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 …

From the early 1990s, India embarked on easing capital controls. Liberalization emphasized openness towards equity …

In this paper, I analyze India's approach to capital account liberalization through the lens of the new literature on … financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has … the key challenge now facing India's policymakers on this front. -- India ; international financial integration ; capital …