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dc.contributor.authorGhosh, Saurabhen_US
dc.contributor.authorReitz, Stefanen_US
dc.description.abstractIn this paper we empirically investigate the relationship between capital flows and exchange rates in India based on a new index of real effective exchange rates for the Indian Rupiah. Instead of using consumer price indices we deflate exchange rates by MSCI asset price indices. The cointegration analysis indicates a long-run equilibrium relationship between our real financial market exchange rate and the net outstanding equity investment in India. In the short run capital inflows are accompanied by an appreciation of real financial exchange rate of the Rupiah.en_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel advanced studies Working Papers 461en_US
dc.subject.keywordReal Exchange Rateen_US
dc.subject.keywordCapital Flowsen_US
dc.subject.keywordFinancial Asset Pricesen_US
dc.subject.keywordEmerging Financial Marketsen_US
dc.titleCapital flows, financial asset prices and real financial market exchange rate: A case study for an emerging market, Indiaen_US
dc.typeWorking Paperen_US
Appears in Collections:Kiel Advanced Studies Working Papers, IfW
Publikationen von Forscherinnen und Forschern des IfW

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