evaluation ofIndia's financialperformance and economic prospects in the rapidly globalizing world of today. Amust reading for anyone interested in these important topics."Dr. Dominick SalvatoreDistinguished Professor of Economics and Director of the Ph.D. ProgramFordham University! New York"Satyendra Nayak's impressive analysis of India's step-by-step approach to capital-account liberalization is important reading for anyone interested in the essentials of financial globalization. He skillfully contrasts the pragmatic Indian approach to the gung-ho financial capitalism that produced the Asian financial crisis of 1997! and offers recommendations for the future."Dr. Alfred E. EckesEditor! Global Economy Journal. Ohio Eminent Research Scholar and Professor in Contemporary History Ohio! University! Athens! Ohio "India's economy! long a slumbering giant! has benefited greatly from a successful policy of gradualism in reform! which has averted crises while promoting increasingly rapid growth. Full convertibility! Dr. Nayak contends! would be the last mile on the road of economic liberalization. This book should be of interest to anyone interested in the future of a country that is destined to be a major force in the world economy of the twenty-first century."Dr Benjamin Jerry CohenLouis G. Lancaster Professor of International Political Economy! Department of Political ScienceUniversity of California! Santa Barbara Informationen zum Autor Satyendra S. Nayak is an independent advisor and consultant. His experience stems from 27 years of working in Commercial Banking and Mutual Fund at the Bank of Baroda and Unit Trust in India, as well as years of experience in operation, international finance, project financing, foreign exchange operations, mutual fund management, equity and debt investments and portfolio management. He received his PhD in International Economics and Finance from the University of Bombay, India. He teaches at ICFAI Business School in Mumbai in the Centre for Advanced Banking and Finance Studies. Klappentext This book examines the impact of globalization on the Indian economy, exploring the trade, investment and financial aspects of globalization, and also considering its implications for the balance of payments and currency exchange rate. The first part of the book deals with the evolution of the philosophy of globalization and its impact on exchange rates, global liquidity, currency markets, and global trade and payments. It highlights the catalytic role played by the US in driving the globalization process, and provides detailed analysis of the evolution of the international monetary system to illustrate current processes of globalization. Furthermore, a critical discussion of the Asian financial crisis of 1997 is presented as well as the lessons that have emerged from the crisis. The Indian economic experience and its own policy of dealing with globalization is the focus of ...
