RBI’s Subbarao says capital flows are advisable
Duvvuri Subbarao, the governor of the Reserve Bank of India, on Thursday said capital controls are not only unavoidable, but advisable in certain circumstances.
At the South Asia Research Centre of the Australian National University in Canberra, Australia, Subbarao said: "Critics maintain that capital controls are distortionary, largely ineffective, difficult to implement, easy to evade and that they entail negative externalities. On the other hand, supporters of capital controls argue that
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