Includes bibliographical references and index.

This book is a collection of essays of Dr I.G. Patel, a distinguished economist and policymaker, on a wide range of issues related to theory and policy in the areas of money, finance, trade, balance of payments, and economic development. These essays provide insights in to Dr Patel's deep grasp of economic theory and econometric techniques. Modifying economic theory to solve the problems of India and other similarly situated countries, they reveal how macroeconomic theory predominant in developed countries assumed new meaning and dimension in the context of economic development. The articles contain a tapestry of ideas which are still relevant in the contemporary Indian and global economic setting.