Kapur, Devesh <br/><br/>
Large foreign currency reserves: insurance for domestic weaknesses and external uncertainties? 

 -  2003 
 - p.1047-053. 
 - 15 Mar 
<br/><br/> 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. 
<br/><br/><label>Subjects--Topical Terms: </label><br/>Currencies<br/>Foreign exchange