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The downward rigidity of Indian interest rates

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Date

2002-01

Authors

Jha, Raghbendra

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Volume Title

Publisher

Crawford School of Public Policy, The Australian National University

Access Statement

Open Access

Research Projects

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Journal Issue

Abstract

This paper tries to assess why lowering interest rates is proving to be hard in India. It singles out the role of three factors: (i) high public debt and the structure of this debt, (ii) the overhang of non-performing assets and (iii) the policy being pursued with respect to accumulation of foreign exchange reserves. These three factors are causally linked to each other and should not be looked upon as mutually exclusive contributors.

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URI

https://hdl.handle.net/1885/733747283

Collections

Australia South Asia Research Centre Working Papers (ASARC)

Source

Australia South Asia Research Centre Working Papers

Type

Working/Technical Paper

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Entity type

Publication

Access Statement

Open Access

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Restricted until

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