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Changing Contours Of Policy Communications In India

Author

Listed:
  • Abhishek Ranjan

    (Reserve Bank of India, India)

  • Siddhartha Nath

    (Reserve Bank of India, India)

Abstract

Using the keyword frequencies in the headlines of press releases issued by the Ministry of Commerce and Industry Government of India, this article quantifies the shifting focus of India’s public policy communications. Our analysis suggests that, in the aftermath of the 2008–09 Global Financial Crisis, India’s public policy communications shifted from international trade to innovation and competitiveness, while the emphasis on large infrastructure development, employment, investment, and policy incentives remained. A similar analysis using newspaper headlines from India’s three leading newspapers and Google search intensity using Google Trends broadly suggest similar trends. However, media articles about innovations and competitiveness displayed growth trends about three years before there was a similar trend in communications from the ministry. Comparatively, the public interest on innovations, as measured by Google Trends data, lagged ministry communications by almost two years. Therefore, this article suggests that ministry communications aimed at guiding economic agents’ decisions towards certain developmental goals are in line with the flow of thoughts in the media and public in India.

Suggested Citation

  • Abhishek Ranjan & Siddhartha Nath, 2024. "Changing Contours Of Policy Communications In India," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 27(3), pages 435-458, July.
    • Handle: RePEc:idn:journl:v:27:y:2024:i:3c:p:435-458
    DOI: https://doi.org/10.59091/2460-9196.2288
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    References listed on IDEAS

    as
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    6. Aakriti Mathur & Rajeswari Sengupta, 2019. "Analysing monetary policy statements of the Reserve Bank of India," IHEID Working Papers 08-2019, Economics Section, The Graduate Institute of International Studies.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Public policy; Communication; Trade; Innovation;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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