Vijay Ramchandra Joshi

Emeritus Fellow

Vijay Joshi is Emeritus Fellow of Merton College, Oxford and Reader Emeritus in Economics, University of Oxford. The primary preoccupations of his working career have been teaching and research at the University of Oxford, in the fields of macroeconomics, international economics, and development economics. He has also, from time to time, held various official and business positions, including Special Adviser to the Governor, Reserve Bank of India; Officer on Special Duty, Ministry of Finance, Government of India; Director, JP Morgan Indian Investment Trust; and consultant to international organisations such as the World Bank and the OECD. He has also held University positions such as Junior Proctor, and Chair of the Sub-Faculty of Economics, and College positions such as Sub-Warden and Senior Tutor.


Selected books

India's Long Road  – The Search for Prosperity, New York and New Delhi: Oxford University Press and Penguin Random House, 2016.

India’s Economic Reforms, 1991-2001 (with IMD Little), Oxford and Delhi: Oxford University Press, 1996.

India – Macroeconomics and Political Economy, 1964-1991 (with IMD Little), Washington D.C. and New Delhi: World Bank and Oxford University Press, 1994.

Selected journal articles and other pieces

'Ian Malcolm David Little' (with Christopher Bliss), in Biographical Memoirs of Fellows of the British Academy, Vol. XIII, The British Academy, 2014.

'Keynes, Global Imbalances and International Monetary Reform Today' (with R Skidelsky) in S Claessens, S Evenett, and B Hoekman (eds) Rebalancing the Global Economy,, 2010.

'India and Climate Change Mitigation' (with Urjit Patel) in D Helm and C Hepburn (eds) Economics and Politics of Climate Change, Oxford: Oxford University Press, 2009.

'A New Bretton Woods System Should Curb Boom and Bust' (with D Vines), in B Eichengreeen and R Baldwin (eds), What G-20 Countries Must Do to Stabilize Our Economy and Fix the Financial System,, 2008.

'Why We Need to Re-think the Exchange Rate System', Financial Times, 15  December 2006.

'Prisoner's Dilemma and City-Centre Traffic' (with M Sissons Joshi and R Lamb), Oxford Economic Papers, 2005, vol 57(1), pp 70-89.

'One World' (with R Skidelsky), New York Review of Books, 25 March 2004.

'India and the Impossible Trinity', World Economy, 2003, vol 26(4), pp 555-583.

'Exchange Rate Regimes in Developing Countries' in MFG Scott and D Lal (eds), Public Policy and Economic Development, Oxford: Oxford University Press, 1990.

'Exchange Rate Protection and Exchange Rate Conflict' (with C Bliss), Oxford Economic Papers, 1988, vol 40(2), pp 365-377.

'The International Debt Crisis' (with C Allsopp), Oxford Review of Economic Policy,  vol 2(1), 1986.

'Alternative Strategies for the UK Economy' (with C Allsopp), National Institute Economic Review, 1980, issue 91, pp 86-103.

'Domestic Distortions, Income Distribution and the Theory of Optimum Subsidy' (with S Anand), Economic Journal, 1979, vol 89(354), pp 336-352.

'The Rationale and Relevance of the Little-Mirrlees Criterion', Bulletin of the Oxford Institute of Economics and Statistics, February 1972.

'Saving and Foreign Exchange Rate Constraints' in PP Streeten (ed) Unfashionable Economics, Weidenfeld & Nicholson, 1970.