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Shah, Ajay

Overview
Works: 51 works in 120 publications in 1 language and 889 library holdings
Genres: History 
Classifications: HB1, 332.10954
Publication Timeline
Key
Publications about Ajay Shah
Publications by Ajay Shah
Most widely held works by Ajay Shah
India's financial markets an insider's guide to how the markets work by Ajay Shah( file )
17 editions published in 2008 in English and Undetermined and held by 395 libraries worldwide
The whole world wants to invest in India. But how to do this successfully? Written by two Indian financial experts with a seasoned expert of the Chicago Mercantile Exchange, this book tells you the why and how of investing in India. It explains how India's financial markets work, discusses the amazing growth of the Indian economy, identifies growth drivers, uncovers areas of uncertainty and risk. It describes how each market works: private equity and IPOs, bonds, stocks, derivatives, commodities, real estate, currency. The authors include a discussion of capital controls in each section to address the needs of foreign investors. Learn about the the markets, the instruments, the participants, and the institutions governing trading, clearing, and settlement of transactions, as well as the legal and regulatory framework governing financial securities transactions. --Written by two life-long insiders who can explain India's financial markets to outsiders --Clear and comprehensive coverage of this economic powerhouse --Caters to the needs of foreign investors
India's experience with capital flows : the elusive quest for a sustainable current account deficit by Ajay Shah( file )
8 editions published in 2005 in English and held by 65 libraries worldwide
"From the early 1990s onwards, India has engaged in policies involving trade liberalisation, strong controls on debt flows, and encouragement for portfolio flows and FDI, under a pegged exchange rate regime. Domestic institutional factors have led to relatively little FDI and substantial portfolio flows. There has been significant tension between capital flows and the currency regime. Many tactical details of the intricate reforms to the capital controls derive from the interlocking relationships between monetary policy, the currency regime and capital flows. In the recent period, pegging has given a capital outflow through reserves accumulation which was larger than the substantial net private capital inflows. In March 2004, difficulties of pegging appear to have led to a near-tripling of the nominal rupee-dollar returns volatility, which has reduced outward capital flows. The goal of the early 1990s - of finding a consistent way to augment investment using current account deficits - has remained elusive"--National Bureau of Economic Research web site
The relevance of index funds for pension investment in equities by Ajay Shah( file )
9 editions published in 2000 in English and held by 55 libraries worldwide
The case for index funds is predicated on the observed inability of active managers to outperform market indexes over long periods. Agency conflicts between investors and fund managers are another important motivation, as index funds benefit from simple, unambiguous accountability
Foreign Investors Under Stress by Ila Patnaik( file )
6 editions published between 2012 and 2013 in English and held by 40 libraries worldwide
Emerging market policy makers have been concerned about the financial stability implications offinancial globalization. These concerns are focused on behavior under stressed conditions. Do tailevents in the home country trigger off extreme responses by foreign investors ? are foreign investors`fair weather friends'? In this, is there asymmetry between the response of foreign investors to verygood versus very bad days? Do foreign investors have a major impact on domestic markets throughlarge inflows or outflows ? are they ?big fish in a small pond'? Do extreme events in world marketsinduce extr
The investment technology of foreign and domestic institutional investors in an emerging market by Ila Patnaik( file )
4 editions published in 2013 in English and held by 33 libraries worldwide
"The literature on the investment technology of foreign versus domestic investors has inconclusive results. This paper revisits the question, with a focus on decomposing portfolio performance into asset allocation and security selection. We document signicant differences in exposure to systematic asset pricing factors between foreign and domestic investors. A quasi-experimental strategy is introduced, for comparing security selection after controlling for differences in asset allocation. Our results show that foreign investors in India do remarkably poorly at security selection"--Abstract
The relevance of index funds for pension investment in equities by Ajay Shah( file )
2 editions published between 1999 and 2000 in Undetermined and English and held by 32 libraries worldwide
The case for index funds is predicated on the observed inability of active managers to outperform market indexes over long periods. Agency conflicts between investors and fund managers are another important motivation, as index funds benefit from simple, unambiguous accountability
Interest rate volatility and risk in Indian banking by Ila Patnaik( Book )
5 editions published in 2004 in English and held by 25 libraries worldwide
The easing of controls on interest rates has led to higher interest rate volatility in India. Hence, there is a need to measure and monitor the interest rate exposure of Indian banks. Using publicly available information, this paper attempts to assess the interest rate risk carried by a sample of Indian banks in March 2002. We find evidence of substantial exposure to interest rates
Export versus FDI in services by Rudrani Bhattacharya( Computer File )
5 editions published between 2010 and 2011 in English and held by 19 libraries worldwide
