Indian Financial Markets: An Insider's Guide to How the Markets Work

Ajay Shah, Susan Thomas, Michael Gorham

Elsevier, Sep 30, 2008 - Business & Economics - 264 pages

The whole world wants to invest in India. But how to do this successfully? Written by two Indian financial experts with a seasoned expert of the Chicago Mercantile Exchange, this book tells you the why and how of investing in India. It explains how India's financial markets work, discusses the amazing growth of the Indian economy, identifies growth drivers, uncovers areas of uncertainty and risk. It describes how each market works: private equity and IPOs, bonds, stocks, derivatives, commodities, real estate, currency. The authors include a discussion of capital controls in each section to address the needs of foreign investors. Learn about the the markets, the instruments, the participants, and the institutions governing trading, clearing, and settlement of transactions, as well as the legal and regulatory framework governing financial securities transactions.

• Written by two life-long insiders who can explain India's financial markets to outsiders
• Clear and comprehensive coverage of this economic powerhouse
• Caters to the needs of foreign investors

Contents

• Chapter 1 The Economy: 1
• Chapter 2 The Firms: 33
• Chapter 3 Private Equity and the IPO Market: 45
• Chapter 4 The Public Equity Market: 55
• Chapter 5 Government Bonds: 81
• Chapter 6 Corporate Bonds: 95
• Chapter 7 Commodity Futures Markets: 113
• Chapter 8 Real Estate: 133
• Chapter 9 The Rupee: 153
• Chapter 10 Financial Firms: 165
• Chapter 11 Policy Issues: 191
• Chapter 12 What Can Global Financial Firms Do with India?: 213
• Appendix A Sources: 219
• Appendix B Abbreviations: 221
• Appendix C Interpreting Those Strange Indian Numbers: 225
• Bibliography: 227
• Index: 231

About the author

Ajay Shah studied at IIT, Bombay and USC, Los Angeles. He has held positions at the Centre for Monitoring Indian Economy (Bombay), Indira Gandhi Institute for Development Research (Bombay) and the Ministry of Finance. He is currently a Senior Fellow at the National Institute of Public Finance and Policy (NIPFP) in India. His research interests include policy issues on Indian economic growth, open economy macroeconomics, public finance, financial economics and pensions. In the past decade, he was extensively involved in the policy process in the reforms of the equity market and the New Pension System. His work can be accessed on the web at http://www.mayin.org/ajayshah

Susan Thomas is faculty at the Indira Gandhi Institute for Development Research in Bombay. Her research has been in financial econometrics, specifically on models of the volatility of financial prices, and aspects of market microstructure in Indian financial markets. She has also worked on models for the Indian zero coupon yield curve, govt. bond index construction and probability of default for Indian firms. Her work can be accessed on the web at http://www.igidr.ac.in/~susant.

Michael Gorham is Industry Professor and Director of the IIT Stuart Center for Financial Markets at the Stuart School of Business in the Illinois Institute of Technology. He serves on the board of directors for two exchanges — the CBOE Futures Exchange and the National Commodity and Derivatives Exchange of India. He also serves on the Business Conduct Committees of the Chicago Mercantile Exchange and the National Futures Association and the editorial boards of the GARP Risk Review and of Futures Industry magazine.

Bibliographic information

• Title: Indian Financial Markets: An Insider's Guide to How the Markets Work; Elsevier and IIT Stuart Center for Financial Markets Press
• Authors: Ajay Shah, Susan Thomas, Michael Gorham
• Publisher: Elsevier, 2008
• ISBN: 0080559948, 9780080559940
• Length: 264 pages
• Subjects: Business & Economics / Banks & Banking; Business & Economics / International / General; Business & Economics / Investments & Securities / General