Madhusudan Mohanty

Head of Economics & Financial Markets for Asia & the Pacific
Monetary and Economic Department, Economics and Financial Markets for Asia and the Pacific

Madhusudan Mohanty has been the Head of Economics and Financial Markets for Asia & the Pacific since August 2015, after spending over 15 years at the BIS head office as the Head of Emerging Markets, Head of Macroeconomic Analysis and a senior economist. Prior to joining the BIS, he worked at the Reserve Bank of India's research department and served as the editor of the RBI's research journal. Mr Mohanty was educated in India and the United Kingdom.

Fields of interest

  • Monetary policy
  • Financial market infrastructures
  • Developing Asia

  • "Emerging market local currency bonds: diversification and stability" (with K Miyajima and T Chan), Emerging Markets Review, vol 22, March 2015. Also published as BIS Working Papers no 391.
  • "Banks and financial intermediation in emerging Asia: reforms and new risks" (with P Turner), in M Kawai and A Sheng (eds), Capital Market Reform in Asia, 2012. Also published as BIS Working Papers no 313.
  • "The future of public debt: prospects and implications" (with S Cecchetti and F Zampolli), in S Gokarn (ed), Challenges to central banking in the context of financial crisis, Reserve Bank of India, 2011.
  • " The real effects of debt" (with S Cecchetti and F Zampolli), Federal Reserve of Kansas City, Economic Symposium Conference Proceedings, Jackson Hole, 2011, pp 145-96. Also published as BIS Working Papers no 352.
  • "The future of public debt: prospects and implications" (with S Cecchetti and F Zampolli), in S Gokarn (ed), Challenges to central banking in the context of financial crisis, 2011. Also published as BIS Working Papers no 300.
  • "Monetary policy rules in emerging market economies: issues and evidence" (with M Klau), in R Langhammer and L Vinhas de Souza (eds), Monetary policy and macroeconomic stabilization in Latin America, 2013. Also published as BIS Working Paper no 149.
  • " Tax efficiency in selected Indian states" (with R Jha), Empirical Economics, no 24, 1999.
  • " Effective cost of small savings" (with N Raje), RBI Occasional Papers, vol 20, September 1998.
  • "Fiscal deficit, external balance and monetary growth: the case of the Indian economy" (with C Rangarajan), RBI Occasional Papers, vol 18, no 9, December 1997.
  • " Macro-economic stability, growth and fiscal reform - the Indian perspective", Economic and Political Weekly, vol XXXII, no 6, February 1997. Also published in A Desai and T Ray (eds), Economic reforms: the next step, Frank Brothers for Rajiv Gandhi Institute for Contemporary Studies.
  • "Fiscal efficiency in Indian federation" (with R Jha and S Chatterjee), Development Research Group Study, no 12, Reserve Bank of India, 1995.
  • "Modeling inflation in India" (with R Jha), Discussion Paper no 126, Indira Gandhi Institute of Development Research, December 1995.
  • "Interrelationship between fiscal and trade deficit in India: 1970-71 to 1990-91", RBI Occasional Papers, vol 13, no 3, September 1992.