Archive for April 19th, 2012

Neither Washington nor Beijing Consensus, need African models to fit realities and cultures

April 19, 2012

A nice speech by  Sanusi Lamido Sanusi, Governor of the Central Bank of Nigeria.

He looks at the two broad frameworks of development – Washington and Beijing (fashion is better suited than frameworks actually). And then says how both are inadequate to sort Africa. What is needed is a seperate consensus and a model which fits into African culture and reality. Whereas the two fashionable ideas moreso Washington Consensus ask countries to change as per the model:

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Enabling Affordable Housing for All in India – Issues & Challenges

April 19, 2012

A nice speech by RBI Dep Gov HR Khan on the topic.

He covers a fair bit of data and connects the dots on an area which is extremely important but much is unknown.  We hardly have any reliable data to track developments in the housing sector.

But then unless someone talks officially about the huge shadow/black economy in housing, we are just focusing on one part of the problem. I mean it is so ridiculous that even if someone has the money he cannot really buy a house in most parts of the country without paying black money. Our government keeps talking about making efforts to brings all black money invested abroad. Why not do something to address a problem which is so rampant in your own shores?

 

 

Using accounting devices to hide fiscal deficits – a framework

April 19, 2012

Timothy Irwin of IMF has this excellent readable paper on fiscal math.  Both fiscal and monetary math and accounting is challenging to say the least.

Irwin says using these accounting devices, govt hides figures and creates fiscal illusion that all is well:

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