Sengupta Rajeswari

Sengupta Rajeswari

Office Telephone : +91-22-28416542
Email id : rajeswari@igidr.ac.in
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Rajeswari Sengupta’s research focuses on policy-relevant issues of emerging economies in general and India in particular, in the fields of international finance, open economy macroeconomics, monetary policy, banking, economic measurement and financial markets. She has recently been exploring several issues pertaining to the Indian economy such as different aspects of the macroeconomic trilemma, analysing monetary policy communication of the Reserve Bank of India, monetary policy transmission channels, issues in the measurement of Indian GDP, productivity issues in the banking sector, the twin balance sheet crisis in the banking and corporate sectors, and the financial constraints faced by Indian firms. She was a member of the research secretariat to the Bankruptcy Law Reforms Committee that drafted India's Insolvency and Bankruptcy Code (IBC, 2016).

In the past she has held research positions at the Institute for Financial Management and Research (IFMR) in Chennai, San Francisco Federal Reserve, the World Bank, the International Monetary Fund (IMF) in Washington DC and Reserve Bank of India, Delhi. She has published in reputed international journals such as Economic Policy, Journal of International Money and Finance, The World Economy, Emerging Markets Review, Pacific Economic Review, Open Economies Review as well as the Economic and Political Weekly in India. She has also written chapters in various books published by the Asian Development Bank, G20, the Centre for International Governance Innovation (CIGI), among others.

Dr. Sengupta completed her M.A. and Ph.D. in Economics from the University of California, Santa Cruz (UCSC). She holds two previous degrees in Economics from India, a Bachelors degree from Presidency College, Calcutta and a Masters from Delhi School of Economics.

JOURNAL PUBLICATIONS

 

WORKING PAPERS

  • "Productivity growth in Indian banking: Who did the gains accrue to?," (with Harsh Vardhan), Indira Gandhi Institute of Development Research Working Papers, 2020-24, June 2020, IGIDR, Mumbai.
  • "Covid-19: Impact on the Indian Economy," (with S. Mahendra Dev), Indira Gandhi Institute of Development Research Working Papers, 2020-13, April 2020, IGIDR, Mumbai.
  • "Interlinkages between External Debt Financing, Credit Cycles and Output Fluctuations in Emerging Market Economies," (with Akhilesh Verma), Indira Gandhi Institute of Development Research Working Papers, 2020-12, April 2020, IGIDR, Mumbai.
  • "Evolution of capital controls on foreign institutional investment in India," (with Radhika Pandey, Aatmin Shah, and Bhargavi Zaveri), Indira Gandhi Institute of Development Research Working Papers, 2019-34, December 2019, IGIDR, Mumbai.
  • "External Debt Financing and Macroeconomic Instability in Emerging Market Economies," (with Ashima Goyal and Akhilesh Verma), Indira Gandhi Institute of Development Research Working Papers, 2019-13, May 2019, IGIDR, Mumbai.
  • "Analysing monetary policy statements of the Reserve Bank of India," (with Aakriti Mathur), Graduate Institute of International and Development Studies Working Paper, No. 08-2019, Graduate Institute of International and Development Studies, Geneva.
  • "An analysis of revisions in India GDP data," (with Amey Sapre), National Institute of Public Finance and Policy Working Paper, No. 213, November 2017, NIPFP, Delhi.
  • "Business cycle effect on leverage: A study of Indian non-financial firms," (with Arpita Pattanaik)," Indira Gandhi Institute of Development Research Working Papers, 2018-001, January 2019, IGIDR, Mumbai.
  • "Monetary Transmission in Developing Countries: Evidence from India," (with Arpita Pattanaik)," (with Peter Montiel and Prachi Mishra), International Monetary Fund Working Paper, August 2016, IMF, Washington DC.
  • "Evolution of the insolvency framework for non-financial firms in India," (With Anjali Sharma and Susan Thomas), Indira Gandhi Institute of Development Research, Mumbai Working Papers 2016-018, June 2016.
  • "Is there a case for exchange rate co-ordination in South Asia", (With Abhijit Sen Gupta), Indira Gandhi Institute of Development Research, Mumbai Working Papers 2016-001, January 2016.
  • "Corporate Insolvency Resolution in India: Lessons from a cross-country comparison," (with Anjali Sharma), Indira Gandhi Institute of Development Research, Mumbai Working Papers 2015-029, December 2015.
  • "Capital Flows and Capital Account Management in Selected Asian Economies," (with Abhijit Sen Gupta), CIGI Working Paper No. 9 in the 'New Thinking and the New G20' Series, April 2015.
  • "The Impossible Trinity-Where does India stand?" IGIDR Working Paper, March 2015.
  • "U.S. Investment in Global Bonds: As the Fed Pushes, Some EMEs Pull," (with John Burger, Frank Warnock, and Veronica Warnock), NBER Working Paper, No. 20571, October 2014.
  • "Corporate Debt Market in India: Lessons from the South African Experience," (With Vaibhav Anand), Indira Gandhi Institute of Development Research, Mumbai, Working Papers, 2014-029, July 2014.
  • "Is India ready for inflation-targeting?," (with Abhijit Sen Gupta), Indira Gandhi Institute of Development Research, Mumbai Working Papers 2014-019, June 2014.
  • "Impact of Exchange Rate Movements on Exports-An Analysis of Indian Non-Financial Sector Firms," (with Yin-Wong Cheung), CESifo Working Paper No. 4214, May 2013.
  • "Firm dollar debt and central bank dollar reserves: Empirical evidence from Latin America," Indira Gandhi Institute of Development Research, Mumbai, Working Papers 2014-013, April 2014.
  • "Management of Capital Flows in India-1990 to 2011” (With Abhijit Sen Gupta), Asian Development Bank South Asia Working Paper Series, No. 17, March 2013.