In the literature on exports and investment, most productive firms are seen to invest abroad. In the Helpman et al. (2004) model, costs of transportation play a critical role in the decision about whether to serve foreign customers by exporting, or by producing abroad. We consider the case of tradable services, where the marginal cost of transport is near zero. We argue that in the purchase of services, buyers face uncertainty about product quality, especially when production is located far away. Firm optimisation then leads less productive firms to self-select themselves for FDI. We test this prediction with data from the Indian software industry and find support for it
New issues in Indian macro policy by Ajay Shah( Book )
2 editions published in 2008 in English and held by 18 libraries worldwide
Early warnings of inflation in India by Rudrani Bhattacharya( Book )
1 edition published in 2008 in English and held by 17 libraries worldwide
Managing capital flows : the case of India by Ajay Shah( Book )
1 edition published in 2008 in English and held by 17 libraries worldwide
Does the currency regime shape unhedged currency exposure? by Ila Patnaik( Book )
1 edition published in 2007 in English and held by 16 libraries worldwide
India's financial globalisation by Ajay Shah( file )
4 editions published between 2010 and 2011 in English and held by 16 libraries worldwide
India embarked on reintegration with the world economy in the early 1990s. At first, a certain limited opening took place emphasising equity flows by certain kinds of foreign investors. This opening has had myriad interesting implications in terms of both microeconomics and macroeconomics. A dynamic process of change in the economy and in economic policy then came about, with a co-evolution between the system of capital controls, macroeconomic policy, and the internationalisation of firms including the emergence of Indian multinationals.Through this process, de facto openness has risen sharply. De facto openness has implied a loss of monetary policy autonomy when exchange rate pegging was attempted. The exchange rate regime has evolved towards greater flexibility
Monetary policy transmission in an emerging market setting by Rudrani Bhattacharya( Computer File )
4 editions published between 2010 and 2011 in English and held by 15 libraries worldwide
Some emerging economies have a relatively ineffective monetary policy transmission owing to weaknesses in the domestic financial system and the presence of a large and segmented informal sector. At the same time, small open economies can have a substantial monetary policy transmission through the exchange rate channel. In order to understand this setting, we explore a unified treatment of monetary policy transmission and exchange rate pass-through. The results for an emerging market, India, suggest that the most effective mechanism through which monetary policy impacts inflation runs through the exchange rate
Monetary policy transmission in an emergingmarket setting by Ila Patnaik( file )
2 editions published in 2011 in English and held by 15 libraries worldwide
Some emerging economies have a relatively ineffective monetary policy transmission owing to weaknesses in the domestic financial system and the presence of a large and segmented informal sector. At the same time, small open economies can have a substantial monetary policy transmission through the exchange rate channel. In order to understand this setting, we explore a unified treatment of monetary policy transmission and exchangerate pass-through. The results for an emerging market, India, suggest that the most effective mechanism through which monetary policy impacts inflation runs through th
Foreign shareholding : a decomposition analysis by Ajay Shah( Book )
2 editions published in 2010 in English and held by 14 libraries worldwide
With reference to India
Determinants of trade misinvoicing by Ila Patnaik( Book )
2 editions published in 2010 in English and held by 14 libraries worldwide
India's financial globalisation by Ila Patnaik( file )
1 edition published in 2011 in English and held by 13 libraries worldwide
India embarked on reintegration with the world economy in the early 1990s. At first, a certain limited opening took place emphasising equity flows by certain kinds of foreign investors. This opening has had myriad interesting implications in terms of both microeconomics and macroeconomics. A dynamic process of change in the economy and in economic policy then came about, with a co-evolution between the system of capital controls, macroeconomic policy, and the internationalisation of firms including the emergence of Indian multinationals.Through this process, de facto openness has risen sharply
Examining the decoupling hypothesis for India by Shruthi Jayaram( Book )
2 editions published in 2009 in English and held by 13 libraries worldwide
Financial Sector Reform in India Time for a Second Wave? ( Article )
1 edition published in 2011 in English and held by 10 libraries worldwide
The Indian financial system has changed considerably since the 1990s. Interest rates have been deregulated and new entrants allowed in the banking and the securities business. The Indian equity market has become world-class. New private banks have emerged that are more customer-oriented than the older state-owned banks. Meanwhile, the scale of saving within the economy has expanded considerably, much as in East Asian economies during their high-growth period. This adds to the need for further financial-sector reform. In particular, banks need much greater freedom in asset allocation. While public-sector banks did appear sounder to the public during the 2007/08 crisis due to implicit government backing, they ought to be privatised to improve their governance and minimise the recurrent need for recapitalisation. The remaining obstacles to new entry have to be reduced. Financial inclusion is an important priority and restrictions on microfinance should be avoided. The regulatory and legal framework also needs to be overhauled, consolidating the diverse legislation. While such reforms would improve financial sector efficiency they would also likely have positive spillover effects on the rest of the economy and help sustain rapid growth. This Working Paper relates to the 2011 OECD Economic Survey of India (www.oecd.org/eco/surveys/india)
 
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Alternative Names
Ajay Shah
Languages
English (77)
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