Friday, December 21, 2007

Paper on PNs

Manmohan Singh has written a good IMF working paper on participatory notes in India. I have checked and I'm sure this URL works.


  1. Dear Doc,

    The link to the paper is faulty. It does not return the PDF document.

    The file apparently has some error.

    Just FYI.

    Regards - Shankar, Powai

  2. the link to the paper is,

    if there are still problems, the download it directly from IMF's external website

    It is in the first column where recent working papers arer listed as working apper 07/291

  3. great paper;
    section 3 really tells (read footnotes also)why such FII flows are not 'sticky' money. Given the present difficulty in mopping up FI flows (due to the negative carry),about time such measures were put. In retrospect, very good move by SEBI!
    Appendix 1 is also interesting.

  4. still cannot find this paper on the web; can anyone post it?

  5. right click on the words Free Full Text that appears in orange on the link below; then save to desktop before opening,

  6. I could not find the paper will somebody help .....

  7. to Sunny
    right click on this link; then save to desktop; then open. It worked for me,

    the very first comment has a link that ends in 0729..but paper is 07291. Just use the link on this comment

  8. this link works

    will indian domestic investors be able to fill in the void left by any unwinding of PNs?

  9. excellent paper. gives a complete picture of the PNs

  10. PNs will unwind as we approach March 09; expect downward pressure around those days and volatility. These ODI positions keep getting rolled over as they are valuable due to their scarcity and being 'extint' very soon.


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