3rd Research meeting, 30 Sep and 1 Oct, 2008
Amaltas Conference Room
India Habitat Centre
Lodhi Road
New Delhi.
The entry is from the IHC Gate number 3.
30 September 2008
| 8:30 - 9:00 | Coffee |
| 9:00 - 10:00 | Inaugural C. Rangarajan, Chairman, NIPFP Ashok Chawla, Secretary, DEA C. B. Bhave, Chairman, Securities and Exchanges Board of India |
| 10:00 - 10:30 | Coffee |
| 10:30 - 12:45 | Macroeconomics Chairman: Arvind Virmani, DEA Inflation targeting and real exchange rates in emerging markets, [paper] [slideshow] Michael Hutchison, UC Santa Cruz Discussant: Vincent Koen, OECD [slideshow] East Asian experiences with capital flows, [paper] [slideshow] Masahiro Kawai, ADB Institute Discussant: Jahangir Aziz, DEA [slideshow] Financial exchange rates and international currency exposures, [paper] [slideshow] Philip Lane, Trinity College, Dublin Discussant: Michael Hutchison, UC Santa Cruz [slideshow] |
| 12:45-13:45 | Lunch |
| 14:00 - 15:30 | International economics Chairman: K. P. Krishnan, DEA Does openness to international financial flows contribute to productivity growth?, [paper] [slideshow] Eswar Prasad, Cornell University, Brookings Institution and NBER Discussant: Sourafel Girma, Nottingham Business School [slideshow] Fuller capital account opening in China and India: Mind the gap, [paper] [slideshow] Robert McCauley, BIS Discussant: Masahiro Kawai, ADB Institute |
| 15:30 - 16:00 | Coffee |
| 16:00 - 18:15 | International finance Chairman: TBA Trade misinvoicing: A channel for de facto capital account openness, [paper] [slideshow] Abhijit Sen Gupta, ICRIER Discussant: Eswar Prasad, Cornell University, Brookings Institution and NBER The value of control in emerging markets, [paper] [slideshow] Anusha Chari, University of North Carolina, Chapel Hill Discussant: Ajay Shah, NIPFP [slideshow] Patterns of international capital raisings, [paper] [slideshow] Sergio Schmukler, World Bank. Discussant: Nirvikar Singh, UC Santa Cruz |
| 7:30 - 9:00 | Dinner, at the `Maple Room' at India Habitat Centre |
1 October 2008
| 8:30 - 9:00 | Coffee |
| 9:00 - 11:30 | India - I Chairman: Shekhar Shah, World Bank Domestic investment by firms who expand overseas, [slideshow] Sourafel Girma, Nottingham Business School Discussant: Anusha Chari, University of North Carolina, Chapel Hill Indian capital control liberalisation: Estimates from NDF market, [paper] [slideshow] Nirvikar Singh, UC Santa Cruz Discussant: Ajay Shah and Matthieu Stigler, NIPFP [slideshow] Investment choices by foreign and domestic institutional investors, [paper] [slideshow] Ila Patnaik, NIPFP Discussant: Robert McCauley, BIS [slideshow] |
| 11:30 - 12:00 | Coffee |
| 12:00 - 13:00 | India - II Chairman: Jahangir Aziz, DEA Indian Rupee Market Intervention: Managing Volatility or Inducing Additional Capital Inflows?, [paper] [slideshow] Hiroko Oura, IMF Discussant: Ila Patnaik, NIPFP [slideshow] |
| 13:00 - 14:00 | Lunch |
| 14:00 - 15:30 | India - III Chairman: Suman Bery, NCAER Movement of trade balance and exchange rate sensitivity of industry trade flows, [paper] [slideshow] Rajarshi Mitra, University of Wisconsin, Milwaukee Discussant: S. Madhur, ADB One way bets on pegged exchange rates, [paper] [slideshow] Ajay Shah, NIPFP Discussant: Sergio Schmukler, World Bank [slideshow] |
| 15:30 - 16:00 | Coffee |
| 16:00 - 18:30 | Practitioner session Chairman: Sindushree Khullar, DEA Legal contradictions of the FII framework, [slideshow] Somasekhar Sundaresan, J. Sagar Associates The global market for Indian equities, [slideshow] Gautam Chand, Instanex The global market for derivatives on Indian underlyings, Sayee Srinivasan, Chicago Mercantile Exchange |
| 7:30 - 9:00 | Dinner, at the `Maple Room' at India Habitat Centre |
2nd Research meeting, 27-28 March 2008
Maple Room
India Habitat Centre
Lodhi Road
New Delhi.
The entry is from the IHC Gate number 3.
Photographs from the meeting. If you click on any of the images, you get the fullres underlying file.
