Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/53448 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorShah, Ajayen
dc.contributor.authorPatnaik, Ilaen
dc.date.accessioned2011-12-15T12:20:47Z-
dc.date.available2011-12-15T12:20:47Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/53448-
dc.description.abstractFrom the early 1990s, India embarked on easing capital controls. Liberalization emphasized openness towards equity flows, both FDI and portfolio flows. In particular, there are few barriers in the face of portfolio equity flows. In recent years, a massive increase in the value of foreign ownership of Indian equities has come about, largely reflecting improvements in the size, liquidity and corporate governance of Indian firms. While the system of capital controls appears formidable, the de facto openness on the ground is greater than is apparent, particularly because of the substantial enlargement of the current account. These changes to capital account openness were not accompanied by commensurate monetary policy reform. The monetary policy regime has consisted essentially of a pegged exchange rate to the US dollar throughout. Increasing openness on the capital account, coupled with exchange rate pegging, has led to a substantial loss of monetary policy autonomy. The logical way forward now consists of bringing the de jure capital controls up-to-date with the de facto convertibility, and embarking on reforms of the monetary policy framework so as to shift the focus of monetary policy away from the exchange rate to domestic inflation.en
dc.language.isoengen
dc.publisher|aAsian Development Bank Institute (ADBI) |cTokyoen
dc.relation.ispartofseries|aADBI Discussion Paper |x98en
dc.subject.jelF21en
dc.subject.jelF34en
dc.subject.jelE42en
dc.subject.ddc330en
dc.subject.stwPortfolio-Investitionen
dc.subject.stwKapitalverkehrspolitiken
dc.subject.stwIndienen
dc.titleManaging capital flows: The case of India-
dc.typeWorking Paperen
dc.identifier.ppn569575257en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Datei(en):
Datei
Größe
173.8 kB





Publikationen in EconStor sind urheberrechtlich geschützt.