Global Financial Crises and Its Effect on India

Ghazala Aziz ()

MPRA Paper from University Library of Munich, Germany

Abstract: There were arguments and counter arguments with regard to the impact on Indian economy of the global financial meltdown. The paper examines the economic scenario in India. The belief that Indian economy was adequately insulated from such global development has been found to be only partially correct. The crises affected the economy via dwindling foreign exchange reserves as significant amount of it had to be withdrawn from equity market by the foreign institutional investors. The phenomenon resulted in the adverse effect on various key macro variables which include balance of payments and employment. India’s slow pace of lessening further controls, albeit because of political compulsions, came in handy for the economy.

Keywords: foreign exchange reserves; global crises; BoP (search for similar items in EconPapers)
JEL-codes: E4 E44 E6 E62 (search for similar items in EconPapers)
Date: 2010-01-13
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/62858/1/MPRA_paper_62858.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:62858

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().