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Selected Policy Briefs and Op-eds

(Reverse chronological order)
Also see my commentaries on RGE Asia Monitor

2009

"Remittances and a Source of External Financing in South Asia", ISAS Insight, forthcoming 2009 (with Sasidaran Gopalan).

"India and the Global Financial Crisis: Impact and Responses", ISAS Newsletter, November 2009 (with Sasidaran Gopalan).

"Sales to Foreign Banks in Asian", CesIfo, DICE Report, 3/2009, pp.29-33 (with Sasidaran Gopalan).

"Indian Ocean Rim Association for Regional Cooperation", mimeo (with Sasidaran Gopalan).

"Globalization of Indian Businesses: The Significance of Singapore", RGE Monitor, August 1, 2009 (with  Sasidaran Gopalan).

"The Financial Crisis and the Bank Lending Channel of Monetary Policy Transmission", RGE Monitor, August 1, 2009 (with Shahidul Islam)

"Foreign Banks - What do they Bring to the Table?", Business Times (Singapore), July 17, 2009

"Booms and Busts in Private Capital Flows to Emerging Asia since the 1990s", ISAS Policy Brief, July 1, 2009.

"Foreign Bank Entry Reconsidered", ISAS Policy Brief, 15 June 2009 (with Sasidaran Gopalan).

"The Global Financial Crisis and Cross-border Mergers and Acquisitions in Developing Asia", ISAS Policy Brief, June 11, 2009 (with Rabin Hattari).

"A Currency Unit of Asia?", EUSA Review, April 2009.

"Rethinking the Washington Consensus", Business Times (Singapore), January 29, 2009.

"Restoring the Balance", Sensex (India), January-March 2009.

2008

"Asian Exchange Rate Asymmetries", Vox, November 2008.

"Asia Needs its Own Monetary Facility", Business Times (Singapore), October 29, 2008.

"Interbank Lending Holds the Key to Current Crisis", Business Times (Singapore), October 14, 2008

"US Financial Crisis: Comparisons and Lessons", Sensex (India), June-July 2008, pp.16-18.

"Questions Arising from the US Financial Crisis", Business Times (Singapore), April 1, 2008.

"Reserve Accumulation and Exchange Rate Management in India", Sensex (India), February-March 2008, pp.21-23.

"Asian Currency Unit", OpinionAsia, January 30, 2008.

"Taking Stock of Economic Cooperation in South Asia", East Asia Brief (Korea), 2008, pp.117-125 (with Sunil Rongala).

"More Asian Companies Investing Intraregionally", Business Times (Singapore), January 11, 2008 (with Rabin Hattari).

2007

"Should India Create a Sovereign Wealth Fund?", Business Standard (India), November 10, 2007.

"Infrastructure Financing in Asia", OpinionAsia,  October 17, 2007. Reprinted in Brunei Times, October 17, 2007.

"The Subprime Malaise: Implications for Asia", OpinionAsia, August 20, 2007. Reprinted in Brunei Times, August 21, 2007.

"International Capital Flows to East Asia", OpinionAsia, June 18, 2007.

"Currency Regimes in Asia", OpinionAsia, April 25, 2007.

"Have the Markets Gone Crazy? Or Have Just Regained their Sanity?", OpinionAsia, March 08, 2007.

"The Rise of China and India", The Straits Times (Singapore), January 24, 2007 (with David Kelly and Gillian Goh).

2006

"Monetary Regionalism in Asia Revisited", ESS Editorial (Mumbai), October 30, 2006.

"Made in India: The Next Big Story in the Making", East Asian Brief (Korea), pp.117-125 (with Sunil Rongala).

"The Case for an Asian Currency Unit (ACU): The Need for a Broad-Based Approach", RIS Policy Brief No.23, New Delhi, April 2006.

"A Basket Case", Wall Street Journal Asia (with Tony Cavoli). Reprinted from The Wall Street Journal Asia © 2006 Dow Jones & Company, Inc.  All rights reserved.

"Exchange Rate Pass-through Mechanism", Financial Express (South Asia), March 12, 2005 (with Amit Ghosh)

2005

"The Growing Importance of Business Process Outsourcing", ARTNET Policy Brief No.3, UNESCAP, September 23, 2005 (with Sadhana Srivastava). 

"Juggernaut China", Business Times (Singapore), September 23, 2005.

"Indonesian Rupiah on a Tightrope", Business Times, August 31, 2005 (with Sunil Rongala).

"The Dollar will be the World’s Reserve Currency", Business Times (Singapore), August 12, 2005 (with Jose Kiran).  

"Dancing with the Dragon and the Elephant: Singapore's Trade Integration with Asian Giants China and India Gathers Pace", Business Times (Singapore), August 05, 2005 (with Rahul Sen).

"Predict Value of Dollar? Just Toss a Coin", Business Times (Singapore), July 08, 2005  (with Surabhi Jain).

"Warmly Welcome India into the East Asian Summit", Business Times (Singapore), May 11, 2005 (with Sunil Rongala).

"Improving India’s Infrastructure", Business Times (Singapore), May 04, 2005 (with Amarendu Nandy).

