ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Risks and Rewards of Capital Account Convertibility

This article discusses whether capital account convertibility can or should be an objective or a means towards achieving more fundamental macroeconomic goals. It presents an overview of the risks and rewards of convertibility and debates the issue of freely floating versus managed exchange rates and their implications for a developing economy.

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