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Le défi de la mondialisation : quelques réflexions du point de vue de la banque centrale indienne

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  • Duvvuri Subbarao

Abstract

This paper draws a picture of the Indian vision of globalization, along with the advantages and risks for Indian economy and society. From a long term perspective, current globalization does not appear as either unique or irreversible. Political considerations could call it into question if the advantages obtained in some countries do not compensate for the harmful social consequences, such as the abolition of jobs in developed countries. Over and above the exchange of non-financial goods and services, the question of the risks engendered by financial liberalization is also posed. The latter can contribute a lot to an economy such as India?s, but this implies the implementation of a complex monetary policy by the Reserve Bank of India if rapid growth, beneficial for society as a whole, is to be achieved. Classification JEL: E58, F20, F43, O53.

Suggested Citation

  • Duvvuri Subbarao, 2012. "Le défi de la mondialisation : quelques réflexions du point de vue de la banque centrale indienne," Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 249-264.
    • Handle: RePEc:cai:refaef:ecofi_107_0249
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    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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