Financial and Fiscal Policies

Y. V. Reddy served as the Chairman of the Fourteenth Finance Commission of India. During September 2003–September 2008, he was the Governor of the Reserve Bank of India (RBI). Prior to being appointed as Governor, RBI, he served as Executive Director, International Monetary Fund; Secretary, Government of India; and Principal Secretary, Government of Andhra Pradesh. He has been a member of the United Nation's Commission of Experts on Reforms of the International Monetary and Financial System. He was also on the Advisory Board of the Institute for New Economic Thinking (INET). On 17 July 2008, he was made an Honorary Fellow of the London School of Economics. In 2010, he was awarded India's second-highest civilian honour, the Padma Vibhushan.Partha Ray is currently Director, National Institute of Bank Management, Pune. Previously, he was Professor of Economics at the Indian Institute of Management Calcutta. During 2007–11, he was Advisor to the Executive Director (India) at the International Monetary Fund, Washington, D.C. He worked in the specialist cadre of economists in the Reserve Bank of India's Economic Research Department during 1989–2006 in various capacities; his last held position was Director, Department of Economic and Policy Research, RBI. During 1985–9, he taught economics in Kolkata. Educated in Kolkata, Mumbai, and Oxford, he has written extensively on issues related to monetary policy, banking, and finance.Pinaki Chakraborty is Vice-Chairman, Institute of Development Studies, Jaipur, and a Visiting Distinguished Professor at the National Institute of Public Finance and Policy (NIPFP), New Delhi. Prior to this, he was Director and Professor, NIPFP, New Delhi, and Economic Advisor to the Fourteenth Finance Commission of India.

Examines linkages between money, finance, and fiscal issues, cross-country experiences of contemporary financial crises, and a number of emerging policy challenges. Provides a broad overview of the causes of contemporary financial crises and their global fiscal impact.