Vijay Joshi is Emeritus Fellow of Merton College, Oxford. His main areas of interest are Macroeconomics, International Economics and Development Economics, and he has published widely in these fields in scholarly journals and elsewhere. His most recent book is India’s Long Road - The Search for Prosperity ( Penguin Random House, New Delhi, 2016 and Oxford University Press, New York, 2017). His previous books (jointly with I.M.D. Little) include India’s Economic Reforms 1991-2001, (Oxford University Press, 1996) and India – Macroeconomics and Political Economy 1964-1991, (World Bank and Oxford University Press, 1994).
He has served as Economic Adviser, Ministry of Finance, Government of India and Special Adviser to the Governor, Reserve Bank of India. He was a director of the J.P.Morgan Indian Investment Trust from 1996 to 2012. He has also worked as a consultant to various international organizations, including the World Bank.
India: The Future of Economic Reform (with Robert Cassen), Oxford University Press, 1995. Pp 374. ISBN 0-19-563719-4. This volume brings together papers on India’s structural adjustment presented at an international conference organised by
Robert Cassen and Vijay Joshi at Oxford in 1993.
Articles and Papers
“Ian Malcolm David Little” (with C. Bliss), in Biographical Memoirs of Fellows of the British Academy, Vol. XIII, The British Academy, 2014.
“India and the World Economy” (with D. Kapur) in D. Davin and B. Harriss-White (eds.) China-India: Pathways of Economic Development, Oxford University Press, 2014.
“India’s Globalization”, in J. Johnson and R. Kumar (eds.), Reconnecting Britain and
India, Academic Foundation, 2011.
“Economic Resurgence, Lopsided Reform and Jobless Growth”, in A. Heath and R. Jeffrey (eds.), Diversity and Change in Modern India: Economic, Social and Political Approaches, Oxford University Press, 2010.
“Keynes, Global Imbalances and International Monetary Reform Today” (with Robert Skidelsky), in S.Claessens, S. Evenett, and B. Hoekman (eds.), Rebalancing the Global Economy, Vox , Vox.eu.org, 2010.
“Comment on Arvind Panagariya, ‘India’s Climate Change Challenge and Policy Response’”, in S. Bery, B. Bosworth and A. Panagariya (eds.) India Policy Forum 2009/10, Brookings Institution and NCAER, Sage Publications, 2010.
“India and Climate Change Mitigation” (with Urjit Patel) in D. Helm and C. Hepburn (eds.), The Economics and Politics of Climate Change, Oxford University Press, 2009
“India and a Carbon Deal” (with Urjit Patel), in Economic and Political Weekly Vol. 44, No. 31, 2009.
“ Comment on Abhijit Sengupta, ‘The Cost of Holding Excess Reserves: Evidence
from India’”, in S.Bery, B.Bosworth and A.Panagariya (eds.) India Policy Forum 2008/9, Brookings Institution and NCAER, Sage Publications, 2009.
“How to Share the Burden of Combating Climate Change”, in Vox, Vox.eu.org, 2009.
“A New Bretton Woods System Should Curb Boom and Bust” (with David Vines), in B.Eichengreen and R.Baldwin (eds.) What G-20 Countries Must Do to Stabilize Our Economy and Fix the Financial System, Vox, Vox.eu.org, 2008.
“Convertibility Now?” in Rajiv Kumar (ed.), India and the Global Economy, Academic Foundation, New Delhi 2008.
“Reforma economica en India” in Boletin Informativo Techint, Buenos Aires 2006.
“Real Exchange Rate, Fiscal Deficits and Capital Flows: Refutation Again” in Economic and Political Weekly Vol. 41(5), 2006.
“Prisoners’ Dilemma and City-Centre Traffic”(with Mary Sissons Joshi and Roger Lamb) in Oxford Economic Papers, Vol.57(1), 2005.
“Exchange rates and Capital Controls in Developing Countries” in M. Uzan (ed), The Future of the International Monetary System, Edward Elgar, 2005.
“Foreign Inflows and Macroeconomic Policy in India”, in S. Bery, B. Bosworth and A. Panagariya (eds.), India Policy Forum Vol.I 2004, Brookings Institution and NCAER, Sage Publications, 2004.
“The Real Exchange Rate, Fiscal Deficits and Capital Flows: A Refutation”, Economic and Political Weekly, Vol.39 (13), 2004.
“One World?”(with Robert Skidelsky), New York Review of Books, March 25, 2004.
“India and the Impossible Trinity”, The World Economy, Vol.26 No.4, 2003.
“Exchange Rate Regimes – Is There a Third Way?” World Economics Vol.4 No.4, 2003.
“Capital Account Convertibility and the National Interest: Has India Got it Right?” in Geoffrey Underhill and Xiaoke Zhang, International Financial Governance under stress, Cambridge University Press 2003.
“Capital Controls and the National Advantage: India in the 1990s and Beyond” in Oxford Development Studies, Vol.29, No.3. 2001.
“India’s Economic Reforms: Progress, Problems, Prospects” in Oxford Development Studies , Vol.26, No.3. 1998.
“Fiscal Stabilisation and Economic Reform in India” in I.J. Ahluwalia and I.M.D. Little (eds.), India’s Economic Reforms and Development: Essays in honour of Manmohan Singh, Oxford University Press, 1998.
“India – Reform on Hold” (with I.M.D. Little), in Asian Development Review, pp.1-42, Vol.15 No.2, 1997.
“Macroeconomic Management in India” (with I.M.D. Little) in V.N. Balasubramaniam and David Greenaway (eds.), Trade and Development: Essays in Honour of Jagdish Bhagwati, Macmillan, 1996.
