Ajay Shah and Ila Patnaik. India’s experience with capital flows: The elusive quest for a sustainable current account deficit. In Sebastian Edwards, editor, Capital controls and capital flows in emerging economies: Policies, practices and consequences, chapter 13, pages 609–643. The University of Chicago Press, 2007
Ajay Shah. Improving governance using large IT systems. In S. Narayan, editor, Documenting reforms: Case studies from India, pages 122–148. Macmillan India, New Delhi, 2006 [pdf]
Ajay Shah. Indian pension reform: A sustainable and scalable approach. In David A. Kelly, Ramkishen S. Rajan, and Gillian H. L. Goh, editors, Managing globalisation: Lessons from China and India, chapter 7. World Scientific, 2006 [pdf]
Raghuram Rajan and Ajay Shah. New directions in Indian financial sector policy. In Priya Basu, editor, India’s financial sector: Recent reforms, future challenges, chapter 4, pages 54–87. Macmillan, 2005 [pdf]
Ajay Shah. Issues in pension system reform in India. In Priya Basu, editor, India’s financial sector: Recent reforms, future challenges, chapter 11, pages 205–224. Macmillan, 2005
Ajay Shah and Susan Thomas. Equity derivatives in India: The state of the art. In Susan Thomas, editor, Derivatives markets in India 2003, chapter 1, pages 1–25. Tata McGraw–Hill, 2003
Ajay Shah. Market efficiency on the Indian equity derivatives market. In Susan Thomas, editor, Derivatives markets in India 2003, chapter 5, pages 99–119. Tata McGraw–Hill, 2003
Ajay Shah and Susan Thomas. Policy issues in Indian securities markets. In Anne Krueger and Sajjid Z. Chinoy, editors, Reforming India’s External, Financial and Fiscal Policies, Stanford Studies in International Economics and Development, chapter 4, pages 129–147. Stanford University Press, 2003 [pdf]
Ajay Shah and Susan Thomas. Securities market efficiency. In James A. Hanson, Patrick Honohan, and Giovanni Majnoni, editors, Globalization and national financial systems, chapter 6, pages 145–175. The World Bank and Oxford University Press, 2003 [pdf]
Susan Thomas and Ajay Shah. Interest rates and their markets. In Kirit Parikh and R. Radhakrishna, editors, India Development Report 2002, chapter 12, pages 177–194. Oxford University Press, 2002
Ajay Shah and Kshama Fernandes. The relevance of index funds for pension investment in equities. In Robert Holzmann and Joseph Stiglitz, editors, New Ideas About Old Age Security: Toward Sustainable Pension Systems in the 21st Century. World Bank, January 2001 [pdf]
Ajay Shah. Overview for ‘Part II: Financial Sector Reforms’. In Gangadhar Darbha, editor, India’s monetary policy in the crucible of reform: The collected speeches of Savak S. Tarapore (1992–1996), pages 119–122. Vision books, 2000
Ajay Shah and Susan Thomas. Policy issues in India’s capital markets in 2000. In Surjit S. Bhalla, editor, New economic policies for a new India, chapter 9, pages 185–210. ICSSR, February 2000 [pdf]
Ajay Shah. Equity derivatives in India. In L. C. Gupta, editor, India’s financial markets & institutions, chapter 22, pages 196–214. Society for Capital Market Research and Development, October 1999
Kirit S. Parikh and Ajay Shah. Second generation reforms. In Kirit S. Parikh, editor, India Development Report 1999-2000, chapter 2, pages 25–34. Oxford University Press, 1999 [pdf]
Susan Thomas and Ajay Shah. Risk and the Indian economy. In Kirit S. Parikh, editor, India Development Report 1999-2000, chapter 16, pages 231–242. Oxford University Press, 1999
Ajay Shah and Susan Thomas. Rethinking prudential regulation. In Kirit S. Parikh, editor, India Development Report 1999-2000, chapter 17, pages 243–255. Oxford University Press, 1999
Ajay Shah and Susan Thomas. Developing the Indian capital market. In James A. Hanson and Sanjay Kathuria, editors, India: A financial sector for the Twenty–first century, chapter 7, pages 205–265. Oxford University Press, 1999
Ajay Shah. Securities markets. In Bibek Debroy and Parth J. Shah, editors, Agenda for Change, chapter 1, pages 1–10. Rajiv Gandhi Institute for Contemporary Studies, April 1998
Ajay Shah. The impact of convertibility upon India’s fund industry. In Susan Thomas, editor, The future of fund management in India, chapter 3, pages 23–34. Tata McGraw Hill, 1998
Ajay Shah. The institutional development of India’s financial markets. In Tushar Waghmare, editor, The future of India’s stock markets, chapter 3, pages 21–39. Tata McGraw Hill, April 1998
Ajay Shah and Susan Thomas. Strengthen institutions for domestic markets. In Perspectives on international financial liberalisation, Responses to discussion paper 12 “International financial liberalization: Implications for development” by John Eatwell. UNDP Office of Development Studies, April 1998
Ajay Shah and Susan Thomas. Securities markets. In Kirit S. Parikh, editor, India Development Report 1997, chapter 10, pages 167–192. Oxford University Press, February 1997
Ajay Shah. Telecommunications. In Kirit S. Parikh, editor, India Development Report 1997, chapter 13, pages 239–250. Oxford University Press, February 1997
Ajay Shah, editor. The Future of India’s Stock Exchanges: Proceedings of Stock Exchanges Summit 1996. Invest India Economic Foundation, 1996