An autonomous research institute under the Ministry of Finance


Did the Indian Capital Controls Work as a Tool of Macroeconomic Policy?

Publication date

Jan, 2010


Report submitted to the Department of Economic Affairs, Ministry of Finance, Government of India


Ajay Shah, Ila Patnaik


In 2010 and 2011, there has been a fresh wave of interest in capital controls. India is one of the few large countries with a complex system of capital controls. These studies assess the extent to which these help achieve goals of macroeconomic and financial policy.

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