China’s Economic Model Transition: A Conversation with Michael Pettis
This conversation occurred on 21 August 2023 as the 17th edition of the Axis Bank Treasury Market Talks.
Skills, the Secret Sauce
By Neelkanth Mishra, Last Updated: Sep 06, 2023, 05:39 AM IST This was published in the Economic Times on September 6, 2023 (link) India’s business services exports have grown so rapidly of late that their incremental impact is now nearly as large as that of IT Services exports. While their base is smaller, they grew … Read more
Will the bamboo bend?
Unlike many times earlier, the Communist leadership may not have a policy fix for China’s economic troubles this time. This has serious repercussions for the country and the world. Neelkanth Mishra | 16 August 2023 This was published in the Times of India on 16 August 2023 (link). This is not the first time that … Read more
The policy inversion
With global economic policy preferences being the opposite of those seen after the 2008-09 crisis, so should be the implicationsNeelkanth Mishra | Last Updated : Jul 13 2023 | 9:33 PM IST This appeared in the Business Standard on July 14, 2023 (link). Despite headline inflation having moderated meaningfully from the peak, bond yields in … Read more
India’s quantitative tightening
The persistent gap between credit and deposit growth has perplexed many. Could it be due to shortfalls in money injection by the RBI?Neelkanth Mishra | Jun 05 2023 | 8:54 PM IST This appeared in the Business Standard on 6 June 2023 (link). Over the past year, deposit growth in the Indian banking system has … Read more
The tap still left open
Continuing fiscal laxity in the US means monetary policy must do more of the inflation fighting, increasing risks of financial accidents Neelkanth Mishra | Last Updated : May 08 2023 | 10:16 PM IST This appeared in the Business Standard on 9 May 2023 (link). Volatility in stock prices of US banks has persisted, even … Read more
A potent channel
Recent evidence of a sharp slowdown in house construction in major markets poses downside risks to global growthNeelkanth Mishra | Apr 10 2023 | 10:31 PM IST This appeared in the Business Standard on April 11, 2023 (link). An important and potent channel of monetary policy transmission is the housing market. Weakness in housing demand … Read more