ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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On Participating in the International Capital Market

The rationale for participation in the international credit and capital market as welt as the domestic institutional and policy framework, essential for the purpose, are presented in this paper with particular reference to India. However, this is just for the sake of illustration; what is said about India applies to other developing countries of her type as well. For active participation, it is essential for her to adapt her macro-economic policy framework and institutional capacity to the evolving nature and characteristics of the international market. The nature and characteristics of the evolving international capital market are tersely presented in Section I. The immediacy as well as the urgency for participation in this market is the theme of Section II, while Section III deals with the prerequisites for such participation in the sphere of institutional and policy framework. Section IV stresses the need for liberalisation of the domestic financial markets. Some concluding observations are made in the final section.

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