 

BOOK CHAPTERS

  • "Covid-19: Impact on the Indian Economy" (with S. Mahendra Dev), Forthcoming in the India Development Report, 2020-21
  • "Four Years after the Base-Year Revision: Taking Stock of the Debate Surrounding India’s National Income Estimates" (with Amey Sapre and R. Nagaraj), Forthcoming in the India Policy Forum, 2019.
  • "Evolution of the insolvency framework for non-financial firms in India," (with Anjali Sharma and Susan Thomas), in the India Development Report, 2017
  • "Capital Flows and Capital Account Management in Selected Asian Economies," (with Abhijit Sen Gupta), in Global Financial Governance Confronts the Rising Powers: Emerging Perspectives on the New G20, edited by C. Randall Henning and Andrew Walter, 2016
  • "The Impossible Trinity-Where does India stand?" in International Trade and International Finance: Explorations on Contemporary Issues, edited by Malabika Roy and Saikat Sinha Roy, 2016.
  • "Monetary Transmission in Developing Countries: Evidence from India," (with Peter Montiel and Prachi Mishra), in Monetary Policy in India: A Modern Macroeconomic Perspective, edited by Chetan Ghate and Kenneth Kletzer, 2016
  • "Corporate Debt Market in India-Issues and Challenges" (with Vaibhav Anand), in India Development Report, 2014-15.
  • "Negotiating the Trilemma and Reserve Management in an Era of Volatile Capital Flows" (with Abhijit Sen Gupta) in Managing Capital Flows-Issues in Selected Emerging Market Economies, (editors) Bruno Carrasco, Subir Gokarn, and Hiranya Mukhopadhyay, published by Oxford University Press, September 2014.
  • "Policy Tradeoffs in an Open Economy and the Role of G-20 in Global Macroeconomic Policy Coordination," (with Abhijit Sen Gupta) in Global Cooperation Among G20 Countries, An ICRIER-G20 Conference Volume published by Springer Verlag, January 2014.

  • "Covid-19 and Corporate India", (with Aakriti Mathur).
  • "Are more productive banks always better?" (with Harsh Vardhan).
  • "Capital account liberalisation in India: An analysis of the offshore-onshore arbitrage", (with Nidhi Aggarwal and Sanchit Arora).
  • "Transmission of monetary policy through the banking sector in India" (with Harsh Vardhan).
  • "Impossible Trilemma in China and India" (with Joshua Aizenman).
  • "Do exchange rate regimes in India change with RBI Governors?" (with Ila Patnaik).

  • Member of the Standing Committee on Centralised Information Management System (CIMS) at the Reserve Bank of India - May 2019- Present.
  • Member of the research secretariat for the Bankuptcy Law Legislative Reforms Committee (BLRC)- April-November, 2015.

  • Macroeconomics I (2018- Present), IGIDR.
  • Macroeconomics II (January-April, 2015, 2016, 2017), IGIDR.
  • Foundation course on "Impossible Trinity" and "Macroeconomic Stabilisation" at The Lal Bahadur Shastri National Academy of Administration (LBSNAA), Mussoorie (December 2015, November 2016)
  • Guest lectures on "Monetary Policy, Financial market reforms and Open economy macro", in the Indian Economy course for MSc. 2nd year batch at IGIDR (October 2014, October 2015)
  • Course on "Introductory Macroeconomics" at Takshashila Institution (2017-2020).
  • Lecture on "State vs. Markets" at the iPolicy program of the Centre for Civil Society (2016-2019).