Despite having been helpful in the past, globalization may not be a crutch for central banks to lean on going forward.
More Quotes from Raghuram Rajan:
A number of developments concern us. These include the excessive dependence of global demand on consumption, especially in the US, the elevated level of asset prices, particularly housing and the high and volatile price of oil. The downside risks to our forecast have thus increased.Raghuram Rajan
Growth in 2005 will be about 0.1 percentage points lower as a result of Katrina.
Raghuram Rajan
We are getting more and more into supply-driven price increases which are going to be more constraining for growth going forward. We are at a point where further substantial increases will start mattering far more.
Raghuram Rajan
They may have to work harder in order to keep inflation expectations anchored.
Raghuram Rajan
We expect India to grow at around 7 to 7.5 in calendar year 2006.
Raghuram Rajan
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Allowing the U.N. into Iraq will demonstrate to the Iraqis that the international community as a whole is committed to bringing stability and safety to their country.
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History proves that all dictatorships, all authoritarian forms of government are transient. Only democratic systems are not transient. Whatever the shortcomings, mankind has not devised anything superior.
Vladimir Putin