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Table Of Contents

I. Introduction
II. Salient Developments in the Indian Economy Since Independence
1947-1950 (Between Independence and the Creation of a Republic)
1951-1965 (Phase I)
1966-1981 (Phase II)
1982-1988 (Phase III)
1989-2008 (Phase IV)
1991 Reform in the historical context
III. The Evolution of Illicit Financial Flows
Methods to Estimate Illicit Financial Flows
Limitations of Economic Models
Reasons for Rejecting Traditional Models of Capital Flight
How Illicit Flows Have Evolved
A. 1948-2008 (Entire Sample Period)
Chart 1. Cumulative Illicit Financial Flows and as Percent of GDP: 1948-2008
B. Illicit Flows During the Pre- and Post-reform periods
IV. A Block Recursive Dynamic Simulation Model of Illicit Flows
Overview of the Model
Estimating the System of Equations
Table 4. Government Revenues – 2SLS – estimation output
The Evolution of Infationary Expectations
Table 5. Money Supply – 2SLS – estimation output
Table 6. Illicit Flows (CED+GER) – OLS – estimation output
Chart 3. Results of Dynamic Simulation: 1952-2008
Detailed Analysis of Results
Chart 4. Trade Openness and GER (Trade Mispricing outfows): 1948-1990
Chart 5. Trade Openness and GER (Trade Mispricing outfows): 1991-2008
Growth, Inequality, and Illicit Flows
Table 7. GER to Trade Openness Regression Estimation Output: 1991-2008
Table 8. Correlation Matrix between CED+GER, Growth and GINI; 1991-2005
Chart 7. Illicit Flows and Income Inequality: Post-reform 1991-2005
Table 9. Correlation Matrix between CED+GER, Growth and GINI; 1951-1990
Limitations of the Model
Augmented Dickey-Fuller Test for Unit Root
Table 10. Augmented Dickey Fuller Test of CED+GER Series
Table 11. Augmented Dickey Fuller Test of the First Difference of CED+GER
Table 12. Augmented Dickey Fuller Test of Traditional Method IFF Series
V. The Absorption of Illicit Flows from India
Limitations of BIS Data on Non-Bank Private Sector Deposits
Financial Centers and Developed Country Banks: 1996-2009 (in percent)
VI. Policy Implications for Curtailing Illicit Financial Flows
VII. Conclusions
References
Appendix
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Illicit Financial Flows From India 1948-2008 - D. Kar

Illicit Financial Flows From India 1948-2008 - D. Kar

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categoriesBusiness/Law
Published by: postandspread on Dec 30, 2010
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11/10/2011

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