Some New Perspectives on India's Approach to Capital Account Liberalization

Eswar S. Prasad

NBER Working Paper No. 14658
Issued in January 2009

---- Acknowledgements -----

I thank the participants at the Brookings-NCAER India Policy Forum, and especially the discussants for this paper, John Williamson and Partha Sen, for their helpful comments. I am grateful to Arvind Panagariya for his detailed and constructive comments, which have greatly improved the paper. Rahul Anand provided excellent research assistance on this paper. I also thank Vinay DCosta for help with gathering and interpreting data on India’s capital controls. A revised version of this paper is forthcoming in the "Brookings India Policy Forum". The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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