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Monetary transmission in post-reform India: An evaluation

Singh, Kanhaiya; Kalirajan, Kaliappa

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In the post-reform period, the monetary policy of India has been undergoing various transformations. The emphasis is shifting from conventional instruments of price and quantity control to a more sophisticated route of monetary transmission. Using the recent econometric methodology of cointegrated vector autoregression with generalized restrictions, this study has attempted to examine whether monetary policy in India does work through interest rates in the post-reform period. The long-run...[Show more]

dc.contributor.authorSingh, Kanhaiya
dc.contributor.authorKalirajan, Kaliappa
dc.date.accessioned2015-12-08T22:33:29Z
dc.identifier.issn1354-7860
dc.identifier.urihttp://hdl.handle.net/1885/34698
dc.description.abstractIn the post-reform period, the monetary policy of India has been undergoing various transformations. The emphasis is shifting from conventional instruments of price and quantity control to a more sophisticated route of monetary transmission. Using the recent econometric methodology of cointegrated vector autoregression with generalized restrictions, this study has attempted to examine whether monetary policy in India does work through interest rates in the post-reform period. The long-run relationship and the short-run dynamics suggest an important role for the interest rate.
dc.publisherRoutledge, Taylor & Francis Group
dc.sourceJournal of the Asia Pacific Economy
dc.subjectKeywords: cointegration analysis; econometrics; economic policy; economic reform; interest rate; monetary policy; Asia; Eurasia; India; South Asia Cointegration; Generalized impulse response; Interest rate policy; Structural vector error correction model
dc.titleMonetary transmission in post-reform India: An evaluation
dc.typeJournal article
local.description.notesImported from ARIES
local.identifier.citationvolume12
dc.date.issued2007
local.identifier.absfor140207 - Financial Economics
local.identifier.ariespublicationu4002919xPUB116
local.type.statusPublished Version
local.contributor.affiliationSingh, Kanhaiya, National Council of Applied Economic Research
local.contributor.affiliationKalirajan, K P, College of Asia and the Pacific, ANU
local.description.embargo2037-12-31
local.bibliographicCitation.issue2
local.bibliographicCitation.startpage158
local.bibliographicCitation.lastpage187
local.identifier.doi10.1080/13547860701252371
dc.date.updated2015-12-08T09:36:10Z
local.identifier.scopusID2-s2.0-34047220429
CollectionsANU Research Publications

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