Macro-economic Management of the Indian Economy: Capital Flows, Interest Rates and Inflation
AbstractThe paper lays out a consistent frame work for monetary management in the context of excess capital inflows. There is an urgent need for developing competitive, open and well regulated markets for (a) long term debt (b) rupee futures and forwards, and (c) interest rate /credit risk products, so that economic agents can hedge their exposure in an efficient market with low transaction costs. [Working Paper No. 2/2007-DEA]
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Date of creation: Jan 2008
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monetary transaction competitive; developing; n costs; management; regulated markets;
Other versions of this item:
- Arvind Virmani, 2009. "Macro-economic management of the Indian economy: capital flows, interest rates, and inflation," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 2(2), pages 189-214.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ajay Shah & Ila Patnaik, 2007. "India’s Experience with Capital Flows: The Elusive Quest for a Sustainable Current Account Deficit," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices and Consequences, pages 609-644 National Bureau of Economic Research, Inc.
- Vipul Bhatt & Arvind Virmani, 2005. "Global integration of India's Money Market : Interest rate parity in India," Indian Council for Research on International Economic Relations, New Delhi Working Papers 164, Indian Council for Research on International Economic Relations, New Delhi, India.
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- Masood, Tariq & Ahmad, Mohd. Izhar, 2009. "Macroeconomic Implications of Capital Inflows in India," MPRA Paper 19299, University Library of Munich, Germany, revised 06 Oct 2009.
- M. Govinda Rao & Sen, Tapas Kumar & Jena, Pratap R., 2008.
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08/55, National Institute of Public Finance and Policy.
- Gargi Sanati, 2010. "Integration of India’s Financial Markets on the Domestic and International Fronts: An Emperical Analysis of the Post-Liberalisation Period. June 2010," Working Papers id:3097, eSocialSciences.
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