Sweta Chaman Saxena

Last Updated: April 24, 2021

Sweta Saxena

Sweta C. Saxena is currently on leave from the IMF to serve as the Chief in the Macroeconomic Policy and Financing for Development Division at the UN Economic and Social Commission for Asia and the Pacific (UNESCAP) in Bangkok, Thailand. She has led ESCAP's 2019 Flagship report, titled "Ambitions beyond growth," 2020 Flagship, titled "Towards sustainable economies," and 2021 Flagship titled, "Towards post-COVID-19 resilient economies." At the IMF, she has worked on multilateral surveillance for the G20 countries in the Research Department and on fragile countries in the African Department. Her research has focused on policy-relevant macro-financial issues, namely, crises and recoveries, contagion, and exchange rates. Sweta has published extensively, including in the American Economic Review, Journal of Economic Literature and the Journal of International Economics. Prior to joining the IMF, she worked at the Bank for International Settlements in Basel, Switzerland, and as an Assistant Professor at the University of Pittsburgh. Sweta obtained her PhD in economics from the University of Washington and a Masters in Economics from the Delhi School of Economics.

Email: SSAXENA@imf.org

Fluent In: Hindi, Spanish.

Education:

Ph.D., Department of Economics, University of Washington, Seattle, WA, 2000. Committee: Charles M. Engel (Chair), Stephen Turnovsky, Kar-yiu Wong and Eric Zivot. Thesis Title: Essays on Exchange Rate Dynamics and Currency Crises in Asia. Fields: International Economics, Econometrics, Finance, Macroeconomics.

M.A. Economics, University of Washington, Seattle, WA, 1995-97.

M.A. Economics, Delhi School of Economics, Delhi University, New Delhi, India, 1992-94.

B.A. Economics (Honors), Lady Shri Ram College for Women, Delhi University, New Delhi, India, 1989-92.


Previous Experience:

Senior Economist, Research Department, International Monetary Fund (IMF), Washington DC, January 2014 – April 2018; African Department (July 2009-January 2014).

Economist, Emerging Market Issues, Monetary and Economic Department, Bank for International Settlements, Basel, Switzerland, August 2006 – July 2009.

Assistant Professor, Graduate School of Public and International Affairs, University of Pittsburgh, Pittsburgh, USA, September 1999 – August 2006.

Teaching Assistant, Department of Economics, University of Washington, Seattle, 1995-99.

Intern, FSPEU, The World Bank, Washington DC, June-September 1998.


Referee Activities:

China Economic Review, Contemporary Economic Policy, Czech Journal of Economics and Finance, Economic Inquiry: Miscellany, Economic Issues, Economics Letters, Empirical Economics, Economic Modeling, Global Economy Journal, IMF Economic Review, IMF Staff Papers, Indian Journal of Economics and Business, International Review of Economics and Finance, Journal of Applied Econometrics, Journal of Applied Economics, Journal of Asia Pacific Economy, Journal of Asian Economics, Journal of Comparative Economics, Journal of Development Studies, Journal of Empirical Finance, Journal of International Economics, Journal of International Money and Finance, Journal of Money, Credit and Banking, Journal of Risk and Insurance, International Economics, North American Journal of Economics and Finance, Review of International Economics, Review of World Economics, South Asia Economic Journal.


Editorial Activities:

Guest Editor, Special Inaugural Issue, IMF Research Perspectives, Vol 19, No. 1. (June 2018)

Editorial Board, Asia-Pacific Sustainable Development Journal, 2018 -


Awards and Honors:

Outstanding Contribution to the “2014 Spillover Report,” Departmental Award, 2015, International Monetary Fund.

Excellence in Client Focus for South Sudan Technical Assistance Program, Fund-wide Award, 2014, International Monetary Fund.

Excellence in Collaboration on South Sudan, Fund-wide Award, 2012, International Monetary Fund.

Salzburg Seminar, Salzburg, Fellowship, 2002.

Asian Studies Program and University Center for International Studies, University of Pittsburgh, Small Grant, 2000-05.

