What Explains Real and Nominal Exchange Rate Fluctuations?: Evidence from SVAR Analysis for India [PDF]
This study empirically analyzes the sources of the exchange rate fluctuations in India by employing the structural VAR model. The VAR system consists of three variables, i.e., the nominal exchange rate, the real exchange rate, and the relative output of ...
Shigeyuki Hamori, Takeshi Inoue
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India's policy stance on reserves and the currency [PDF]
Over the last decade, India engaged in substantial liberalisation on the current account and the capital account. At the same time, a fully articulated policy framework defining the currency regime is not known in the public domain.
Ila Patnaik
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Exchange RAte Dynamics with Financial Repression: A Test of Exchange Rate Models for India [PDF]
This paper examines the relevance of the monetary approach for exchange rate behaviour in India, unde rthe managed float regime. It finds supprot for purchaisng power parity in traded goods and that the monetary approach provdies a reasonable description
Kenneth Kletzer, Renu Kohli
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NATIONAL INNOVATION SYSTEM AND MACROECONOMIC POLICIES: BRAZIL AND INDIA IN COMPARATIVE PERSPECTIVE [PDF]
Efforts towards economic development in Brazil and India share some common aspects. From the beginning of the 1950s to the end of the 1980s, both countries adopted import substitution policies including high tariffs and non-tariff barriers.
André Nassif
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The Future of Financial Liberalization in South Asia [PDF]
The paper defines financial liberalization, distinguishing between liberalization of domestic financial markets and capital account convertibility. It then examines the stages and the strategy of Indian financial reform.
Ashima Goyal
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Managing capital flows: The case of India [PDF]
, 2008 From 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.
Patnaik, Ila, Shah, Ajay
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Reading a Target Zone in Keynes's Indian Currency and Finance [PDF]
The gold-exchange standard in India 1893-1913 was characterized by a narrow target zone for the exchange rate, a wide annual range for the international interest-rate differential, and negative (seasonal) autocorrelation in interest rates.
Gregor W. Smith
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Effectiveness of Capital Controls in India: Evidence from the Offshore NDF Market [PDF]
This paper examines the effectiveness of international capital controls in India over time by analyzing daily return differentials in the non-deliverable forward (NDF) markets using the self-exciting threshold autoregressive (SETAR) methodology. We begin
Gurnain Kaur Pasricha +2 more
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Financial Development in Emerging Markets: The Indian Experience [PDF]
Financial markets that function well are crucial for the long-run economic growth of a country. This paper, in the first instance, looks at how the financial development of an economy can be measured.
Krishnan, K.P.
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Towards an Expanded Role for Asian Currencies: Issues and Prospects [PDF]
Notwithstanding incumbency advantages and network effects enjoyed by the United States (US) dollar, considerations about the stability of its value have led Asian countries to fear they are holding their foreign exchange reserves in a depreciating ...
Chow, Hwee Kwan
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