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Effects of Forced Formalization (Demonetization) in the Indian Economy

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  • Nischal Dhungel

Abstract

Nischal Dhungel examines the impact of India's demonetization experiment--an effort at "forced formalization" of the economy. He urges a more organic approach to formalization, pairing efforts to bring the unbanked population into the banking system with greater funding and accessibility for India's signature employment guarantee program.

Suggested Citation

  • Nischal Dhungel, 2023. "Effects of Forced Formalization (Demonetization) in the Indian Economy," Economics Policy Note Archive 23-4, Levy Economics Institute.
    • Handle: RePEc:lev:levypn:23-4
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    References listed on IDEAS

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    1. Amartya Lahiri, 2020. "The Great Indian Demonetization," Journal of Economic Perspectives, American Economic Association, vol. 34(1), pages 55-74, Winter.
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