Programme
February 10, 2005
09.30 – 11.00 hrs Inaugural Session
Chairperson: Dr. C. Rangarajan, Head, EAC of Prime Minister
Welcome: Dr. R. Radhakrishna, Director, IGIDR
Overview: Dr. D.M.Nachane, Senior Professor, IGIDR
Keynote Address: Professor Benjamin Friedman,
William Joseph Maier Professor of
Political Economy,
Title: Transparency and Credibility
in Monetary Policy:
Shortcomings of Inflation
Targeting
Speech of Chair: Dr. C. Rangarajan
Vote of Thanks: Dr. Rajendra Vaidya, IGIDR
11.00 – 11.30 hrs Tea Break
11.30 – 13.00
hrs Session 1: Financial
Econometrics
Chairperson: Dr. R. Barman, Executive Director, RBI
Co-chairperson: Dr.
Jose G. Clavel, Professor,
Papers to be
presented:
Alok Kumar Long Memory in Stock Trading Volume: Evidence from Indian Stock Market
Golaka C. Nath and Manoj Dalvi Day of the Week Effect and Market Efficiency – Evidence from Indian Equity Market Using High Frequency Data
D Dutta & B Bhattacharya Modelling Extremal Behaviour of S&P CNX NIFTY: An EVT Approach
Sunando Roy Liquidity Adjustment in Value at Risk(VaR) Model : Evidence from Indian Debt Market
13.00 – 14.30 hrs Lunch
14.30 – 17.00 hrs Session
2: Monetary Economics
Chairperson: Dr. Vikas Chitre, Director,
Co-chairpersons: Dr. Pushpa Trivedi, Dept. of HSS, IIT,
Mumbai and Dr. S. Chandrasekhar, IGIDR
Papers to be presented:
M Ramachandran High capital mobility and
precautionary demand for international reserves
I. Bhattacharya & R. Sensarma Signalling Instruments of Monetary Policy: The Indian Experience
D. Ajit Assessing
Stability of Money Demand in
Prashobhan Palakkeel Monetary Transmission Mechanism: Significance of Channels in Indian Economy
Vineet
Virmani Examination
of the Credit Channel of Monetary Transmission in
M.A. Adebiyi Financial Sector Reforms and the
Transmission Mechanism of Monetary Policy in
Rania Al-Mashat Monetary Policy
Transmission in
17.00
hrs Tea Break
19.00 hrs. Special Lecture
Pursuit of Financial Stability
Dr.
(Mrs.) K. Udeshi,
Dy. Governor, Reserve Bank of
20.30 hrs. Special
Dinner by the Director, IGIDR, at Director’s Residence
10.30 – 13.00 hrs Session 3: Indian Capital Markets
Chairperson: Dr. B. Kamaiah,
Co-chairperson: Dr. M.
Ramachandran, ISEC,
Papers to be presented:
Saibal Ghosh Non-performing Loans, Corporate Leverage and Financial Stability: Evidence from an Emerging Economy
Anuj Arora and Ajay Shah Do Leveraged Speculators Aid Equity
Market Efficiency and Liquidity? – Evidence from Emerging
Anuj
Arora The
Impact of Options Trading on the Liquidity of the Underlying Security – An
Empirical Analysis of the Intraday Data from Emerging
Lekshmi
R. Nair Stock
Market Development and Household Savings in
S. K. Mallik, A. Sarkar, K.K. Roy Dynamic Financial Pricing in Emerging Economies: An
T. Duttachaudhuri and Application
to Stock Markets in
A. Chakraborty
13.00 – 14.30 hrs Lunch
14.30 – 16.30
hrs. Session 4: Emerging
Issues in the Financial Sectors
Chairperson: Dr. Subrata
Sarkar, IGIDR, Mumbai
Co-chairperson: Dr. Errol D' Souza, Professor, IIM,
Ahmedabad
Papers to be
presented:
Ashutosh Kumar and Capital Control and Short Term Vulnerability
Ayan Kumar Pujari
Sangeetha Impact of
Environmental and Ownership Reform on Profitability of Public Sector
Enterprises - Evidence from
Saurabh Ghosh Do Leverage, Dividend
Policy and Profitability Influence Future Value of Firm? Evidence from
Arindam Bhandyopadhyay The Effect of Capital Structure on Firm’s Product Market Performance: Empirical Evidence from the Indian Manufacturing Firms
17.00 –
18.00 hrs Valedictory
Address:
Dr. Rakesh Mohan, Secretary (EA),
Dept. of Economic Affairs, Ministry of
Finance, Govt. of
Chair: Prof.
Mihir Rakshit, Director, Monetary Research Project, ICRA Ltd.,