Measuring Illegal Outflows from the Indian Economy
Some Methodological Issues
The paper "An Empirical Study on the Transfer of Black Money from India: 1948-2008" (EPW, 9 April 2011) by Dev Kar suffers from defi nitional and methodological fl aws. As a result, it is not very clear what is being captured in the estimate - illicit fi nancial fl ows, gross capital fl ight or net capital fl ight.
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