J. Watamull Graduate Scholarship, University of Washington, 1999.


Current Position:

Chief, Macroeconomic Policy and Analysis, Macroeconomic Policy and Financing for Development, UN Economic and Social Commission for Asia and the Pacific (UN-ESCAP), Bangkok, Thailand, May 2018 - present.


Field of Expertise:

Poverty and Inequality

Open Economy Macroeconomics

Macro-Financial Issues

International Finance

Development Economics

IMF Books and Working Papers:

Hysteresis and Business Cycles , Working Paper No. 20/73 , May 29, 2020

Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and its Policy Implications , Working Paper No. 17/250 , November 16, 2017

Impact of Migration on Income Levels in Advanced Economies , Spillover Notes 8 , October 24, 2016

The East African Community : Prospects for Sustained Growth , Working Paper No. 12/272 , November 14, 2012

International Evidence on Recovery from Recessions , Working Paper No. 09/183 , August 01, 2009

The Monetary Model Strikes Back: Evidence from the World , Working Paper No. 08/73 , March 01, 2008

Robbing the Riches: Capital Flight, Institutions, and Instability , Working Paper No. 05/199 , October 01, 2005

Growth Dynamics: The Myth of Economic Recovery , Working Paper No. 05/147 , July 01, 2005

Crouching Tiger, Hidden Dragon: What are the Consequences of China's WTO Entry for India's Trade , Working Paper No. 05/101 , May 01, 2005

Eurosclerosis or Financial Collapse: Why Did Swedish Incomes Fall Behind? , Working Paper No. 05/29 , February 01, 2005

Did Output Recover from the Asian Crisis? , Working Paper No. 03/48 , March 01, 2003

An Empirical Analysis of China's Export Behavior , Working Paper No. 02/200 , November 01, 2002

What Caused the 1991 Currency Crisis in India? , Working Paper No. 00/157 , October 01, 2000

Alternative Methods of Estimating Potential Output and the Output Gap - An Application to Sweden , Working Paper No. 00/59 , March 01, 2000

Contagion, Monsoons, and Domestic Turmoil in Indonesia - A Case Study in the Asian Currency Crisis , Working Paper No. 00/60 , March 01, 2000

IMF Occasional Papers, Pamphlets, and Special Issues Papers

"Impact of Migration on Income Levels in Advanced Economies," 2016, Spillover Note 8 (with F. Jaumotte and K. Koloskova).

iMFdirect Blog Posts

"Three Key Questions About the Slowdown in Emerging Markets" Sept 18, 2014

"Migrants Bring Economic Benefits for Advanced Economies," Oct 24, 2016 (with F. Jaumotte and K. Koloskova)

"Growth That Reaches Everyone: Facts, Factors, Tools," Sept 20, 2017 (with R. Duttagupta, S. Fabrizio, and D. Furceri)

"The Economic Scars of Crises and Recessions," March 21, 2018 (with V. Cerra)

F&D articles

"A Spoonful of Sugar," 2016, Finance and Development, December: 30-32 (with F. Jaumotte and K. Koloskova).

Other Published Materials

Guest Editor, Special Inaugural Issue, IMF Research Perspectives, Vol. 19, No. 1 (June 2018)

"Can {Un}Happiness Explain Macroeconomics?" IMF Research Perspectives, 19(1): 16-17, June 2018 (with S. A. Hannan).

Publications in Journals (Refereed)

"Hysteresis and Business Cycles," 2021, Journal of Economic Literature (with V. Cerra and A. Fatás).

“Scarred for Life: Lasting Consequences of Unemployment and Informal Self-Employment – An Empirical Evidence from Indonesia,” 2021, Economic Analysis and Policy (with D. Pritadrajati and A. Kusuma)

“Fighting the Scarring Effects of COVID-19,” 2021, Industrial and Corporate Change (with V. Cerra and A. Fatás).

“Exchange Rate Regimes, Devaluations and Growth Collapses,” 2018, Journal of Macroeconomics, 57:15-25 (with M. Bleaney and L. Yin). Also: Discussion Paper 2016/02, University of Nottingham.

