Matches in SemOpenAlex for { <https://semopenalex.org/work/W3143725865> ?p ?o ?g. }
Showing items 1 to 83 of
83
with 100 items per page.
- W3143725865 abstract "Increased integration with global financial markets has amplified the complexity of macroeconomic management in India. The diverse objectives of a robust growth rate, healthy current account deficit, competitive exchange rate, adequate external capital to finance investment, moderate inflation, targeted monetary and credit growth rate, minimizing financial fragilities and maintaining adequate reserves need to be balanced in an era of volatile capital flows. In this paper we analyze India’s experience in negotiating the trade-offs between these varied objectives. We find that to minimize risks associated with financial fragilities India has adopted a calibrated and gradual approach towards opening of the capital account, prioritizing the liberalization of certain flows. Using empirical methods we find that instead of adopting corner solutions, India has embraced an intermediate approach in managing the conflicting objectives of the well-known Impossible Trinity – monetary autonomy, exchange rate stability and an open capital account. Our results indicate that the intermediate approach has been associated with an asymmetric intervention in the foreign exchange market, with the objective of resisting pressures of appreciation, and resulted in large accumulation of reserves. We also show that sterilization of this intervention has been incomplete at times leading to rapid increase in monetary aggregates and fueling inflation. Finally, we conclude that while the greater flexibility in exchange rate since 2007, has allowed pursuit of a more independent monetary policy and the exchange rate to act as a shock absorber, the hands-off approach has resulted in reserves remaining virtually stagnant since 2007, leading to a significant deterioration in the reserve adequacy measures." @default.
- W3143725865 created "2021-04-13" @default.
- W3143725865 creator A5010105067 @default.
- W3143725865 creator A5018192191 @default.
- W3143725865 date "2013-01-01" @default.
- W3143725865 modified "2023-09-26" @default.
- W3143725865 title "Management of Capital Flows in India: 1990-2011" @default.
- W3143725865 hasPublicationYear "2013" @default.
- W3143725865 type Work @default.
- W3143725865 sameAs 3143725865 @default.
- W3143725865 citedByCount "0" @default.
- W3143725865 crossrefType "posted-content" @default.
- W3143725865 hasAuthorship W3143725865A5010105067 @default.
- W3143725865 hasAuthorship W3143725865A5018192191 @default.
- W3143725865 hasConcept C121232785 @default.
- W3143725865 hasConcept C121332964 @default.
- W3143725865 hasConcept C126285488 @default.
- W3143725865 hasConcept C148761745 @default.
- W3143725865 hasConcept C162324750 @default.
- W3143725865 hasConcept C166957645 @default.
- W3143725865 hasConcept C175025494 @default.
- W3143725865 hasConcept C18547055 @default.
- W3143725865 hasConcept C200941418 @default.
- W3143725865 hasConcept C2776071005 @default.
- W3143725865 hasConcept C2776988154 @default.
- W3143725865 hasConcept C2781395280 @default.
- W3143725865 hasConcept C2991741723 @default.
- W3143725865 hasConcept C32768728 @default.
- W3143725865 hasConcept C33332235 @default.
- W3143725865 hasConcept C34447519 @default.
- W3143725865 hasConcept C536366893 @default.
- W3143725865 hasConcept C556758197 @default.
- W3143725865 hasConcept C58823610 @default.
- W3143725865 hasConcept C83646750 @default.
- W3143725865 hasConcept C95457728 @default.
- W3143725865 hasConceptScore W3143725865C121232785 @default.
- W3143725865 hasConceptScore W3143725865C121332964 @default.
- W3143725865 hasConceptScore W3143725865C126285488 @default.
- W3143725865 hasConceptScore W3143725865C148761745 @default.
- W3143725865 hasConceptScore W3143725865C162324750 @default.
- W3143725865 hasConceptScore W3143725865C166957645 @default.
- W3143725865 hasConceptScore W3143725865C175025494 @default.
- W3143725865 hasConceptScore W3143725865C18547055 @default.
- W3143725865 hasConceptScore W3143725865C200941418 @default.
- W3143725865 hasConceptScore W3143725865C2776071005 @default.
- W3143725865 hasConceptScore W3143725865C2776988154 @default.
- W3143725865 hasConceptScore W3143725865C2781395280 @default.
- W3143725865 hasConceptScore W3143725865C2991741723 @default.
- W3143725865 hasConceptScore W3143725865C32768728 @default.
- W3143725865 hasConceptScore W3143725865C33332235 @default.
- W3143725865 hasConceptScore W3143725865C34447519 @default.
- W3143725865 hasConceptScore W3143725865C536366893 @default.
- W3143725865 hasConceptScore W3143725865C556758197 @default.
- W3143725865 hasConceptScore W3143725865C58823610 @default.
- W3143725865 hasConceptScore W3143725865C83646750 @default.
- W3143725865 hasConceptScore W3143725865C95457728 @default.
- W3143725865 hasLocation W31437258651 @default.
- W3143725865 hasOpenAccess W3143725865 @default.
- W3143725865 hasPrimaryLocation W31437258651 @default.
- W3143725865 hasRelatedWork W1512802545 @default.
- W3143725865 hasRelatedWork W1548121730 @default.
- W3143725865 hasRelatedWork W1567997619 @default.
- W3143725865 hasRelatedWork W1581425299 @default.
- W3143725865 hasRelatedWork W1589359650 @default.
- W3143725865 hasRelatedWork W1592864990 @default.
- W3143725865 hasRelatedWork W1624510504 @default.
- W3143725865 hasRelatedWork W16899131 @default.
- W3143725865 hasRelatedWork W1867195743 @default.
- W3143725865 hasRelatedWork W2388182662 @default.
- W3143725865 hasRelatedWork W2895175451 @default.
- W3143725865 hasRelatedWork W2959792231 @default.
- W3143725865 hasRelatedWork W3121931317 @default.
- W3143725865 hasRelatedWork W3122167448 @default.
- W3143725865 hasRelatedWork W3122326178 @default.
- W3143725865 hasRelatedWork W3122808229 @default.
- W3143725865 hasRelatedWork W3122869664 @default.
- W3143725865 hasRelatedWork W3124614194 @default.
- W3143725865 hasRelatedWork W3150659842 @default.
- W3143725865 hasRelatedWork W3165332029 @default.
- W3143725865 isParatext "false" @default.
- W3143725865 isRetracted "false" @default.
- W3143725865 magId "3143725865" @default.
- W3143725865 workType "article" @default.