A Study on Currency and Coinage Circulation in India (original) (raw)

Definitions and Measures of Money Supply In India

2010

A major part of this paper is literature review. The paper compiles in a nutshell all studies on definitions and measures of Money supply in India in a chronological yet logically consistent manner In doing so, alternative measures of money supply have been compared in this ...

Determination of Money Supply in India: The Great Debate

This paper narrates great debate revolving the issue of balance sheet analysis vis-à-vis multiplier theory during the 1970s in India between official economists and others led by S B Gupta. The final version of this paper is published as chapter 3: pages 39-56, in 'Monetary History of India: Forecasting Perspective of Central Banks and Economists', authored by Rituparna Das, publisher: Verlag Dr. Müller, Saarbrücken., ISBN: 13:978-3639269475

An Analysis of the Nature of Money Supply in India & Its Expected Causes

International Journal For Multidisciplinary Research

Money supply refers to the aggregate of money circulating in an economy. It is an important macroeconomic variable responsible for significant changes in an economy. The study is significant for different stakeholders such as policy-makers, investigators, researchers, and educational institutions etc. The study would also help in determining the lump-sum earnings in the hands of people. The study focuses on the fluctuations in money supply after implementation of PM Jan-Dhan Yojana i.e. August, 2014. The study also elaborates the conceptual understandings and theoretical relations of money supply with significant factors regarding money supply fluctuations in India. For the analytical study, the quantitative information regarding money supply i.e. reserve money & broad money have been gathered from different research articles, weekly, monthly & annual publications, and different authentic sources etc. After analyzing the gathered data with the help of trend analysis & descriptive st...

An Outline of the Existing Literature on Monetary Economics in India

This paper contains review and analysis of the research works on money supply in India till 2005 in light of western monetary economics literature. As per the researchers on monetary economics, a detailed account of the changing role of money from Walrasian and Non-Walrasian settings to the more recent theories on the dynamics of the relationships between money, inflation and growth with reference to their historical evolution are available in Friedman et al. ed. (1998) and such type of theoretical work did not happen in India. There is a tendency among the Indian researchers to apply the theories developed abroad to up to date empirical data in econometrics models and then, with the help of econometric techniques and compare the results. For example Dash and Goal (2001) applied the theory of Foster (1992) and Chona (1976) applied the theory of Ahrensdorf and Thasan (1960). This paper dealt with such applications, their lacunae and attempts to resolve the issues unaddressed till 2005. The final version of the paper is published as pages 22-38 of Chapter 2 in Monetary History of India: Forecasting Perspective of Central Banks and Economists, Saarbrücken: Verlag Dr. Müller (2010), ISBN-13:978-3639269475, authored by Rituparna Das

Forecasting Money Supply in India: Remaining Policy Issues

This article analyzes the issues, unaddressed in the contemporary econometric literature on forecasting money supply in India, with the help of the relevant studies. In doing so there is an attempt to ascertain what could be the best fit model to forecast money supply in India. The final version of the article is published as Chapter 7 in the book 'Monetary History of India: Forecasting Perspective of Central Banks and Economists', Saarbrücken: Verlag Dr. Müller (2010), ISBN-13:978-3639269475, pp 112-117. DOI: 10.13140/RG.2.1.3008.0169

History Research Journal The Historic View of the Indian Currency and Paradigms

__________________________________________________________________________________ Abstract: This article involves the Historic perspective on Indian currency, fundamental objective of the article is to follow the historical backdrop of Indian currency in Mughal, British and present day time frame. The primary goal of the article is to reflect noteworthy perspective on Indian currency and its paradigms.

Policy Reforms and Stability of the Money Demand Function in India

The traditional policy regimes need to be re-examined in the wake of the fast-emerging globalised world economy. This is particularly true in the case of developing economies and more so when it comes to monetary policy. This is because of the growing link between domestic money and fi nancial markets on the one hand and the foreign exchange market on the other. A central building block in this context is the money demand function which must be stable and able to provide adequate linkages for policy formulation. This is the focus of this exercise as it attempts to relate the demand for real stock of money to the exchange rate, and to other familiar variables like rate of infl ation, interest rate and the level of economic activity. The results are signifi cant from the policy point of view under the new economic policy regime.

The Empirical Verification of Money Demand in Case of India: Post-Reform Era

SSRN Electronic Journal

In the evident of globalised world economy and changing economic structure, the traditional policies are required to be close examination. This is true particularly in case of developing countries, like India where new economic policies have had been changing visibly since 1990s. Therefore, in the new economic policy regime one of the important building block of policy is the money demand, which needs to be examined again. Present study examines the stability issues of money demand in case of India, using quarterly data from 1996:Q2 to 2016:Q3. With the help of autoregressive distributed lag model (ARDL) or bounds testing approach of cointegration, it has been concluded that there exists stable long run relationship among variables under consideration in the post reform period.

Relationship Between Money Supply, Output and Prices in India: An Econometric Exercise

There have been a lot of controversies, disagreements and puzzles whether money supply has an impact on prices and output or not. This paper is an attempt to study both the short and the long run relationships between money supply, output and prices in India. Pesaran Bound Testing methodology followed by Autoregressive Distributive Lags Models is employed to find the results. The results are in line with the Neoclassicals and Monetarists and suggest that money supply strongly affects output and prices in the short run, while in long run it only affects prices and has no significant impact on output. This shows the neutrality of money supply in the long run. Thus, monetary policy has limited implications to enhance long run economic growth in India. If inflation is to be controlled, output must be increased.