Posted in: Community Level
Community Policing: A Viable Panacea for the crime of Burglary
By
Osasumwen Osaghae
December 2008
The Crime of Burglary
The crime of burglary has several components. Some of the elements have provoked disagreement. One of such elements is what constitutes a dwelling place. Section 111(5) of the powers of Criminal Courts (sentencing) Act, 2000 provides that a domestic burglary committed in respect of a building which is a dwelling. The Article
Meaning of Domestic Burglary: When Is an Outbuilding a Dwelling? (Kalu, 2008) examined the meaning of a dwelling. According to the writer, dwelling is not defined in the 2000 Act. The writer then preferred the common meaning of the phrase dwelling place. The article reviewed the case of R Vs Rodmell in which the accused was convicted of burglary in a shed which the victim protected with burglary alarm. The frontier of dwelling house was extended to include shed. The writer disagreed with the judgment and the rationale for the judgment. The basis for the disagreement was the judge’s omission to define a dwelling house thereby leaving the premise for the judgment to ideological guesses. The writer then suggested that “dwelling” be given its literal and natural meaning of abode (inhabited) instead of the legal forest created by the unclear judgments on the matter.
Swaray (2006) considered the nexus between expectations of burglaries and actual burglaries. There was the belief even though unfounded that the apprehension of people that their homes were likely to be burglarized was misplaced. But the study found otherwise. Titled On the relationship between the public’s worry about safety from burglary and probabilities of burglary: some evidence from simultaneous equation models, the paper flawed the policing policy of the government in dealing with burglary cases and contended that the policing methods are not customized enough to ease the burde
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n of burglary on the citizens. The article discussed burglary in the United Kingdom and Wales. The writer employed a combination of qualitative and quantitative research methods to identify the relationship between the fear of burglary and burglary itself. The writer argued that environmental variables encompass physical and social dimensions of neighborhoods and public places that people frequent during the course of their daily activities. The effect of the fear is to create insecurity laced with apprehension which in turn reduces quality of life. The author concludes that there is indeed a relation between the cognitive and the emotional aspects of the problem. The study found that there is strong interdependence between households worry about burglary and actual and perceived probabilities of burglary.
Sorensen (2007) considered alternative policing as an option to the traditional policing method. The writer identified three basic approaches to burglary reduction, although the boundaries between them are not always clear. The three approaches are (a) reducing underlying motivations for crime; (b) pro active/problem oriented policing; and (c) situational crime prevention. This article focused on situational crime prevention, which concerns the management, design, and manipulation of the immediate physical and/or social environment with the aim of making crime appear more difficult, more risky, or less rewarding in the eyes of potential offenders. The article is based on burglary in the Scandinavian countries. The writer noted that earlier studies in Burglary did not include evaluation processes for the experiments and so he improved on the state of the literature by including an evaluation process in his study. The article titled Randomized experiment on burglary reduction, argued that multi-tactic approach to reducing burglary may not be the best approach as it obscures the actual working tactic and cloaks an ineffective method with a “working” garb. Sorensen (2006) concluded that a study such as his own may not lead to unambiguous conclusions. He would therefore recommend further enquiries in the area.
Community Policing
Burglary has been on the increase and has tended to defy traditional policing. Community policing has been recommended as a more effective way of dealing with the problem. Community policing is based on the recognition of a geographical unit (city) as consisting of many neighborhoods with particular sets of qualities and service needs. It is a customized model of service delivery tailored to meet the needs of particular communities. Community policing consists of two complementary core components; “community partnership and problem solving”, (Community policing consortium cited in Oittemeier & Wycoff).
Changing policing practices, wider social divisions have led to the transfer of policing responsibilities from the state to an assortment of public, private and voluntary agencies like the community youths, neighborhood watch and the vigilantes, (Johnston as cited in Yarwood, 2007). Policing efforts would fail if the community does not embrace the policing strategy. In the same vain, community policing is bound to fail if the citizens cannot trust the police force in their community. In extreme cases of failed loyalty, the citizens protect the criminals in their midst than they cooperate with criminals in their communities because social commonality as in race, religion and economic standing.