“Growth Dynamics: The Myth of Economic Recovery,” 2008, American Economic Review, 98(1): 439-457 (with V. Cerra). Also IMF Working Paper 05/147. Also BIS Working Paper 226. Reprinted in: Macrofinancial Linkages: Trends, Crises and Policies, edited by Christopher Crowe, Simon Johnson, Jonathan Ostry and Jeromin Zettelmeyer, 2010, IMF. Featured in: Greg Mankiw’s blog, March 4, 2009.

“The Monetary Model Strikes Back: Evidence from the World,” 2010, Journal of International Economics, 81(2): 184-196 (with V. Cerra). Also IMF Working Paper 08/73.

“Chronicle of Currency Collapses: Re-examining the effects on Output,” 2012, Journal of International Money and Finance, 31(4): 680-708; lead article (with M. Bussiere and C. Tovar). Also BIS Working Paper 314. Also ECB Working Paper 1226.

“Did Output Recover From the Asian Crisis?” 2005, IMF Staff Papers, 52(1): 1-23; lead article (with V. Cerra). Also IMF Working Paper 03/48. Featured in: IMF Survey, Volume 32, Number 18, October 20, 2003.

“Out of Sample Performance of the Macroeconomic Balance Approach to the Real Exchange Rate in Sub-Saharan Africa,” 2014, Journal of African Economies, 23(3): 346-60 (with V. Cerra).

“International Evidence on Recovery from Recessions,” 2013, Contemporary Economic Policy, 31(2): 424-39 (with V. Cerra and U. Panizza). Also IMF Working Paper 09/183.

“Robbing the Riches: Capital Flight, Institutions and Debt,” 2008, Journal of Development Studies, 44(8): 1190-1213 (with V. Cerra and M. Rishi). Also “Robbing the Riches: Capital Flight, Institutions and Instability,” IMF Working Paper 05/199. Featured in: IMF Survey, Volume 35, Number 2, January 23, 2006.

“Business Cycle Dynamics in a Small Open Economy,” 2008, Applied Economics Letters, 15(15): 1153-1157; lead article (with V. Cerra).

“Can South Asia adopt a Common Currency?” 2005, Journal of Asian Economics, 16(4): 635-62.

“The Changing Nature of Currency Crises,” 2004, Journal of Economic Surveys, 18(3): 321-50. Reprinted in: Issues in Monetary, Financial and Macroeconomic Adjustment Policies, edited by Stuart Sayer, 2005, Blackwell Publishing Very preliminary version – “Perspectives on Currency Crises,” 2001, ICRIER Working Paper 01/74.

“How Responsive is Chinese Export Supply to Market Signals?” 2003, China Economic Review, 14(3): 350-70 (with V. Cerra). Also “An Empirical Analysis of China’s Export Behavior,” IMF Working Paper 02/200.

“How Competitive is Irish Manufacturing?” 2003, The Economic and Social Review, 34(2): 173-193 (with V. Cerra and J. Soikkeli).

“Exchange Rate Dynamics in Indonesia: 1980-98,” 2002, Journal of Asian Economics, 13(4): 545-63.

“Contagion, Monsoons, and Domestic Turmoil in Indonesia’s Currency Crisis,” February 2002, Review of International Economics, 10(1): 36-44 (with V. Cerra). Also “Contagion, Monsoons, and Domestic Turmoil in Indonesia: A Case Study in the Asian Currency Crisis,” IMF Working Paper 00/60.

“Is Outsourcing really as bad as it is made to sound? A Re-Assessment and Some Perspective,” 2004, Indian Journal of Economics and Business, Special Issue: 63-79 (with M. Rishi). Featured in: University Times, Volume 37, Number 4, October 14, 2004.

“Technological Innovation in the Indian Banking Industry: The Late Bloomer,” 2004, Accounting, Business and Financial History, 14(3): 339-53 (with M. Rishi).

