Operationalising Capital Account Liberalisation: The Indian Experience

The full text article is temporarily unavailable.

We apologise for the inconvenience. Please try again later.

Download / Buy Article:


Although influenced by particular contextual factors that may not be capable of being generalised, the Indian experience of capital account liberalisation tends to vindicate a process approach, with the emphasis on caution and gradualism. This article explains the policy framework that governed liberalisation in the 1990s, and describes the current framework of controls; various facets of the Indian approach to managing the capital account; and current thinking on appropriate further steps. To date, the accent has been on progressively replacing administrative controls with prudential limits on transactions, these norms being guided by the country's absorptive capacities and financing needs, and by the need to achieve a mix of short-term and long-term, debt and non-debt, and stable and volatile flows.

Document Type: Research Article

Affiliations: Deputy Governor, Reserve Bank of India

Publication date: January 1, 2001

Related content



Share Content

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more