Did the Indian Capital Controls Work as a Tool of Macroeconomic Policy&quest
Ila Patnaik () and
Ajay Shah ()
IMF Economic Review, 2012, vol. 60, issue 3, 439-464
The present debate over capital controls emphasizes their potential role as tools for macroeconomic and financial stability. The effectiveness of these tools may depend on whether a country has the legal and administrative machinery to implement capital controls. This paper contributes to the analysis of the costs and benefits of capital controls by studying the experience of India, a country that has a system of capital controls that had never been dismantled. The paper finds that when the capital controls were used as tools of macroeconomic policy, during a capital surge, the Indian experience appears to be similar to that of other countries.
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15) Track citations by RSS feed
Downloads: (external link)
http://www.palgrave-journals.com/imfer/journal/v60/n3/pdf/imfer201216a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/imfer/journal/v60/n3/full/imfer201216a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pal:imfecr:v:60:y:2012:i:3:p:439-464
Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/41308/PS2
Access Statistics for this article
More articles in IMF Economic Review from Palgrave Macmillan, International Monetary Fund
Bibliographic data for series maintained by Sonal Shukla ().