Kapur, Devesh
Large foreign currency reserves: insurance for domestic weaknesses and external uncertainties? - 2003 - p.1047-053. - 15 Mar
This paper, while attempting to explain India's decision to accumulate high foreign currency reserves, also analyses the resulting political-economy consequences. It is argued that the reserves are both a form of insurance against adverse external shocks as well as compensation for the inability to address long-standing domestic economic problems, a relatively unexplored theme. - Reproduced.
Currencies
Foreign exchange
Large foreign currency reserves: insurance for domestic weaknesses and external uncertainties? - 2003 - p.1047-053. - 15 Mar
This paper, while attempting to explain India's decision to accumulate high foreign currency reserves, also analyses the resulting political-economy consequences. It is argued that the reserves are both a form of insurance against adverse external shocks as well as compensation for the inability to address long-standing domestic economic problems, a relatively unexplored theme. - Reproduced.
Currencies
Foreign exchange