“What Caused the 1991 Currency Crisis in India?” 2002, IMF Staff Papers, 49(3): 395-425 (with V. Cerra). Also IMF Working Paper 00/157.

Other Published Materials

"Resilient economies are possible," 21 April 2021 (with H. Malik).

"Towards post-COVID-19 resilient economies," 2021 Economic and Social Survey of Asia and the Pacific.

"Building a post-COVID-19 resilient economy," Nov 27, 2020.

"Can this time be different? Challenges and opportunities for Asia-Pacific economies in the aftermath of COVID-19" ESCAP Policy Brief, August 11, 2020 (with Z. Huang).

"Time and Tide Wait for No Man," 23 June 2020 (with S. Srivastava).

"Combating COVID-19 in Asia and the Pacific: Measures, Lessons and the Way Forward," ESCAP Policy Brief, May 15, 2020 (with Z. Huang).

"The persistence of a COVID-induced global recession," VOXEU, May 14, 2020 (with V. Cerra and A. Fatas).

"Will post-COVID-19 economies be more just and sustainable?" Times Now News, Guest Column, April 21, 2020.

"Towards sustainable economies," 2020 Economic and Social Survey of Asia and the Pacific.

"Caring for sustainability in times of economic crisis," April 6, 2020.

"Hysteresis and Business Cycles," CEPR Discussion Paper 14531 (with V. Cerra and A. Fatas).

"Bringing together environment and economics for sustainability," TerraGreen, February 2020 (in conversation with N.Kalyani).

"Accelerating the Asia-Pacific Quest for Sustainable Development,” SDGs Digest Issue No 10, January 2020.

"The planet is the only limit" (with J. Bisbey), November 6, 2019.

"Ambitions beyond growth," 2019 Economic and Social Survey of Asia and the Pacific.

"An economics for people and planet," March 29, 2019.

"The Asian Dream: What does it entail?" (with Z. Huang and D. Lee), December 19, 2018.

"Global Financial Crisis: Flashback and Flashforward for Asia and the Pacific," (with Z. Huang), September 10, 2018.

Sweta Saxena

Sweta C. Saxena is currently on leave from the IMF to serve as the Chief in the Macroeconomic Policy and Financing for Development Division at the UN Economic and Social Commission for Asia and the Pacific (UNESCAP) in Bangkok, Thailand. She has led ESCAP's 2019 Flagship report, titled "Ambitions beyond growth," 2020 Flagship, titled "Towards sustainable economies," and 2021 Flagship titled, "Towards post-COVID-19 resilient economies." At the IMF, she has worked on multilateral surveillance for the G20 countries in the Research Department and on fragile countries in the African Department. Her research has focused on policy-relevant macro-financial issues, namely, crises and recoveries, contagion, and exchange rates. Sweta has published extensively, including in the American Economic Review, Journal of Economic Literature and the Journal of International Economics. Prior to joining the IMF, she worked at the Bank for International Settlements in Basel, Switzerland, and as an Assistant Professor at the University of Pittsburgh. Sweta obtained her PhD in economics from the University of Washington and a Masters in Economics from the Delhi School of Economics.

Email: SSAXENA@imf.org

Fluent In: Hindi, Spanish.

Education:

Ph.D., Department of Economics, University of Washington, Seattle, WA, 2000. Committee: Charles M. Engel (Chair), Stephen Turnovsky, Kar-yiu Wong and Eric Zivot. Thesis Title: Essays on Exchange Rate Dynamics and Currency Crises in Asia. Fields: International Economics, Econometrics, Finance, Macroeconomics.

M.A. Economics, University of Washington, Seattle, WA, 1995-97.

M.A. Economics, Delhi School of Economics, Delhi University, New Delhi, India, 1992-94.

B.A. Economics (Honors), Lady Shri Ram College for Women, Delhi University, New Delhi, India, 1989-92.


Previous Experience:

Senior Economist, Research Department, International Monetary Fund (IMF), Washington DC, January 2014 – April 2018; African Department (July 2009-January 2014).

