| Author: | Siddiki, J. |
| Title: | Black market exchange rates in India: an empirical analysis |
| Journal: | Empirical Economics
2000 : VOL. 25:2, p. 297-314 |
| Index terms: | EXCHANGE RATES COINTEGRATION ERROR CORRECTION MODELS |
| Language: | eng |
| Abstract: | In this paper the author explores the determinants of black market (BM) exchange rates in India using annual data from 1955-1994 and integration and cointegration analysis. Two important factors, namely the import capacity of official foreign exchange reserves and restrictions on international trade, have largely been ignored as determinants of BM rates. The author stresses the importance of these two factors. |
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