Ajay Shah writing for the mass media (2017)
- Resolution Corporation: The 3rd element of the exit framework, exit frameworks, SARFAESI, IBC, FRDI Bill, bail-in.
- Measuring the drama in the economy, 26 November 2017. kw = demonetisation, GST, business cycle conditions, measurement, seasonal adjustment.
- How can we deter crime?, 13 November 2017. kw = deterrence, probability of getting caught, big punishments, estimating the ill-gotten gain, financial regulation, SEBI, load bearing, organisational rout, productivity gains, man days per conviction, crime victimisation survey.
- Principles to guide bank bailouts, 30 October 2017. kw = how to analyse demands for taxpayer resources to bail out banks. Big bazookas. Metis. UTI crisis and response.
- Three page notes considered harmful, 16 October 2017. kw = policy process, EM versus developing country, teams in public policy, policy theatre.
- Insolvency and Bankruptcy Code: The only way out is through, 2 October 2017. kw = IBC, low recovery rates, old vs fresh defaults, promoters with the highest bid, home buyers, SEBI forcing disclosures, Nine areas for work.
- A great churning, 17 September 2017. kw = GST, tax compliance, low productivity firms, inefficient vertical integration, zombie firms, IBC, banking crisis, resolution corporation, reallocation of capital and labour, frictions, internal devaluation, implementation teams on four fronts: GST, IBC, RBI reform, RC, scenario for triumph or decade-long stagnation.
- What shapes investment?, 4 September 2017. kw = when will investment resurge, capacity utilisation, profitability, cost of capital, financing constraints, expectations about economic reforms and GDP growth, trust in institutions.
- Should we recapitalise the banks?, 21 August 2017. kw = banking crisis, requirement of resources for bank recapitalisation, fiscal space, optimal use of public funds, market dominated financial system, estimating the shortfall, reforms in non-bank reforms, solving problems at the root cause.
- Elements of the recovery, 7 August 2017. kw = the 2002 turning point of the business cycle, exit of firms, productivity gains of firms, respect of the Indian policy establishment, external demand, zombie firms, privatisation, resolution corporation.
- Strategic thinking in financial markets policy, 24 July 2017. kw = SEBI discussion paper, individual investors, consumer protection, FSLRC, research on consumer protection, seasoned participants, objectives of financial markets policy, equity market.
- The buy side in the bankruptcy process, 10 July 2017. kw = strategic buyers, private equity funds, distressed debt funds, buying going concern, buying in liquidation, lemon model, recovery rates, old defaults vs. new defaults.
- Beware of premature load bearing, 26 June 2017. kw = load in public administration, transactions, discretion, stakes, BLRC bankruptcy reform, 12 big cases, GST, tax administration, architecture vs. implementation.
- Firms are fearful as uncertainty has gone up, 12 June 2017. kw = risk, uncertainty, new policy elite, engagement with the policy process, adjustment by firms, decline in investment, corruption, rule of law.
- The task of MOF, 29 May 2017. kw = macro stability, private sector confidence and investment, fiscal, financial, monetary institutions.
- Does the ordinance solve the banking crisis?, 15 May 2017. kw = Ordinance that amended the Banking Regulation Act, RBI reforms, bureaucrats making commercial decisions.
- Why FRBM failed, 1 May 2017. kw = fiscal soundness, FRBM, money bills, financial repression, PDMA.
- How can ARCs help solve the banking crisis?, 17 April 2017. kw = ARC, rationale for regulation, banking regulation, distressed debt funds.
- Market power in the new economy, 2 April 2017. kw = network effects, e-commerce, competition policy, CCI, financial capital versus human capital.
- Trump's benevolence, 20 March 2017. kw = body shopping, true offshoring, Indian software, H1b visa.
- Strategy for dealing with the banking crisis, 6 March 2017. kw = merger of PSU banks, big PSU bad bank, budget process, opening up to non-bank finance, capital account liberalisation, NBFCs, bond market, ARCs, RBI reform.
- The agenda at SEBI, 20 February 2017. kw = liquidity, market efficiency and international competitiveness of the Indian financial system, difficulties of SEBI, legislative executive and quasi-judicial process, organisation design.
- What ails the economy?, 6 February 2017. kw = stagnant investment, diagnosis, cure, infrastructure, balance sheet stress, banking crisis, investigation agencies, bankruptcy reform, tax administration.
- A conservative budget that comes up short, 2 February 2017. kw = budget 2017, erratic policy making, reigniting growth.
- RBI independence: finding the middle ground, 23 January 2017. kw = financial agencies, board, governance, MPC, licensing, investigations, monetary policy instruments.
- Strategy for 2017, 9 January 2017. kw = business cycle conditions, demonetisation shock, fiscal policy, monetary policy, economic reforms as a counter-cyclical strategy.
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