Business & Economics Books:

Critique of the New Consensus Macroeconomics and Implications for India

Customer rating

Click to share your rating 0 ratings (0.0/5.0 average) Thanks for your vote!

Share this product

Critique of the New Consensus Macroeconomics and Implications for India by Dilip. M. Nachane
Save $121.00
$188.99 was $309.99
or 4 payments of $47.25 with Learn more

Pre-order to reserve stock from our first shipment. Your credit card will not be charged until your order is ready to ship.

Available for pre-order now
Pre-order Price Guarantee

If you pre-order an item and the price drops before the release date, you’ll pay the lowest price. This happens automatically when you pre-order and pay by credit card.

If paying by PayPal or internet banking, and the price drops after you have paid, you can ask for the difference to be refunded. Find out more

If Mighty Ape's price changes before release, you'll pay the lowest price.


This product will be released on

Delivering to:

It should arrive:

  • 15-19 November using standard courier delivery


The thought-provoking book presents alternative viewpoints to mainstream macroeconomic theory, questions conventional policy wisdom and suggests a systematic re-orientation of current macroeconomic and financial regulatory policies in India. The New Consensus Macroeconomics (NCM), which established itself in the 1980s as mainstream macroeconomics, essentially represents an "uneasy truce" between two dominant schools of economic thought viz. New Classical and Neo-Keynesian economics. The NCM sets the tone for much of the macroeconomic (especially monetary) policy followed by the advanced economies in the period of the Great Moderation (1990-2005). The recent global crisis has posed a major challenge to the NCM as empirical models based on the NCM failed to anticipate the occurrence of the crisis and later its extent and severity. The above considerations constitute the underpinnings of this book, which addresses the theoretical controversies within a general context and their policy implications for India. The authors' analysis leads to a somewhat critical assessment of the financial sector policies followed in India since the initiation of reforms in 1991. This makes the book a valuable resource not only for researchers working in this area, but also for policy makers.

Author Biography

Dilip Nachane is currently Chancellor, University of Manipur, Imphal, India; Professor Emeritus, IGIDR (Indira Gandhi Institute of Development Research), Mumbai, India; National Fellow, Indian Council of Social Science Research (ICSSR); Honorary Fellow, Institute of South Asian Studies (ISAS), National University of Singapore; and Honorary Fellow, Indian School of Political Economy, Pune, India. He has earlier served as Director, Department of Economics, University of Mumbai (1993-99); Vice Chancellor, IGIDR (2007-10); Visiting Professor, University of British Columbia, Vancouver, Canada (1988-89); Visiting Professor, University of Ulster, U.K. (1991-92); Hallsworth Fellow, University of Manchester, U.K. (1987-88); and Fulbright Fellow, University of Texas at Austin, USA (1982-83). He has served on several official committees such as Technical Advisory Committee on Monetary Policy, Reserve Bank of India (2005-11), and Member, Vijay Kelkar Committee on Regional Imbalances in Maharashtra (Govt. of Maharashtra, 2011 onwards). He was elected President of the Indian Econometric Society (TIES) 2002-03. He has been continuously listed in Marquis` International Who's Who for the last 15 years. For his outstanding contributions to research and teaching of Economics in India, he received the UGC Pranavananda Saraswati Award for Best Teacher in Economics, 2004. He has published the following book with the Oxford University Press, `India Econometrics: Theoretical Foundations' and `Empirical Perspectives'. He has also edited/co-edited 7 volumes including the `India Development Report 2011'. He is currently the Editor-in-Chief of the Journal of Quantitative Economics (Springer), and a Co-editor of Macroeconomics and Finance in Emerging Market Economies (Taylor and Francis).
Release date Australia
November 13th, 2018
Country of Publication
1st ed. 2018
24 Illustrations, black and white; XIX, 399 p. 24 illus.
Springer, India, Private Ltd
Product ID

Customer previews

Nobody has previewed this product yet. You could be the first!

Write a Preview

Help & options

  • If you think we've made a mistake or omitted details, please send us your feedback. Send Feedback
  • If you have a question or problem with this product, visit our Help section. Get Help
  • Seen a lower price for this product elsewhere? We'll do our best to beat it. Request a better price
Filed under...