peers, China and Brazil, to learn from their respective paths and experiences in similar regard. The paper concludes by … EMEs exploiting the opportunity. India also launched its rupee-denominated bond (masala bond) abroad in 2013, seeking to …

financially than the Chinese economy, but China seems to be catching up with India in the wake of the global financial crisis … Chinese money markets, in contrast to the consensus projection that China is likely to experience net private capital outflows …

This paper reviews the steps that China has taken towards financial reform with a particular focus on capital account …, China's debt has doubled, reaching levels that are clearly above those of most emerging markets. This increases the risks … embedded in financial reform and, in particular, capital account liberalisation. At this juncture, however, China has no option …

Managing capital flows is the key policy challenge for emerging economies like India in the aftermath of the crisis. In … contrast to other emerging markets who are levying capital controls, India's macro-monetary framework is distinguished by … significant restrictions that help manage inflows. Against this context, the paper characterizes India's capital account …