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Capital Account Convertibility and Risk Management in India

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  • Amadou N 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.

Suggested Citation

  • Amadou N Sy, 2007. "Capital Account Convertibility and Risk Management in India," IMF Working Papers 07/251, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:07/251
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=21364
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    1. Isabelle Huault & V. Perret & S. Charreire-Petit, 2007. "Management," Post-Print halshs-00337676, HAL.
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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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    Keywords

    Capital account convertibility; Capital account; Convertibility; Risk management; India; capital markets; government securities; financial institutions; liberalization;

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