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COVER
STORY
Capital
Account Convertibility in India
Krishna Prasanna P
Discussions
on Capital Account Convertibility (CAC) is long prevailing
in India. We have convertibility, though not fully.
This article explains the details of CAC and the relative
advantages and disadvantages of having full CAC.
©
2006 IUP . All Rights Reserved
COVER
STORY
Capital
Account Convertibility ;Is India Ready to be Accountable?
U Jayalakshmi Srikumar
The
buzzword, `Capital Account Convertibility has stimulated
intellectual thinking once again. The pros and cons
are being discussed extensively and the fundamental
question that all are attempting to answer is whether
India is ready for the challenge of making its capital
account fully convertible. There are two schools of
thought which are distinct in their approach and thinking.
One group strongly feels that India can certainly make
its capital account fully convertible given the premise
of increasing foreign exchange reserves, while the other
group has strong pessimistic feelings in this regard.
©
2006 IUP . All Rights Reserved
COVER
STORY
Economies
of Capital Account Convertibility
MS Srikanth
Capital Account Convertibility (CAC) is already
in India, though not fully in place. This article throws
light on the economic benefits of CAC of Indian rupee
and draws comparisons with other nations.
©
2006 IUP . All Rights Reserved
FOREX
Liberalization
of Indias Foreign Trade : Boon or Bane
Anil Kumar Goyal VK Gupta
Foreign trade is an important constituent of any
economy. Since 1991, a series of reforms and liberalizations
have been taking place with both positive as well as
negative effects. This article evaluates liberalization
of Indias foreign trade with respect to export, import,
Indias share in world trade, balance of payments, trade
deficit and FDI.
©
2006 IUP . All Rights Reserved
FOREX
WTO
and World Multilateral Trading System are in Danger
Badar Alam Iqbal
After
witnessing the outcome of Ministerial Meetings at Seattle,
Cancun and Hong Kong, the opinion that the existence
of WTO and the presence of productive and purposeful
multilateral trading system are in a crisis, is fast
taking shape. There are indications that bilateralism
may emerge as an alternative to global trade. This should
not happen at any cost as it may have far reaching impact
and implications for both developing and developed economies.
©
2006 IUP . All Rights Reserved
FOREX
Asian
Common Currency : A Distant Reality!
K Seethapathi Arindam Banerjee
The idea of having a common Asian currency was conceived
after the South East Asian countries faced currency
crises in the late 1990s. It was felt that, having a
common currency would provide enough stability to counter
such problems in future. Coupled with this, the strengthening
of euro as the European common currency further championed
the cause of having a unified currency across Asia.
This article discusses the feasibility of Asian common
currency in the backdrop of the recently concluded 39th
annual convention of the Asian Development Bank.
©
2006 IUP . All Rights Reserved
FOREX
Exporters
to go for PCFC or Rupee Loans?
Mathew John
The
Indian rupee has witnessed considerable volatility since
the beginning of this fiscal. The repatriation of Indian
Millennium Deposits early this year put considerable
pressure on the rupee liquidity. The rising LIBOR rate,
compelled with a falling dollar, have put exporters
in a dilemma whether to go for PCFC or rupee loan.
©
2006 IUP . All Rights Reserved
FOREX
Foreign
Exchange Reserve Management in China : Lesson for India
Sanjeev Kumar
Since liberalization, Indian forex kitty has been
growing consitently and has become one of the growth
parameters of the economy. But, having good forex reserves
is only one aspect of a growing economy. Proper utilization
of the same leads to better results. The Chinese experience
may teach us some lessons.
©
2006 IUP . All Rights Reserved
BOOK
REVIEW
The
Dynamics of Indian Financial Markets
K Seethapathi
Postliberalization
the Indian Financial system has witnessed remarkable
structural changes, which have thrown up several new
challenges. A rebound in the share market, buoyant forex
reserves and a growing confidence in the banking system
are some of the significant developments in the financial
markets. The book discusses divergent issues like the
Indian economy, banking, the stock and the debt markets,
and forex market in greater detail.
©
2006 IUP . All Rights Reserved
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