5  Reinhart and Rogoff (2009) find that unemployment rises for nearly five years following a banking crisis, by an average of 7 percentage points, although the peak-to-trough in output takes just 2 years. 6  Reinhart and Rogoff (2012) find that once a debt-to-GDP ratio exceeds 90 per cent, it tends to stay above this level for an average of 23 years.
The regulatory framework will continue to strive to make the on-shore derivative markets accessible to all non-residents with a Rupee exposure. 23. Let me now conclude. India is among the world’s fastest growing countries and is the world’s third largest economy today in PPP terms. It is among the global investors’ preferred destination.