Assessing External Sustainability in India /

This paper examines the solvency and sustainability of India's external imbalances and analyzes the optimality of its capital flows. We use three approaches: an intertemporal model of the current account that allows for capital controls; a composite model of macroeconomic indicators that yields...

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Chi tiết về thư mục
Tác giả chính: Callen, Tim
Tác giả khác: Cashin, Paul
Định dạng: Tạp chí
Ngôn ngữ:English
Được phát hành: Washington, D.C. : International Monetary Fund, 1999.
Loạt:IMF Working Papers; Working Paper ; No. 1999/181
Truy cập trực tuyến:Full text available on IMF
Miêu tả
Tóm tắt:This paper examines the solvency and sustainability of India's external imbalances and analyzes the optimality of its capital flows. We use three approaches: an intertemporal model of the current account that allows for capital controls; a composite model of macroeconomic indicators that yields probabilities of future balance of payments crises; and scenarios that examine the path of the current account consistent with the stabilization of India's external liability-to-GDP ratio. The results indicate that India's intertemporal budget constraint is satisfied and that the path of its current account imbalances is sustainable, with some support for the optimality (given capital controls) of its external borrowing.
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Mô tả vật lý:1 online resource (30 pages)
Định dạng:Mode of access: Internet
số ISSN:1018-5941
Truy cập:Electronic access restricted to authorized BRAC University faculty, staff and students