Economist, Emerging Market Issues, Monetary and Economic Department, Bank for International Settlements, Basel, Switzerland, August 2006 – July 2009.

Assistant Professor, Graduate School of Public and International Affairs, University of Pittsburgh, Pittsburgh, USA, September 1999 – August 2006.

Teaching Assistant, Department of Economics, University of Washington, Seattle, 1995-99.

Intern, FSPEU, The World Bank, Washington DC, June-September 1998.


Referee Activities:

China Economic Review, Contemporary Economic Policy, Czech Journal of Economics and Finance, Economic Inquiry: Miscellany, Economic Issues, Economics Letters, Empirical Economics, Economic Modeling, Global Economy Journal, IMF Economic Review, IMF Staff Papers, Indian Journal of Economics and Business, International Review of Economics and Finance, Journal of Applied Econometrics, Journal of Applied Economics, Journal of Asia Pacific Economy, Journal of Asian Economics, Journal of Comparative Economics, Journal of Development Studies, Journal of Empirical Finance, Journal of International Economics, Journal of International Money and Finance, Journal of Money, Credit and Banking, Journal of Risk and Insurance, International Economics, North American Journal of Economics and Finance, Review of International Economics, Review of World Economics, South Asia Economic Journal.


Editorial Activities:

Guest Editor, Special Inaugural Issue, IMF Research Perspectives, Vol 19, No. 1. (June 2018)

Editorial Board, Asia-Pacific Sustainable Development Journal, 2018 -


Awards and Honors:

Outstanding Contribution to the “2014 Spillover Report,” Departmental Award, 2015, International Monetary Fund.

Excellence in Client Focus for South Sudan Technical Assistance Program, Fund-wide Award, 2014, International Monetary Fund.

Excellence in Collaboration on South Sudan, Fund-wide Award, 2012, International Monetary Fund.

Salzburg Seminar, Salzburg, Fellowship, 2002.

Asian Studies Program and University Center for International Studies, University of Pittsburgh, Small Grant, 2000-05.

J. Watamull Graduate Scholarship, University of Washington, 1999.


Current Position:

Chief, Macroeconomic Policy and Analysis, Macroeconomic Policy and Financing for Development, UN Economic and Social Commission for Asia and the Pacific (UN-ESCAP), Bangkok, Thailand, May 2018 - present.


Field of Expertise:

Poverty and Inequality

Open Economy Macroeconomics

Macro-Financial Issues

International Finance

Development Economics

IMF Books and Working Papers:

Hysteresis and Business Cycles , Working Paper No. 20/73 , May 29, 2020

Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and its Policy Implications , Working Paper No. 17/250 , November 16, 2017

Impact of Migration on Income Levels in Advanced Economies , Spillover Notes 8 , October 24, 2016

The East African Community : Prospects for Sustained Growth , Working Paper No. 12/272 , November 14, 2012

International Evidence on Recovery from Recessions , Working Paper No. 09/183 , August 01, 2009

The Monetary Model Strikes Back: Evidence from the World , Working Paper No. 08/73 , March 01, 2008

Robbing the Riches: Capital Flight, Institutions, and Instability , Working Paper No. 05/199 , October 01, 2005

Growth Dynamics: The Myth of Economic Recovery , Working Paper No. 05/147 , July 01, 2005

Crouching Tiger, Hidden Dragon: What are the Consequences of China's WTO Entry for India's Trade , Working Paper No. 05/101 , May 01, 2005

Eurosclerosis or Financial Collapse: Why Did Swedish Incomes Fall Behind? , Working Paper No. 05/29 , February 01, 2005

Did Output Recover from the Asian Crisis? , Working Paper No. 03/48 , March 01, 2003

An Empirical Analysis of China's Export Behavior , Working Paper No. 02/200 , November 01, 2002

What Caused the 1991 Currency Crisis in India? , Working Paper No. 00/157 , October 01, 2000

Alternative Methods of Estimating Potential Output and the Output Gap - An Application to Sweden , Working Paper No. 00/59 , March 01, 2000