27 March 2008
| 9:00 - 9:20 | Coffee and snacks |
| 9:20 - 9:30 | Welcome |
| 9:30 - 12:30 | Session on "Capital controls" Chairman: Arvind Virmani, Ministry of Finance Capital controls and international financial integration, [paper] [slideshow] Sergio Schmukler, World Bank Discussant: Ajay Shah, NIPFP [slideshow] Do capital controls foster exchange rate stability?, [paper] [slideshow] Michael Hutchison, UC Santa Cruz Discussant: Atish Ghosh, IMF Policy responses to capital flows, [paper] [slideshow] Juan Fernando Zalduendo, IMF Discussant: Abhijit Sen Gupta, ICRIER [slideshow] |
| 12:30-13:30 | Lunch |
| 13:30 - 15:30 | Session on "India's capital controls" Chairman: Subir Gokarn, Standard and Poors One way bets on pegged exchange rates, [paper] [slideshow] Ila Patnaik, NIPFP Discussant: Michael Hutchison, UC Santa Cruz [slideshow] India's capital controls, Nirvikar Singh, UC Santa Cruz [slideshow] Discussant: Sergio Schmukler, World Bank. [slideshow] |
| 16:00 - 18:00 | Session on "Exchange rates" Chairman: Suman Bery, NCAER Exchange rate pass-through, [paper] [slideshow] Rudrani Bhattacharya, NIPFP Discussant: Mandira Sarma, ICRIER Choice of exchange rate regime, [paper] [slideshow] Atish Ghosh, IMF Discussant: Ila Patnaik, NIPFP [slideshow] |
| 19:00-21:00 | Cocktails followed by dinner. |
28 March 2008
| 9:30 - 10:00 | Coffee and snacks |
| 10:00 - 13:30 | Session on "Internationalisation of firms" Chairman: Sindhushree Khullar, Ministry of Finance Outbound FDI from India, [slideshow] Jaya Prakash Pradhan, ISID, New Delhi Is emerging market money smart?, [paper] [slideshow] Anusha Chari, University of Michigan Discussant: Nirvikar Singh, UC Santa Cruz [comments] Graduating to globalisation, [paper] [slideshow] Dilek Demirbas, Newcastle Business School. Discussant: Shubhashis Gangopadhyay, Ministry of Finance What makes home bias abate?, [paper] [slideshow] Ajay Shah, NIPFP Discussant: Anusha Chari, University of Michigan. [slideshow] |
| 13:30-14:30 | Lunch |
| 14:30 - 17:30 | Session on "Tales from the trenches: What practitioners see" Chairman: K. P. Krishnan, Ministry of Finance Foreign capital for SMEs, [slideshow] Vipul Dalal, Elara Capital Implications of capital controls for domestic capital markets, [slideshow] Jayesh Mehta, DSP Merill Lynch Internationalisation of trading, Ravi Narain, National Stock Exchange |
| 19:00-21:00 | Cocktails followed by dinner. This is at the poolside. |
1st Research meeting, 4-5 December 2007
Photographs from the meeting. If you click on any of the images, you get the fullres underlying file.
4 December 2007
Venue: NIPFP, except for dinner.
| 10:00-10:45 | Inaugural session Welcome address, M. Govinda Rao, NIPFP. Inaugural address, C. Rangarajan, Chairman, EAC to the Prime Minister Introductory remarks, Sindhushree Khullar, Ministry of Finance. |
| 10:45-11:00 | Coffee |
| 11:00-13:15 | Session on "Exchange rate regimes and capital controls" Chairman: Percy Mistry, Oxford International Group Structural change and exchange rate regimes, [paper], [slideshow], Achim Zeileis, Vienna University of Economics and Business Administration Discussant: Ramkishen Rajan, George Mason University, [slideshow] Exchange rate regimes and unhedged currency exposure, [paper], [slideshow] Ila Patnaik, NIPFP Discussant: Barry Eichengreen, UC Berkeley, [slideshow] De facto convertibility, [paper], [slideshow] Gurnain Pasricha, UC Santa Cruz Discussant: Sergio Schmukler, World Bank, [slideshow] |
| 13:15-14:15 | Lunch |
| 14:15-15:45 | Session on "Internationalisation of shareholding" Chairman: K. P. Krishnan, Ministry of Finance Which firms from which countries go global?, [paper], [slideshow] Sergio Schmukler, World Bank Discussant: Rajesh Chakrabarti, ISB, [slideshow] Foreign ownership of Indian firms, [paper], [slideshow] Ajay Shah, NIPFP Discussant: Jayanth Varma, IIM, Ahmedabad |
| 16:00-17:30 | Session on "Monetary policy in China and India" Chairman: R. C. Srinivasan, Ministry of Finance Exchange rate pass-through in India, [paper], [slideshow] Ramkishen Rajan, George Mason University Discussant: Rudrani Bhattacharya, NIPFP The Chinese macroeconomic policy framework, [paper], [slideshow] Eswar Prasad, Cornell University Discussant: Ila Patnaik, NIPFP [slideshow] |
| 19:30-20:30 | Distinguished speaker: Barry Eichengreen, U. California, Berkeley Chairman: Montek Ahluwalia, Planning Commission. "The cautious case for capital flows", [paper], followed by dinner. Venue: Assocham Hall which is 47, Prithviraj Road. |
5 December 2007
Venue: NIPFP.
| 9:30-10:00 | Coffee |
| 10:00-13:00 | Session on "Capital controls and capital flows" Chairman: Suman Bery, NCAER Private equity, Sanjeev Sanyal, Deutsche Bank, [slideshow] Participatory notes, Dominique Dwor-Frecaut, ABN Amro, [slideshow] Participatory notes / ODIs, Jayanth Varma, IIM, Ahmedabad, [slideshow] The NDF market, Rajesh Chakrabarti, ISB, [slideshow], [note] Capital controls: a free lunch?, Josh Felman, IMF [slideshow] Capital flows in Asia, Rob Subbaraman, Lehman Brothers, [slideshow] |
| 13:00-14:00 | Lunch |