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India's Failed Demonetization Program and Its Retreating Economic Defenders

Larry White/September 28, 2017June 19, 2022

Dormant for a while, the debate over India’s demonetization program of last fall has been revived by new evidence. The new evidence on note returns and GDP vindicates the critics, and has the defenders in strategic retreat. To recap: On November 8, 2016, India’s Prime Minister Narendra…

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