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The challenges of opening up India's capital account
(Indian Institute of Management Ahmedabad, 2014-02-17)
A key objective for any open economy is to avoid a financial or balance of payments crisis – a goal that often calls for trade-offs between liberalisation and maintaining control of the economy. This column explores the ...
Demonetization 2016 and Black Economy
(Indian Institute of Management Ahmedabad, 2017-11-07)
On 8 November 2016, India demonetized high denomination currency, wiping out 86 per cent of the currency in circulation. India’s well-functioning economy went into a tailspin.
This move, it was claimed, was made ...