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Capital Account Liberalization and Risk Management in India

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Author Info

  • Amadou N. R. Sy

Abstract

This paper takes a closer look at the prudential and regulatory measures needed to prepare India''s financial system to manage the risks arising from fuller capital account convertibility (FCAC). The paper contributes to the debate on FCAC in two ways. First, it reviews the potential and existing financial stability challenges to FCAC in India. Second it studies how prudential regulation and supervision is addressing these challenges. The main conclusion is that regulatory and supervisory measures alone are not enough and will need to be complemented by improvements in Indian banks'' risk management and further development of the domestic capital markets.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 07/251.

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Length: 12
Date of creation: 01 Oct 2007
Date of revision:
Handle: RePEc:imf:imfwpa:07/251

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Related research

Keywords: Risk management; Capital account convertibility; capital markets; government securities; financial institutions; derivatives transactions; financial sector; derivatives market; financial system; domestic capital; domestic capital markets; capital account liberalization; derivatives instruments; hedging; financial assets; financial stability; corporate bond market; credit derivatives; hedge; interest rate risk; corporate bonds; bonds; money market; capital adequacy; derivatives markets; equity derivatives; interest rate futures; capital planning; securitization; herstatt risk; bond; international standards; management techniques; derivatives market activity; derivative; financial markets; derivative transactions; corporate bond; securities market; new securities; bond market;

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Cited by:
  1. Niyogi Sinha Roy, Tanima & Bhattacharya, Basabi, 2011. "Macroeconomic Stress Testing and the Resilience of the Indian Banking System: A Focus on Credit Risk," MPRA Paper 30263, University Library of Munich, Germany.

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