MUMBAI, India -- Dr. Harendra Kumar Behera was declared the winner of Export-Import Bank of India’s (Exim Bank) International Economic Development Research Annual (IEDRA) Award 2012 for his Doctoral dissertation titled “The Effects of Financial Openness: An Assessment of the Indian Experience”. The Exim Bank IEDRA Award 2012 was announced by Mr. T.C. A. Ranganathan, Chairman and Managing Director, Exim Bank, at an award function held on July 12, 2013, in New Delhi. The Award consisting of Indian Rupees Two Lakh Fifty Thousand and a Citation were handed over by the Chief Guest, Dr. Raghuram Rajan, Chief Economic Adviser, Government of India, Ministry of Finance, New Delhi, who also released Exim Bank’s Occasional Paper titled, which is based on Dr. Behera’s Award winning thesis.
Mr. Ranganathan, highlighted that the Exim Bank IEDRA Award, instituted in 1989, is given for Doctoral dissertations in the area of international economics, trade & development and related financing by Indian nationals from Indian or foreign universities. The year 2012 was the twenty fourth year of the Award. Commenting on the Award winning thesis, Mr. Ranganathan noted that the research study addresses the various intriguing facets of financial globalization, and especially so in the current context of the recent crises and slowdown that the world economy has witnessed.
Winning Thesis
Dr. Behera obtained his Doctorate in Economics from the University of Hyderabad in 2012 and at present is Assistant Professor in the Department of Humanities and Social Sciences, IIT Madras. In his thesis, Dr. Behera seeks to provide a comprehensive assessment of capital account liberalisation measures undertaken by India, by examining some aspects of its impact on investment, growth and macroeconomic volatility. The study provides a comprehensive survey of policies on capital account liberalisation in India and explains that the Indian approach towards capital account liberalisation was gradual to encourage all major forms of capital flows, though with caution from the viewpoint of macroeconomic stability. The study claims that the overall effects of financial openness are positive for India, which could perhaps be attributed to the cautious and gradual approach of policies undertaken in liberalising capital account and domestic reforms.
Exim Bank
Exim Bank International Economic Development Research Annual Award represents the Bank’s ongoing efforts at promoting research and analysis in the area of international economics, trade & development and related financing.
