Title:Demonetization Comparatistics: India and Others (page 5-13)

Authors: Kishore G. Kulkarni and Poornima Tapas
Journal: SCMS Journal of Indian Management
Publication date: 2017
Publisher: SCMS Journal of Indian Management
URL: click here


The demonetization decision was believed to have been taken to tackle the rampant corruption, unrecorded (or black money), and control the fake currency that often finances terror activities. Within one week, it was apparent that this step has created big inconvenience as there was severe shortage of new currency. This was not the first such attempt of demonetization in the world. Other countries have tried it before and have experienced consequences of doing this. The present paper is an exercise in examining other demonetization attempts, and compare them with the Indian situation. Our purpose is to do a survey of macroeconomic situation after demonetization