This paper investigates the relationship between capital account openness and inflation since the 1980s. It argues that widespread capital account liberalization during the last two decades appears to have contributed to the worldwide disinflation observed during the same period. The paper...

This paper analyses the impact of the global financial crisis on India. Contrary to early beliefs, India was significantly affected by this crisis through the trade and financial channels. Moreover, India was at an especially vulnerable point when the crisis hit as it was already experiencing an...