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Inflows and policy: middling through

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  • Goyal, Ashima

Abstract

The paper (i) briefly surveys India‘s policy choices over the reform period with respect to liberalization of the capital account, their underlying rationale and politics, (ii) demonstrates the kinds of capital inflows that resulted; their special characteristics, (iii) assesses the contributions of the inflows; their risks and stresses for policy, and (iv) examines the impact of and handling of the East Asian and the Global Financial Crisis

Suggested Citation

  • Goyal, Ashima, 2010. "Inflows and policy: middling through," MPRA Paper 39868, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:39868
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    File URL: https://mpra.ub.uni-muenchen.de/39868/7/MPRA_paper_39868.pdf
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    References listed on IDEAS

    as
    1. Peter Blair Henry, 2007. "Capital Account Liberalization: Theory, Evidence, and Speculation," Journal of Economic Literature, American Economic Association, vol. 45(4), pages 887-935, December.
    2. Partha Sen, 2007. "Capital inflows, financial repression, and macroeconomic policy in India since the reforms," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 23(2), pages 292-310, Summer.
    3. Caballero, Ricardo J. & Krishnamurthy, Arvind, 2004. "Smoothing sudden stops," Journal of Economic Theory, Elsevier, vol. 119(1), pages 104-127, November.
    4. Peter Henry, 2007. "Capital Account Liberalization: Theory, Evidence, and Speculation," Discussion Papers 07-004, Stanford Institute for Economic Policy Research.
    5. Guillermo A. Calvo, 2008. "Crises in Emerging Markets Economies: A Global Perspective," Central Banking, Analysis, and Economic Policies Book Series, in: Kevin Cowan & Sebastián Edwards & Rodrigo O. Valdés & Norman Loayza (Series Editor) & Klaus Schmidt- (ed.),Current Account and External Financing, edition 1, volume 12, chapter 3, pages 085-115, Central Bank of Chile.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Goyal, Ashima & Arora, Sanchit, 2012. "The Indian exchange rate and Central Bank action: An EGARCH analysis," Journal of Asian Economics, Elsevier, vol. 23(1), pages 60-72.

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    More about this item

    Keywords

    Capital flows; capital account liberalization; FX market; Crises impacts;
    All these keywords.

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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