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Macro Policy Challenges in India and Japan

Geoff Riley

26th January 2014

My A2 macro students are now looking at some fascinating macro policy challenges facing a range of countries. This week they choose one from two set assignments. The first offers them an opportunity to analyse some of the causes of high inflation in India and consider how much of a threat it is to India's continued growth and development. A second assignment looks at Abenomics in Japan and whether it can lift the Japanese economy out of over two decades of slow growth and deflationary pressures. I am hoping that there will be some interesting insights allied to good A2 macro analysis as students crack on with their independent research. Download the assignment sheet below and I have added in some suggestions for further reading on the two topics

Assignment

India_Japan_Macro_Challenges.pdf

Suggested reading


India – Inflation, Growth and Development

India's battle against inflation (FT, Jan 2014) www.ft.com/cms/s/0/f0256d5c-8506-11e3-a793-00144feab7de.html

India central bank considers inflation targeting (FT, Jan 2014) www.ft.com/cms/s/0/cc77f4d6-8328-11e3-86c9-00144feab7de.html

Food prices; a bricks and mortar problem for Indian economy (Reuters, Dec 2013): www.reuters.com/article/2013/12/26/us-india-economy-inflation-idUSBRE9BP0HG20131226

In India, economic slowdown and inflation cause middle class to defer dreams (Washington Post, Nov 2013) Click here

Is India becoming an inflation nation? (BBC, Oct 2013): www.bbc.co.uk/news/world-asia-india-24753675

What is wrong with India's economy? (BBC, July 2013): www.bbc.co.uk/news/world-asia-india-23282350

High Inflation Deepens India's Stagflation Fears (WSJ, Dec 2013): http://online.wsj.com/news/articles/SB10001424052702303949504579261780231175394


Abenomics and the Japanese Economy

“Abenomics is the name given to a suite of measures introduced by Japanese prime minister Shinzo Abe after his December 2012 re-election to the post he last held in 2007. His aim was to revive the sluggish economy with "three arrows": a massive fiscal stimulus, more aggressive monetary easing from the Bank of Japan, and structural reforms to boost Japan's competitiveness." (Source: FT Lexicon)

Why Abenomics holds lessons for West (Linda Yueh, Dec 2013): www.bbc.co.uk/news/business-25369031

Abenomics may take 10 years to work (BBC, Oct 2013): http://www.bbc.co.uk/news/business-24440893

Japan banks on success of Abenomics (Stiglitz, Apr 2013): http://www.theguardian.com/business/2013/apr/08/japan-shinzo-abe-yen-economics

Abenomics: The objectives and the risks (BBC, July 2013): http://www.bbc.co.uk/news/business-23339712

What is Abenomics? (Business Insider, July 2013): www.businessinsider.com/what-is-abenomics-2013-3

FT articles on Abenomics - http://search.ft.com/search?queryText=abenomics

Abenomics – one year on – Sloman Economics site: http://pearsonblog.campaignserver.co.uk/?p=11625

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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