Global Recession and Indian Economic Development
Contents: Foreword. Editorial advisers. About the book. Editor’s profile. Introduction by the editor. 1. Global recession and the banking sector/Venkatesh. J. and S. Preethi Sharmila. 2. Global recession and Indian banking industry/R. Vijayakumar and C. Radhapriya. 3. Banking regulations, liquidity and inflation during financial crisis/A. Ramachandran and B. Somanadevi Thiagarajan. 4. Foreign Direct Investment (FDI) and the Indian economy/K. Thamizhselvan and A. Elavarasan. 5. Impact of global recession on India/R. Manimekalai. 6. Global recession and Indian insurance sector/B. Nirmala Devi and P. Marishkumar. 7. Global recession and Foreign Direct Investment (FDI) in India/R. Muthusamy. 8. Global recession and trade financing/C. Natarajan, V. Sathiya and A. Jayaseelan. 9. Global downturn and Indian retail industry/A. Ashok Kumar and G. Aarthana. 10. Human resources Management (HRM) in the context of global meltdown/Venkatesh. J. and Vivekanandan. K. 11. Global financial crisis and Quality of Work Life (QWL) of employees/P. Mohanraj, N. Yogaraj and M. Rathinasamy. 12. Global recession: a good deal for Indian Businesses Process Outsourcing (BPO)/S. Asha Parvin and Delphin Jemila. 13. Success factors in Enterprise Resource Planning (ERP)/Arun Korath and Venkatesh. J. 14. Global recession and Indian textile industry/P. Mohanraj and R. Thianeshwaran. 15. Global recession and automobile industry/K. Mayuri, C. Vaishnavi and P. Gandhimathi. 16. Information technology and global business/N. Rathinagireeswaran and V. Anil Kumar. 17. Global financial crisis and oil industry/Thanga Durai. R and Murali. T.18. Global recession and Indian cement industry/M. Mohan and Muthukumar. G. Appendixes. Index.
“In its publication World Economic Outlook (October 2008), the IMF placed the estimated world output growth at 3.9 percent in 2008 which represented a significant slide from a level of about 5.0 percent in 2006 and 2007. By early November, the IMF had revised its forecast for global growth downwards from 3.9 percent to 3.7 percent for 2008, and from 3.0 percent to 2.2 percent for 2009.
Several countries, notably US, UK, Euro Area ad Japan are all officially in recession. Confidence in global credit markets continues to be low and credit lines remain clogged. The tight and hesitant conditions in the credit markets are precipitating erosion of demand which, in turn, is feeding a recession--deflation vicious cycle. Central banks around the world are responding to the developments by aggressive and unconventional injection of liquidity, monetary easing and relaxation of collateral norms and eligibility criteria for their lending to financial institutions.
The recent developments suggest that impact is likely to be more protracted and deeper than envisaged by the IMF. In an increasingly globalized economic milieu, these external developments have a major impact on world economy, including the emerging market economies and developing countries through both direct and indirect transmission channels.
The present work contains 18 papers contributed by scholars on the subject who have analyzed the repercussions of the global downturn on the growth prospects of the Indian economy.” (jacket)