"Asia’s Embarrassment Mountain of Riches", Business Times (Singapore), April 27, 2005.

"Growing Clout of Workers’ Remittances", Business Times (Singapore), February 15, 2005.

"Will Asia Come Together?", Business Times (Singapore), February 01 Feb 2005.

"US Deficit a Ticking Time-Bomb", Business Times (Singapore), January 28, 2005.  

 
2004
 
"Oil Shock and Cyclical Upturn in US Interest Rates: Implications for Asia", RIS Policy Brief No.14, New Delhi, No.14, September 2004.

 "Taking Stock of Asean Economic Integration", Business Times (Singapore), August 06, 2004.

 "Economic Reasons Behind Outsourcing", Business Times (Singapore), July 27, 2004. 

"Achieving Exchange Rate Flexibility in China", Business Times (Singapore), June 11, 2004.

"Merits of a Currency Basket Arrangements", Business Times (Singapore), May 4, 2004.

 "Inflation Targeting Frameworks in Asia", Business Times (Singapore), March 24, 2004.  

"Competitiveness in the Global Economy with Reference to Singapore", IPS Policy Brief, No.1, Apri1 2004. 

"For the Greater Good: Why Outsourcing by Australian Companies is in Australia's Best Interest", Business Review Weekly (Australia), 26 (6), 2004.

 "China’s Reserves Pile and Credit Boom", Business Times (Singapore), February 27, 2004.

 "The ABC of the Asian Bond Fund", Business Times (Singapore), February 02, 2004.

"Who’s Afraid of Bank Liberalization?", Business Times (Singapore), January 30, 2004.

 "The US Current Account Deficit, Exchange Rate Flexibility and Asian Reserves", RIS Policy Brief No.11, New Delhi , January 2004.

2002-2003

"Production Sharing in East Asia: Implications for India", Economic and Political Weekly, 38, September 6, 2003, pp.3770-2. Also published as an Evian Group Policy Compendium Brief, September 2003. 

"Is there a Case for an Asian Bond Fund?: It Depends!", shorter version published in Far Eastern Economic Review, March 20, 2003.   

"The Dilemma of Asia’s Massive Forex Reserves", Business Times (Singapore), December 23, 2003.
"The Limits of Asian Currency Flexibility", Business Times (Singapore), October 9, 2003.
"Examining the Links between Trade and Monetary Regionalism", Economic and Political Weekly, 37 (44-45), November 2-9, 2002, pp.4493-4.
"The Japan-Singapore "New Age" Economic Partnership Agreement", Economic and Political Weekly, 37 (26), June 29-July 5, 2002, pp.2565-6 (with Rahul Sen).
 

"International Reserve Holdings by Developing Countries: Why and How Much?", Economic and Political Weekly, 37 (20), May 18, 2002, pp.1915-7.
 

"The Tobin Tax: A Global Tax for Global Purposes?", Economic and Political Weekly, 37 (11), March 16, 2002, pp.1024-5.

 

"Capital Account Crises, Liquidity Enhancing Measures and Monetary Cooperation in East Asia", Economic and Political Weekly, 37 (8), February 23, 2002, pp.704-5.

 

"Going it Alone: Singapore’s New Commercial Trade Strategy", Economic and Political Weekly, 37 (6), February 9, 2002. Re-published in The Evian Group Trade Policy Compendium, April 2002 (with Rahul Sen). Revised version published as "Singapore and the New Regionalism: Motivation and Drawbacks", Regional Outlook: Southeast Asia 2002-2003, Singapore: Institute of Southeast Asian Studies, pp.73-5, 2002.

"India: A Decade of Economic Liberalization", The Evian Group Trade Policy Compendium, April 2002.

 "Argentina and East Asia: The Peg Does it Yet Again", Economic and Political Weekly, 37 (2), 2002. Slightly revised version published as an APEC Economies Newsletter, April 2002 and in Business Times (Singapore), January 18, 2002.
 
Pre 2002

 

"What Does the Euro Mean for Asia?", Harvard Asia Pacific Review, Winter 2000, pp.50-2.

 

"TFP and Growth: Debunking some Misconceptions", Business Times (Singapore), September 18, 1999.

 

"Have the Markets Gone Crazy?: The Brazilian and other Currency Crises of the 1990s", Policy Brief, Lowe Institute of Political Economy, Claremont, California, May 1999.

 

"Economic Globalisation: Keep an Eye on the Costs", The Straits Times (Singapore), February 28, 1999.

 

"Asia’s Revival: Japan Holds the Key", The Straits Times (Singapore), December 13, 1998 (Longer working paper version of text available here).

 

"Europe Puts Together a Monetary Punch: The EMU and its Implications for Asia", The Straits Times (Singapore), October 18, 1998.

 

"Broadening of (India's) Reforms Urged to Increase Investment", India Abroad (USA), November 28, 1997 (with Sanjay Marwah)

 
"Critical Points Missed in Debate on Total Factor Productivity’s Role", The Straits Times (Singapore), January 15, 1997.