Examines how close India's economy is to achieve full capital account convertibility.
Written in 2006; 4,807 words; 10 sources; APA; $ 123.95
Paper Summary:
The process of globalization has gathered momentum, mainly due to the rapid increase in cross-border capital flows stimulated by trade liberalization and rapid diffusion of IT. The IMF spearheaded the issue of freer capital mobility or capital account convertibility in order to spread the benefits of globalization to developing economies. However, a spate of currency crises resulting in sudden capital flow reversals plunged countries that had achieved miracle growth rates with open capital accounts into economic turmoil. This paper reviews the up-to-date performance of India on this front. It analyzes the pre-conditions suggested by Tarapore Committee on full capital account convertibility in India in view of the empirical evidence on each of them. On the basis of these findings, the paper arrives at the extent of preparedness India has achieved towards full capital account convertibility.
The paper includes many graphs and tables.
Paper Outline:
Introduction
Opportunities and Risks of Full CAC
Required Pre-conditions and Achievement on Them
Concluding Remarks
References
From the Paper:
"Generally, it is argued that full capital account convertibility is beneficial for the economy but several caveats had to be put after learning lessons from the Asian Currency Crisis of 1997. The general belief before the crisis had been that CAC and complete financial openness ensure efficient allocation of global resources, promote higher growth and discipline the domestic macroeconomic policies. The countries that had capital controls in place escaped the contagion of the crisis, which revealed that Capital controls can be effective".
We have thousands of high-quality term papers, research papers, essays, book reports and dissertations on every topic. At AcaDemon, you can download those term papers to help you write yours! You can be sure that the term paper, essay, book report or research paper you download are top-quality, competitively priced and high-level work.
Look for more research papers, essays and book reports on Indian Economy
If you can't find your topic here, try another search
or try our affordable, unique custom paper alternative
Custom Research Services include:
Papers written from scratch, according to your specifications. Every paper is UNIQUE - Guaranteed
This Free Term Paper Abstract is a part of our Term Paper Library.Here you can purchase research papers, examples of essays, academic dissertations, articles, notes, analytical papers, book reports, stories and poems. We have thousands of persuasive, point-of-view, narrative, critical, compare and contrast and other types of essays in our Library. You can also find here Term papers on "Indian Economy", Essays on "Indian Economy", Research papers on "Indian Economy", Student papers on "Indian Economy", Book reports on "Indian Economy", Dissertation on "Indian Economy", Thesis on "Indian Economy", Summary of paper on "Indian Economy", Articles written on "Indian Economy".
Look for more research papers, essays and book reports on