INSULATION OF INDIA FROM THE EAST ASIAN CRISIS: AN ANALYSIS

Pami Dua and Arunima Sinha
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Arunima Sinha: Department of Economics, Columbia University, New York, NY, USA

The Singapore Economic Review (SER), 2007, vol. 52, issue 03, 419-443

Abstract: This paper investigates the effects of the East Asian crisis on the Indian economy and exchange rate movements. Despite the contagion effects that profoundly affected the other crisis-hit countries, the Indian economy and the rupee were found less affected. Reforms after the 1990–1991 crisis, control of capital flows, weak economic linkages with crisis-affected countries and stabilization policies that include intervention in the foreign exchange market and tightening of monetary policy are reasons for the insulation of the Indian economy from the crisis.

Keywords: Contagion; currency pressure; liberalization and reforms; policy intervention (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1142/S0217590807002737

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