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CAPITAL INFLOWS, FINANCIAL REPRESSION AND MACROECONOMIC POLICY IN INDIA SINCE THE REFORMS

Partha Sen
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Partha Sen: Department of Economics, Delhi School of Economics, Delhi, India

No 157, Working papers from Centre for Development Economics, Delhi School of Economics

Abstract: Since the early 1990s the Indian economy has seen a considerable relaxation of controls, as a consequence of which it has witnessed unprecedented growth. This is especially remarkable in the external sector. In this paper I evaluate the progress made on the macroeconomic front and address the possibility of opening up the capital account of the balance of payments. I show that given the weakness in the financial sector and the government finances, it may be dangerous to speed up the process of opening up the capital account further.

Keywords: Economic liberalization; financial repression; capital account convertibility (search for similar items in EconPapers)
JEL-codes: E58 F21 F32 F43 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2007-08
New Economics Papers: this item is included in nep-cwa, nep-fdg and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Journal Article: Capital inflows, financial repression, and macroeconomic policy in India since the reforms (2007) Downloads
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