Indian experience of using foreign exchange policy to ensure a steady inflow of foreign direct investment, applicable to Russia's economy
Vasyukov E.A.1
1 Московский государственный университет им. М.В. Ломоносова
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Journal paper
Russian Journal of Entrepreneurship *
Volume 18, Number 12 (June 2017)
* Этот журнал не выпускается в Первом экономическом издательстве
Abstract:
The article considers the Indian experience in ensuring a steady inflow of foreign direct investment to achieve high economic growth rates due to the active participation of the Central Bank in the use of foreign exchange policy instruments. We analyze in detail the dynamics of inflow of foreign direct investment during 2011-2016. We show the reasons for the dramatic changes and the measures that allowed overcoming negative trends in the shortest possible time. As a result of the study, we identify the key factors that promote not only successful recovery of the Indian economy, but also the transition to sustainable economic growth. Due to the fact that the economies of our two countries have a lot in common, we suggest a set of measures taken from the experience of the Indian Central Bank, which could be applied in the conditions of Russia’s economy.
Keywords: economic development, russian economy, foreign direct investment, foreign exchange policy, Indian economy
JEL-classification: R11, F21, O24
References:
Cushman D. O. (1985). Real Exchange Rate Risk, Expectations, and the Level of Direct Investment Review of Economics and Statistics. 67 (2). 297-308.
Cushman D. O. (1988). Exchange Rate Uncertainty and Foreign Direct Investment in the United States Weltwirtschaftliches Archiv. 124 (2). 322-336. doi: 10.1007/BF02706782.
Datt R., Sundharam K. P. M. (2009). Indian Economy New Delhi: S. Chand Group.
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