Does Devaluation work for India?

Artatrana Ratha ()

Economics Bulletin, 2010, vol. 30, issue 1, 247-264

Abstract: Whether currency devaluation helps economic growth is an empirically open question. Despite its policy-implications, the issue has received relatively scant econometric attention. Since the results are specific to the sample, model, and techniques employed, country-specific studies have received renewed interest. Coexistence of successive currency devaluations and a booming economy makes India a unique case-study. Using latest data and the bounds-testing approach to cointegration and error-correction modeling, this paper finds that rupee's devaluation is expansionary in India.

Keywords: Devaluation; Expansionary effects; India; Rupee; bounds-testing; cointegration (search for similar items in EconPapers)
JEL-codes: F3 (search for similar items in EconPapers)
Date: 2010-01-17
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Citations: View citations in EconPapers (12)

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