RBI paper measures threshold of sustainable current account deficit in India


A working paper published by the Reserve Bank of India on August 8 suggests changes in the Indian economy over the past two decades have led to a higher sustainable level of the current account deficit.

The author, Rajan Goyal, says a spike in the current account deficit in 1991 caused a balance of payments crisis in India and nearly led to a government default. Based on data for 25 crises in nine emerging economies over the period 1970–2010, the paper identifies the main factors affecting

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: