LEADER 04090nam 2200697 450 001 9910464001303321 005 20211022210224.0 010 $a1-4623-9212-1 010 $a1-4527-7733-0 010 $a1-4518-6990-8 010 $a1-282-84083-5 010 $a9786612840838 035 $a(CKB)3170000000055037 035 $a(EBL)1607889 035 $a(SSID)ssj0000943992 035 $a(PQKBManifestationID)11559068 035 $a(PQKBTitleCode)TC0000943992 035 $a(PQKBWorkID)10978556 035 $a(PQKB)10217571 035 $a(OCoLC)763002643 035 $a(MiAaPQ)EBC1607889 035 $a(EXLCZ)993170000000055037 100 $a20140226h20082008 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aChallenges to monetary policy from financial globalization $ethe case of India /$fCharles F. Kramer, He?le?ne K. Poirson, and A. Prasad ; authorized for distribution by Kalpana Kochhar 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (45 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/131 300 $aDescription based upon print version of record. 311 $a1-4519-1443-1 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. How Financially Globalized is India?; A. International Comparison; B. India's Globalization over Time; III. How Does Financial Globalization Affect the Monetary Environment?; IV. Possible Policy Responses; A. How Could Further Financial Globalization Affect Monetary Operations?; B. How Could Further Financial Globalization Affect Monetary Strategy?; Boxes; 1. India: Key Capital Account Restrictions; 2. Turkey; 3. Malaysia; Table; 1. Monetary Instruments in the Most Financially Globalized Countries; Figures; 1. Measures of Financial Openness 327 $a2. Measures of Capital Account Openness, 2000-05 3. Financial Openness and Policy Regime, 2000-06; 4. India: Capital Flows; 5a. India: Foreign Exchange Market; 5b. India: Monetary Conditions; 6. Measures of Volatility; 7a. Financial Operations and Exchange Rate Volatility, 2000-06; 7b. Financial Openness and Exchange Market Pressure Index, 2000-06; 8. Financial Openness and Volatility in Monetary Conditions Index, 2000-06; 9. Financial Openness and Volatility in Reserve Money, 2000-06; 10. Financial Openness and Correlation with U.S. Monetary Conditions Index, 2000-06 327 $a11a. Policy Regime, Financial Openness, and Volatility in Monetary Conditions Index, 2006-06 11b. Policy Regime and Foreign Exchange Market, 2000-06; 12. Capital Flows and Central Bank Transparency, 2000-05; Appendix; References 330 $aThe question of how India should adapt monetary policy to ongoing financial globalization has gained prominence with the recent surge in capital inflows. This paper documents the degree to which India has become financially globalized, both in absolute terms and relative to emerging and developed countries. We find that despite a relatively low degree of openness, India's domestic monetary conditions are highly influenced by global factors. We then review the experiences of countries that have adapted to financial globalization, drawing lessons for India. While we find no strong relationship 410 0$aIMF Working Papers 606 $aMonetary policy$zIndia 606 $aFinance$zIndia 606 $aGlobalization$zIndia 608 $aElectronic books. 615 0$aMonetary policy 615 0$aFinance 615 0$aGlobalization 676 $a332.4954 700 $aKramer$b Charles Frederick$01054124 701 $aPoirson$b He?le?ne K$01054125 701 $aPrasad$b A$0891410 701 $aKochhar$b Kalpana$0989272 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464001303321 996 $aChallenges to monetary policy from financial globalization$92486475 997 $aUNINA