Archive for June 6th, 2014

Emergence of Indigenous industrialists in Calcutta, Bombay, and Ahmedabad, 1850–1947

June 6, 2014

A fascinating paper (click on pdf for a free copy) by Prof. Gijsbert Oonk of Erasmus Univ.

He looks at how India’s industrialists developed in the three major cities (then). The author explores the role played by British in development or non-development of industries in these three centres:

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Fixing city finances and governance post Detroit…

June 6, 2014

Chicago Fed conducted a forum to discuss several issues post Detroit bankruptcy. The main q was what is the way forward post Detroit? There are some interesting presentations particularly this one which shows how Washington DC managed to resolve its city crisis. This one by Robert Inman of Wharton also sets the entire agenda for cities..

The discussions are explained in this short note. The key points were make sure there is accountability, to have a fiscal watchdog even at city level, making sure basic public services are not disrupted even during crisis, pricing these services properly and so on..

Our cities are far off from this kind of discussion. But the idea of ensuring basic governance is valid wherever you are on the graph of devleopment

Capital controls in the 21st century..

June 6, 2014

Barry Eichengreen and Andrew Rose of UCB revisit the idea of capital controls (detailed pdf here) from a defacto angle i.e. how countries actually go about implementing them.

The broad idea is countries avoid capital controls as they may send a bad signal. The first line of defence is standard macro policy:

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