Prof. Sebastian Morris



Stemming The Hollowing Out Of Manufacturing

Monetary targeting, which is the RBI’s way, is quite unsuitable in today’s environment of vastly asymmetric growth and capital flows. The belief that money supply determines the inflation rate was never quite true in the linear fashion that seems to

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Putting Forex Reserves To Good Use

Government spending cannot directly affect the level of reserves, unless the Reserve Bank of India adopts a policy of killing exports and inflows by allowing the rupee to appreciate and imports to flood the market. Even that would take time to work on the reserv

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Why Punish The Users Of National Highways?

Our cities are built with very low densities (floor space indices) means that they are unable to take on the correct spatial orientation of economic activities. This, of course, makes them socially expensive, and much more spread out than they need to be.

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Petroleum: Remove Price Control, Reform Taxes

The administered pricing mechanism (APM) for oil products was dismantled in April 2002. But the nightmare continues for oil companies, investors, consumers and even the government. At least the APM had a ‘logic’, however questionable. To call what we

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