Contagion, Monsoons, and Domestic Turmoil in Indonesia - A Case Study in the Asian Currency Crisis , Working Paper No. 00/60 , March 01, 2000

IMF Occasional Papers, Pamphlets, and Special Issues Papers

"Impact of Migration on Income Levels in Advanced Economies," 2016, Spillover Note 8 (with F. Jaumotte and K. Koloskova).

iMFdirect Blog Posts

"Three Key Questions About the Slowdown in Emerging Markets" Sept 18, 2014

"Migrants Bring Economic Benefits for Advanced Economies," Oct 24, 2016 (with F. Jaumotte and K. Koloskova)

"Growth That Reaches Everyone: Facts, Factors, Tools," Sept 20, 2017 (with R. Duttagupta, S. Fabrizio, and D. Furceri)

"The Economic Scars of Crises and Recessions," March 21, 2018 (with V. Cerra)

F&D articles

"A Spoonful of Sugar," 2016, Finance and Development, December: 30-32 (with F. Jaumotte and K. Koloskova).

Other Published Materials

Guest Editor, Special Inaugural Issue, IMF Research Perspectives, Vol. 19, No. 1 (June 2018)

"Can {Un}Happiness Explain Macroeconomics?" IMF Research Perspectives, 19(1): 16-17, June 2018 (with S. A. Hannan).

Publications in Journals (Refereed)

"Hysteresis and Business Cycles," 2021, Journal of Economic Literature (with V. Cerra and A. Fatás).

“Scarred for Life: Lasting Consequences of Unemployment and Informal Self-Employment – An Empirical Evidence from Indonesia,” 2021, Economic Analysis and Policy (with D. Pritadrajati and A. Kusuma)

“Fighting the Scarring Effects of COVID-19,” 2021, Industrial and Corporate Change (with V. Cerra and A. Fatás).

“Exchange Rate Regimes, Devaluations and Growth Collapses,” 2018, Journal of Macroeconomics, 57:15-25 (with M. Bleaney and L. Yin). Also: Discussion Paper 2016/02, University of Nottingham.

“Growth Dynamics: The Myth of Economic Recovery,” 2008, American Economic Review, 98(1): 439-457 (with V. Cerra). Also IMF Working Paper 05/147. Also BIS Working Paper 226. Reprinted in: Macrofinancial Linkages: Trends, Crises and Policies, edited by Christopher Crowe, Simon Johnson, Jonathan Ostry and Jeromin Zettelmeyer, 2010, IMF. Featured in: Greg Mankiw’s blog, March 4, 2009.

“The Monetary Model Strikes Back: Evidence from the World,” 2010, Journal of International Economics, 81(2): 184-196 (with V. Cerra). Also IMF Working Paper 08/73.

“Chronicle of Currency Collapses: Re-examining the effects on Output,” 2012, Journal of International Money and Finance, 31(4): 680-708; lead article (with M. Bussiere and C. Tovar). Also BIS Working Paper 314. Also ECB Working Paper 1226.

“Did Output Recover From the Asian Crisis?” 2005, IMF Staff Papers, 52(1): 1-23; lead article (with V. Cerra). Also IMF Working Paper 03/48. Featured in: IMF Survey, Volume 32, Number 18, October 20, 2003.

“Out of Sample Performance of the Macroeconomic Balance Approach to the Real Exchange Rate in Sub-Saharan Africa,” 2014, Journal of African Economies, 23(3): 346-60 (with V. Cerra).

“International Evidence on Recovery from Recessions,” 2013, Contemporary Economic Policy, 31(2): 424-39 (with V. Cerra and U. Panizza). Also IMF Working Paper 09/183.

“Robbing the Riches: Capital Flight, Institutions and Debt,” 2008, Journal of Development Studies, 44(8): 1190-1213 (with V. Cerra and M. Rishi). Also “Robbing the Riches: Capital Flight, Institutions and Instability,” IMF Working Paper 05/199. Featured in: IMF Survey, Volume 35, Number 2, January 23, 2006.

