Unfounded Fears
“Fears that liberalisation will destroy our companies were proved wrong,” points out the Indian Express. “Now we fear FDI in retail.” We need not, of course. No more than we need fear the sun.
September 3, 2005
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I wonder if any of the authors are qualified economists ? (except Atanu) The articles are just picked from “non ecnomic” sources and pasted here dont make much use for the readers of the blog.
Does any of the authors know how much Indian GDP will shrink if crude raises 1$ in NYMEX ?
Does any of the authors work with academcia and have anything valid to SAY or INFER
OR is this just a CUT N PASTE of various paraphrenalia from the web ?
Please Clarify !!
Comment by Lingesh Murthy — September 4, 2005 @ 6:35 am
Lingesh
What exactly should we “clarify”? [grin]
If you have anything to say regards the ideas/ content on our web site, would love to hear it.
Also suggest you read this post, and the essay linked therein…http://indianeconomy.org/2005/08/20/on-armchair-arguments/#comment-86
Comment by Prashant Kothari — September 4, 2005 @ 11:38 am
Hi Lingesh,
I am a Filipino economist who likes to surf Asian blogs.
I’m certain Indian GDP will not literally “shrink” as international crude oil prices increase. I can’t think of any economy that will.
What I can say is that economic growth will be reduced. And nobody can say how much for certain, whether after the fact (given past increases in oil prices) or before the fact (anticipating future increases in oil prices.) Some crude (pun intended) estimates can be made, based on macroeconomic models. In the Philippines the national planning authority estimates a 0.1 percentage point reduction in GDP growth for every 10$ increase per barrel of Dubai crude. I have another macromodel that says much less than that. I can’t think of any macromodel that will say 5% or even just 1%. And the Philippines is a country that imports most of its fuel requirements.
Comment by Roehl Briones — September 4, 2005 @ 7:51 pm