“India’s Transition: Progress, Problems, Prospects” in C.H. Hanumantha Rao and Hans Linemann (eds.), Economic Reforms and Poverty Alleviation in India, Sage Publications, New Delhi, 1996.
“Macroeconomic Stabilisation in India, 1991 to 1993 and beyond” (with I.M.D. Little), in Robert Cassen and Vijay Joshi, India: The future of Economic Reform, Oxford University Press, 1995. (The article originally appeared in Economic and Political Weekly, December 1993.)
“Future Trade and Exchange Rate Policy for India” (with I.M.D. Little), in Robert Cassen and Vijay Joshi, India: The Future of Economic Reform (Oxford University Press, 1995). (The article originally appeared in Economic and Political Weekly, July 1993.)
“Introduction” (joint with Robert Cassen) in Robert Cassen and Vijay Joshi, India: The Future of Economic Reform ,Oxford University Press, 1995
“Macroeconomic Policy and Economic Reform in India”, Exim Bank Lecture Bombay 1994, reprinted in K. Banerji and T. Vakil, India: Joining the World Economy, Tata McGraw Hill, 1995
“Democracy and Development in India” in The Round Table Vol. 333, January 1995
Entries on “Exchange Rate Mechanism” and “European Monetary Union” in Encarta, Websters Microsoft CD-Rom encyclopaedia, 1995
“Stabilisation and Structural Reform in India” (with R. Cassen and M. Lipton) in Contemporary South Asia Vol. 2, No. 2, 1993. Pp 165-198.
“Faster Growth in India: Facts and a Tentative Explanation” (with S. Bhargava), Economic and Political Weekly, December 1990.
“Indian Macroeconomic Policies” (with I.M.D. Little) in G. Calvo, R. Findlay, P. Kouri and J.B. de Macedo (eds.) Debt, Stabilisation and Development, Basil Blackwell, 1989.
“Exchange Rate Policy in Developing Countries” (with P. Collier), Oxford Review of Economic Policy, Autumn 1989.
“Exchange Rate Regimes in Developing Countries” in M.FG. Scott and D. Lal (eds.), Public Policy and Economic Development, Oxford University Press, 1990.
“Les Politiques Macroéconomiques Indiennes” (with I.M.D. Little) in Revue Tiers Monde, December 1989.
“Exchange Rate Protection and Exchange Rate Conflict” (with Christopher Bliss), Oxford Economic Papers, June 1988.
“The International Debt Crisis”, (with C. Allsopp) Oxford Review of Economic Policy, Spring 1986.
“Nominal and Real Exchange Rate of the Indian Rupee 1971-83”, Reserve Bank of India Occasional Papers, June 1984
“Development Finance in the Nineteen Eighties” in S. Al Shaikhly (ed.), Development Financing, Frances Pinter 1982.
“International Adjustment in the Nineteen Eighties”, World Bank Staff Working Paper No. 485. This was a background paper for the World Bank’s World Development Report, 1981.
“Enough to eat?” (A review of Amartya Sen’s Poverty and Famines) Vol.3, No.21, London Review of Books, 1981.
“Alternative Strategies for the U.K.” (with C. Allsopp), National Institute Economic Review, February 1980.
“Exchange Rates, International Liquidity and Economic Development”, World Economy, May 1979.
“Domestic Distortions, Income Distribution and the Theory of Optimum Subsidy” (with Sudhir Anand), Economic Journal, June 1979.
“India’s Export Incentive System”, Industry and Development, March 1979.
“Distributive Justice and the New International Order: A Comment” in P. Oppenheimer (ed), Issues in International Economics, Oriel Press, London, 1978.
“The Rationale and Relevance of the Little-Mirrlees Criterion”, Bulletin of the Oxford Institute of Economics and Statistics, March 1972.
“Foreign Trade and Investment Criteria” in W.A. Eltis and M.FG. Scott (eds.), Induction. Growth and Trade, Oxford University Press, 1970.
“Saving and Foreign Exchange Constraints” in P.P. Streeten (ed.), Unfashionable Economics, Weidenfeld and Nicholson, 1970.
“Foreign Exchange Bottleneck or Unwillingness to Save?”, Economic and Political Weekly, March 1967.
Selected Articles in newspapers and magazines
“Should the Private Sector Produce Public Goods?”, in Business Standard, 16.8.16
“Two Years of Modi: An Economic Assessment”, Business Standard, 15.7.16
“How to Abolish Extreme Poverty”, Business Standard, 27.6.16
“Pranab Bardhan’s Ideas of India”, Business Standard, 13.10.15
“Currencies: A State of Conflict”, in Mint 28.10.10
6 . “Burden-Sharing Made Simple”, in Prospect 21.10.09
“Towards a New World Money”, Business Standard 21.4.09.
“Convertibility Now? No, Thanks”, Hindustan Times 2.4.07.
“Why we need to rethink the exchange rate system”, Financial Times 15.12.06.
“Foreign exchange for Infrastructure: the basic issues”, Business Standard 2.2.05.
“Myth of India’s outsourcing boom, Financial Times 16.11.04.
“Achilles’ Heel of Economic Strategy”, Business Standard 2.9.04.
“India’s Demographic Opportunity”, Business Standard 9.9.03.
“How to respond to foreign inflows”, Business Standard 17.7.03.
“Exchange rate policy, past and future”, Business Standard 3.7.03.
“India’s next steps”, Prospect February 1998.
“Indian path to reform”, Financial Times 11.8.1997.