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In this paper, I analyze India's approach to capital account liberalization through the lens of the new literature on financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has served the economy well in terms of reducing its...
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considered. Highly leveraged households are more vulnerable in times of stress, and their debt servicing capabilities might …
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boom, the slump and the sudden stop. Productivity growth remains low. Because of high debt and low growth, the recovery … increased fiscal deficit, even in the face of high public debt. The second is product market reforms, and reforms aimed at …
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