This year’s conference I gather this year’s conference has two special themes: (i) time series analysis; and (ii) financial statistics. I can hardly overemphasize the relevance of the two themes. Time series analysis is important for understanding the underlying trends and for identifying inflexion points.
Nonetheless, India could  8  BIS Review 15/2010  not remain unscathed for long. As the crisis intensified in the aftermath of collapse of Lehman Brothers, the global shocks first impacted the domestic financial markets and then transmitted to the real economy through the finance, trade and confidence channels.