00840pab a2200157 454500008004000000100001800040245009900058260000900157300001600166362001100182520039900193650001500592650002100607700002000628773003400648180718b2003   xxu||||| |||| 00| 0 eng d  aKapur, Devesh  aLarge foreign currency reserves: insurance for domestic weaknesses and external uncertainties?  c2003  ap.1047-053.  a15 Mar  aThis 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.  aCurrencies  aForeign exchange  aPatel, Urjit R.  aEconomic and Political Weekly