Financial developments in India: should India introduce capital account convertibility?
The objective of this paper is to examine whether India has reached a stage of financial development when full capital account convertibility could be introduced. In its report on capital account convertibility the Tarapore Committee provided a succinct and subtle definition: capital account convertibility is the freedom to convert local financial assets into foreign financial assets and vice-versa at market determined rates of exchange. It is associated with changes of ownership on...[Show more]
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