85
Views
16
CrossRef citations to date
0
Altmetric
Original Articles

Policy instruments to avoid output collapse: an optimal control model for India

Pages 761-776 | Published online: 15 Aug 2006

References

  • Aghion , P , Bacchetta , P and Banerjee , A . 2001 . Currency crises and monetary policy in an economy with credit constraints . European Economic Review , 45 : 1121 – 50 .
  • Basu , S . 2002 . Financial fragility: Is it rooted in the development process? – An examination with special reference to the South Korean experience . International Papers in Political Economy , 9 : 1 – 50 .
  • Bernanke , BS and Gertler , M . 1995 . Inside the black box: the credit channel of monetary policy transmission . The Journal of Economic Perspectives , 9 : 27 – 48 .
  • Britton , A . 1989 . Policymaking with Macroeconomic Models , Aldershot : Gower .
  • Calvo , GA . 2000 . “ Balance of payments crises in emerging markets: large capital inflows and sovereign governments ” . In Currency Crises , Edited by: Krugman , P . Chicago : University of Chicago Press .
  • Cerra , V and Saxena , S. C . 2002 . What caused the 1991 currency crisis in India? . IMF Staff Papers , 49 : 395 – 425 .
  • Chand , S and Sen , K . 2002 . Trade liberalization and productivity growth: evidence from Indian manufacturing . Review of Development Economics , 6 : 120 – 32 .
  • Chow , GC . 1975 . Analysis and Control of Dynamic Systems , New York : Wiley .
  • Church , KB , Mitchell , P. R , Smith , P. N and Wallis , K. F . 1996 . Targeting inflation: comparative control exercises on models of the UK economy . Economic Modelling , 13 : 169 – 84 .
  • Dornbusch , R . 1990 . “ Policies to move from stabilization to growth ” . In Proceedings of the World Bank Annual Conference on Development Economics , Washington, DC : World Bank .
  • Easterly , W . 1999 . The ghost of financing gap: testing the growth model used in the international financial institutions . Journal of Development Economics , 60 : 423 – 38 .
  • Greenaway , D , Morgan , W and Wright , P . 2002 . Trade liberalization and growth in developing countries . Journal of Development Economics , 67 : 229 – 44 .
  • Hall , SG and Stephenson , M. J . 1991 . “ Optimal control of stochastic non-linear models ” . In Dynamic Modelling and Control of National Economies , Edited by: Christodoulakis , N . Oxford : Pergamon Press .
  • Holly , S , Rustem , B and Zarrop , MB . 1979 . Optimal Control for Econometric Models , London : Macmillan .
  • International Monetary Fund . September 1987 . “ Theoretical aspects of the design of fund-supported adjustment programs ” . In Occasional Paper , DC : IMF Washington .
  • Kendrick , DA . 1981 . Stochastic Control for Economic Models , New York : McGraw-Hill .
  • Khan , MS and Kumar , M. S . 1997 . Public and private investment and the growth process in developing countries . Oxford Bulletin of Economics and Statistics , 59 : 69 – 88 .
  • Khan , MS , Montiel , P and Haque , N. U . 1990 . Adjustment with growth: relating the analytical approaches of the IMF and the World Bank . Journal of Development Economics , 32 : 155 – 79 .
  • Krishnamurty , K and Pandit , V . 1997 . Exchange rate, tariff and trade flows: Alternative policy scenarios for India . Journal of Asian Economics , 8 : 425 – 54 .
  • Kumar , TK . 1969 . On the existence of an optimal economic policy . Econometrica , 37 : 600 – 12 .
  • Livesey , DA . 1979 . “ The role of feedback in macroeconomic policy ” . In Optimal Control for Econometric Models , Edited by: Holly , S . London : Macmillan .
  • Mallick , SK . 2001 . Dynamics of macroeconomic adjustment with growth: some simulation results . International Economic Journal , 15 : 115 – 39 .
  • Mallick , SK . 2002 . Determinants of long-term growth in India: a Keynesian approach . Progress in Development Studies , 2 : 306 – 24 .
  • Mallick , SK . 2004 . A dynamic macroeconometric model for short-run stabilization in India . Applied Economics , 36 : 261 – 76 .
  • Pierse , R . 1997 . WinSolve Version 2.42: A computer package for solving nonlinear macroeconomic models , UK : Department of Economics, University of Surrey .
  • Pindyck , RS . 1973 . Optimal Planning for Economic Stabilization , Amsterdam : North-Holland .
  • Polak , JJ . 1998 . The IMF monetary model at 40 . Economic Modelling , 15 : 395 – 410 .
  • Przeworski , A and Vreeland , J. R . 2000 . The effect of IMF programs on economic growth . Journal of Development Economics , 62 : 385 – 421 .
  • Rangarajan , C . 1998 . “ Development, inflation, and monetary policy ” . In India's Economic Reforms and Development: Essays for Manmohan Singh , Edited by: Ahluwalia , I. J and Little , I. M. D . 48 – 72 . Delhi : Oxford University Press .
  • Rao , MJM and Singh , B . 1997 . “ Liberalization and growth-oriented structural adjustment programs: a financial programming approach for India ” . In Dynamics of Globalization and Development , Edited by: Gupta , S. D and Choudhry , N. K . London : Kluwer Academic Publishers .
  • Rodriguez , F and Rodrik , D . 2000 . Trade policy and economic growth: a skeptic's guide to the cross-national evidence . NBER Macroeconomics Annual , 15 : 261 – 325 .
  • Storm , S . 1997 . Domestic constraints on export-led growth: a case study of India . Journal of Development Economics , 52 : 83 – 119 .
  • Tinbergen , J . 1952 . On the Theory of Economic Policy , Amsterdam : North-Holland .
  • Turner , DS , Wallis , KF and Whitley , JD . 1989 . Using macroeconometric models to Evaluate Policy Proposals in Britton (1989)
  • Wallis , KF . 1995 . “ Some recent developments in policy making with macroeconometric models ” . In Time Series Analysis and Macroeconometric Modelling: The Collected Papers of Kenneth F. Wallis , 385 – 406 . Cheltenham : Edward Elgar .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.