In part one of a two-part interview with Pradip Shah, the founding managing director of Crisil, Chairman at IndAsia Fund Advisors, and a board member at several India-based companies, we discuss how India has recovered from currency shocks, how it might recover further, and the progress of various initiatives that have been undertaken to mitigate the impact of those factors on India's vast population living in poverty.
Mutual funds that invest in emerging markets have reportedly seen more than $2 billion in outflows so far in 2013, while funds focused on frontier markets have seen assets under management swell by more than $1.5 billion in the year to date. What explains this divergence in fortunes? The answer seems to be related to the comparative degree of integration in the global economy and appetite for foreign capital.
Emerging markets are vulnerable to aggressive inflows and outflows of capital — and that vulnerability has been on display over the past few weeks, especially in India, where the rupee has lost 15% of its value since March. These highlights from recent CFA Institute conferences help shed light on the current turmoil.
The author of "Red Capitalism" and "Privatizing China" is not optimistic about the substance and pace of financial and economic liberalization.
Clint R. Laurent discusses how the resolution of sovereign debt problems in the United States and the Eurozone will affect economic activity and the flows of trade and finance across the globe. Specifically, he touches upon the substantial challenges faced by India and the rest of east Asia in the composition of demand and output and how major bond, equity, and currency markets anticipate the incipient cyclical and structural shifts in the world economy.
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