Archive for February 24th, 2014

P Chidambaram’s last budget pays tribute to the rating agencies…

February 24, 2014

EPW edit in the latest edition says the Interm budget 2014-15 was a tribute to the rating agencies.  Well the previous budget was a tribute to the rating agencies as well. In his book Lexus and Olive Tree Thomas Friedman starts it by showing the importance of rating agencies. The book was written way before the crisis but the power of CRAs continues.

What has mattered in the last two years is achievement of the fiscal deficit target and not the mechanics of how it is achieved. Just do it the rating agencies seem to say and Finmin seems to oblige.

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Lessons for Asia from Europe’s History with Banking Integration…

February 24, 2014

One would imagine that post EZ crisis, experts would stop talking about economic/financial integration of neighboring countries. But this is not the case.

Douglas Elliot of Brookings in this paper looks at lessons for Asia from Europe’s banking integration history:

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Why (Some) Downtowns Are Back…

February 24, 2014

A nice essay by Prof. Mario Polèse (of Montreal’s Institut National de la Recherche Scientifique).

The author  points how downtowns have again sprung back in action after losing glory to suburbs in recent years..

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