When history repeats itself, the first time is a tragedy; the next is a farce.…
FDI and the Balance of Payments in the 2000s C.P. Chandrasekhar and Jayati Ghosh
The most quoted indicator of the success of economic reform is the noticeable rise in the inflow of foreign direct investment during the last decade and a half. However, the available Indian evidence on the performance of foreign direct investment companies suggests that their balance of payments consequences are adverse.
FDI_Balance (Download the full text in PDF format)