“Business Cycle Dynamics in a Small Open Economy,” 2008, Applied Economics Letters, 15(15): 1153-1157; lead article (with V. Cerra).

“Can South Asia adopt a Common Currency?” 2005, Journal of Asian Economics, 16(4): 635-62.

“The Changing Nature of Currency Crises,” 2004, Journal of Economic Surveys, 18(3): 321-50. Reprinted in: Issues in Monetary, Financial and Macroeconomic Adjustment Policies, edited by Stuart Sayer, 2005, Blackwell Publishing Very preliminary version – “Perspectives on Currency Crises,” 2001, ICRIER Working Paper 01/74.

“How Responsive is Chinese Export Supply to Market Signals?” 2003, China Economic Review, 14(3): 350-70 (with V. Cerra). Also “An Empirical Analysis of China’s Export Behavior,” IMF Working Paper 02/200.

“How Competitive is Irish Manufacturing?” 2003, The Economic and Social Review, 34(2): 173-193 (with V. Cerra and J. Soikkeli).

“Exchange Rate Dynamics in Indonesia: 1980-98,” 2002, Journal of Asian Economics, 13(4): 545-63.

“Contagion, Monsoons, and Domestic Turmoil in Indonesia’s Currency Crisis,” February 2002, Review of International Economics, 10(1): 36-44 (with V. Cerra). Also “Contagion, Monsoons, and Domestic Turmoil in Indonesia: A Case Study in the Asian Currency Crisis,” IMF Working Paper 00/60.

“Is Outsourcing really as bad as it is made to sound? A Re-Assessment and Some Perspective,” 2004, Indian Journal of Economics and Business, Special Issue: 63-79 (with M. Rishi). Featured in: University Times, Volume 37, Number 4, October 14, 2004.

“Technological Innovation in the Indian Banking Industry: The Late Bloomer,” 2004, Accounting, Business and Financial History, 14(3): 339-53 (with M. Rishi).

“What Caused the 1991 Currency Crisis in India?” 2002, IMF Staff Papers, 49(3): 395-425 (with V. Cerra). Also IMF Working Paper 00/157.

Other Published Materials

"Resilient economies are possible," 21 April 2021 (with H. Malik).

"Towards post-COVID-19 resilient economies," 2021 Economic and Social Survey of Asia and the Pacific.

"Building a post-COVID-19 resilient economy," Nov 27, 2020.

"Can this time be different? Challenges and opportunities for Asia-Pacific economies in the aftermath of COVID-19" ESCAP Policy Brief, August 11, 2020 (with Z. Huang).

"Time and Tide Wait for No Man," 23 June 2020 (with S. Srivastava).

"Combating COVID-19 in Asia and the Pacific: Measures, Lessons and the Way Forward," ESCAP Policy Brief, May 15, 2020 (with Z. Huang).

"The persistence of a COVID-induced global recession," VOXEU, May 14, 2020 (with V. Cerra and A. Fatas).

"Will post-COVID-19 economies be more just and sustainable?" Times Now News, Guest Column, April 21, 2020.

"Towards sustainable economies," 2020 Economic and Social Survey of Asia and the Pacific.

"Caring for sustainability in times of economic crisis," April 6, 2020.

"Hysteresis and Business Cycles," CEPR Discussion Paper 14531 (with V. Cerra and A. Fatas).

"Bringing together environment and economics for sustainability," TerraGreen, February 2020 (in conversation with N.Kalyani).

"Accelerating the Asia-Pacific Quest for Sustainable Development,” SDGs Digest Issue No 10, January 2020.

"The planet is the only limit" (with J. Bisbey), November 6, 2019.

"Ambitions beyond growth," 2019 Economic and Social Survey of Asia and the Pacific.

"An economics for people and planet," March 29, 2019.

"The Asian Dream: What does it entail?" (with Z. Huang and D. Lee), December 19, 2018.

"Global Financial Crisis: Flashback and Flashforward for Asia and the Pacific," (with Z. Huang), September 10, 2018.