The "tapering talk" starting on May 22, 2013, when Federal Reserve Chairman Ben Bernanke first spoke of the possibility of the U.S. central bank reducing its security purchases, had a sharp negative impact on emerging markets. India was among those hardest hit. The rupee depreciated by 18 percent at one point, causing concerns that the country was heading toward a financial crisis. This paper contends that India was adversely impacted because it had...
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DETALHES
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2014/10/01
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WPS7071
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1
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1
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2014/10/01
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Disclosed
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From tapering to tightening : the impact of the fed's exit on India
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exchange rate
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