EVENTS

Abstract:

This presentation looks at the impact of recent crisis episodes viz. the global recession of 2008-09 and the Eurozone debt crisis of 2010-12 on the Emerging Market Economies (EMEs) of China and India. Macroeconomic indicators suggest that both China and India were impacted by the crises. Using Markov-switching analysis, the presentation discerns regimes in economic growth as well as financial markets and study the impact of the crisis episodes on the same. It also identifies vulnerability and robustness factors governing the degree of exposure and resilience to the crisis for both these economies. In view of strong trade and financial linkages, the Eurozone crisis may have marred prospects of recovery in the aftermath of the recent Great Recession in both China and India. China, however, is found to be more resilient to the crisis possibly due to stronger macroeconomic fundamentals.

About the Speaker:

Divya Tuteja is an Assistant Professor at the University of Delhi since 2013. After completion of her Masters from the Delhi School of Economics in 2008, she worked as a Manager in a reputed private bank for a year. She returned to DSE to pursue her doctoral studies and worked as a University Teaching Assistant at the Department from 2009 to 2013. She has received her Ph.D in 2015. Her research fields are international financial markets and macroeconomics where she has worked on inter-linkages across international asset markets and the possibility of ‘financial contagion’. She has presented research papers at several international conferences such as Asian Meeting of the Econometric Society 2012, 2013; Winter School 2013, 2014; Indian Statistical Institute Annual Conference 2013, 2014; and Singapore Economic Review Conference 2013. Her ongoing research focuses on appraising the impact of crises in the U.S. and Eurozone on Emerging Market Economies especially China and India. She has worked in collaboration with Prof. Pami Dua on a paper entitled ‘Impact of Eurozone Sovereign Debt Crisis on China and India’, which is accepted for publication in the Singapore Economic Review. She can be reached at divya@econdse.org.