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タイトル: Did India's Capital Control Regime Insulate It from the Asian Financial Crisis? : Some Preliminary Observations
著者: Sharma, Shalendra D.
キーワード: India's economy
capital controls
financial crises
economic liberalization
発行日: 2004-3
出版者: The Institute of Comparative Economic Studies, Hosei University
抄録: While India was not entirely immune to the Asian financial crisis of l997-98, it was less affected by other countries in the region. To what extend India's relatively closed capital account regime insulated it from the financial contagion raging in its midst? This paper illustrates that although India's strong foreign exchange reserves position, the flexible exchange rate policy, the large size of the domestic markets and the relatively weak trade and financial linkages with the international economy were important factors in reducing financial market contagion and trade spillovers, it was India's comprehensive capital control regime which was crucial in reducing the country's external vulnerability.
URI: http://hdl.handle.net/10114/761
ISSN: 09111247
出現コレクション:Journal of International Economic Studies


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