Please use this identifier to cite or link to this item: http://hdl.handle.net/11718/25488
Full metadata record
DC FieldValueLanguage
dc.contributor.authorDeodhar, Satish Y.-
dc.date.accessioned2022-03-01T11:43:16Z-
dc.date.available2022-03-01T11:43:16Z-
dc.date.issued2021-11-01-
dc.identifier.citationDeodhar, S. Y. (2021). Gold is Old: Noble Metal in Indian Economy through Ages. IIM Ahmedabad.en_US
dc.identifier.urihttp://hdl.handle.net/11718/25488-
dc.description.abstractFor millennia, gold is considered auspicious in India and consumers have a fascination for possessing gold, gold jewellery, and gold coins. In this paper I document the sacredness associated with gold, the ancient Indian references to gold jewellery, availability and technology of extracting gold in those times, minting of gold coins and its function as a medium of exchange and store of value, and accumulation of gold stock due to favourable trade with the Occident in the common era. I draw attention to Indian obsession with gold in modern times, when none is produced domestically and it contributing negatively to India’s external account. The gargantuan stock of about 24,245 tonnes of gold in India has to be considered as accumulated hoardings and not accumulated savings. Along with increasing the propensity of flow of savings going into financial markets and not in physical gold; suggestions are made to popularize and improve implementation of gold monetization scheme (GMS). This will re-channel idle stock of gold into financial markets and reduce deficit on the external account.en_US
dc.language.isoenen_US
dc.publisherIndian Institute of Management Ahmedabaden_US
dc.subjectMoneyen_US
dc.subjectGolden_US
dc.subjectGold hoardingsen_US
dc.subjectGold importsen_US
dc.subjectGold jewelleryen_US
dc.subjectGold coinsen_US
dc.subjectFinancial savingsen_US
dc.subjectInvestmentsen_US
dc.subjectIndiaen_US
dc.subjectGold Monetization Scheme (GMS)en_US
dc.subjectVedasen_US
dc.subjectUpanishadsen_US
dc.subjectJatakaen_US
dc.subjectMahabharataen_US
dc.subjectKautilyaen_US
dc.subjectArthashastraen_US
dc.subjectSanskriten_US
dc.titleGold is old: noble metal in Indian economy through agesen_US
dc.typeWorking Paperen_US
Appears in Collections:Working Papers

Files in This Item:
File Description SizeFormat 
33.pdfGold is Old: Noble Metal in Indian Economy through Ages437.97 kBAdobe PDFView/Open


Items in IIMA Institutional Repository are protected by copyright, with all rights reserved, unless otherwise indicated.