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Despite having a low exposure to the toxic assets involved in the sub-prime crisis and a gradualist approach towards liberalization of the financial sector, certain parts of the Indian financial sector were significantly affected by the global financial crisis. The consequent tightening of...
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paper simulates the impact of a shortterm shock originating from the global financial system on small open economies in the … similarities and differences of the impact of a pure international financial shock on aggregate domestic price inflation and on … output gap for each of the four ASEAN countries. It suggests that the impact of such shock on the sampled economies tends to …
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