Nachane, D.M.; Raje, Nishita - In: Margin: The Journal of Applied Economic Research 1 (2007) 1, pp. 47-83
It is generally believed that financial liberalisation erodes the potency of monetary policy by rendering tenuous the link between monetary aggregates and important macro-economic magnitudes (such as income, prices and exchange rates). This could be accounted for by several factors such as the...