Large foreign currency reserves: insurance for domestic weaknesses and external uncertainties?
By: Kapur, Devesh.
Contributor(s): Patel, Urjit R.
Material type:
ArticlePublisher: 2003Description: p.1047-053.Subject(s): Currencies | Foreign exchange
In:
Economic and Political WeeklySummary: 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.
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Articles
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Indian Institute of Public Administration | Volume no: 38, Issue no: 11 | Available | AR56253 |
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.
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