Community policing has taken on different names and conceptualizations such as “neighborhood watch”, “vigilantes” (Fleisher as cited in Fourchard, 2000), “anti-thief and anti-witch organizations, (Heald as cited in Fourchard, 2000). The article titled Histories of Yoruba Vigilantism is a case study of a local form of community policing that is in use in the Southern Nigeria city of Ibadan. There is a mixture of failed loyalty on the part of the people in the city and a loss of confidence. The result is that the people are more comfortable with non state policing comprising the locals in the society with an effective information network which was found to be lacking in the operations of the state police. Fourchard (2000) argued that the rise in the activities of vigilantes is an indication of the failure of the traditional policing model and a remarkable increase in the level of crime in the society among other crimes, burglary. ‘Vigilante’ in Nigeria is a term initially used by the police in the mid-1980s as a substitute for an older practice present since the colonial period and referred to as the ‘hunter guard’ or ‘night guard’ system. Colonial administration in western Nigeria either tacitly authorized it or legalized it, giving rise to an enduring continuity of these non-state forms of policing. The article traced the origins of Vigilantes to pre-colonial Nigeria when the British found it hard to curb crimes. The concept of the community has been evolving constantly with rules and safeguards being put in place to ensure that the powers were not abused. The rules and safeguards are understandable giving the non state nature of the vigilantes. One of the challenges of community policing is the potential for the abuse of the power conferred on the local policing agents. In contrast to the argument of Fourchard (2000), some of the vigilantes have themselves become the criminals because of state approval of their activities and the arms some of them are given. The article concluded that some characteristics of the community policing method in Southern Nigeria have remained to this day and have had the impact of reducing crimes such as burglary in the city concerned. Some of the practices are the curfew system, erection of gates along the streets to reduce access to and from the streets. The Curfews ensure that people stay more at home with various times set for the curfews. In most cases, people were forbidden from moving about from 8.00 pm to 6.00 am. This made a lot of sense since most of the burglaries (burglaries used in loose sense) were committed at night. Even when the curfews were stopped, the people still return home at about the time set for the curfews feeling that it was not safe to be out after the set curfew period. This had the effect of reducing break ins and burglaries as the criminals refrained from going into the homes where there were people. More than any thing else, the article shows that community policing in association with other safety precautions would reduce burglary but not in isolation.
Among several theories, there is the theory which states that when geographical locations are reduced, crime watch is made easier. A body of theory predicts that increases in the aggregate risk of apprehension within geographic territories may lead to crime reduction. The theory has variously been referred to as structural deterrence, (Sampson & Cohen, as cited in Kane, 2006), or ecological deterrence, (Bursik, Grasmick & Chamlin, as cited in Kane 2006). The theory refers basically to community policing, (Kane, 2006). The article titled On the Limits of Social Control: Structural Deterrence and the Policing of “Suppressible” Crimes discussed the theory of deterrence and its waning influence in explaining criminal propensity. The article examined the development of threat estimates that people make about their local environments and the processes by which they may transmit those threat estimates to people within their social networks. Researchers have applied the threat estimate framework to such environmental hazards as floods, traffic accidents, fires, and oil spills, generally finding that increases in perceptions of risk along the hazardous outcomes are often associated with changes in individuals’ behaviors within discrete environmental settings. The study attempted to fill these gaps by examining whether variations in the risk of apprehension across geographic territories has predicted variations in subsequent crime rates (robbery and burglary) within police precincts over time in a major urban setting. The study integrated the primary methodological and theoretical advances highlighted in the macro-deterrence literature by specifying a longitudinal design, using the community (i.e., police precinct) as the unit of analysis, and incorporating arrest activities independent of known crimes and clearances as the apprehension threat variable.
Conclusion
Community policing remains the most viable option for curbing burglary and other property crimes. As indicated above, the system will not work in isolation but in conjunction with other measures presents a viable option for combating burglary in the society. Community policing would depend largely on environmental influences in order to be effective. Community policing is based largely on interpersonal relationships and information sharing between community inhabitants and the policing authority. If there is at anytime, a loss of confidence or a communication gap, community policing may fail. This is one feature working in favor of public policing in that it does not have to rely on cooperation from the citizens wholly
References
Fourchard, L. (2008) A new name for an old practice: Vigilantes in south-western
Nigeria Africa 78 Vol. 1
Kalu, A (2008) Comment: Meaning of Domestic Burglary: When is an outbuilding
a dwelling? Crime Policy Report Vol. 3
Kane, R. J. (2006) On the Limits of Social Control: Structural Deterrence and the
Policing of “Suppressible” Crimes Justice Quarterly, Vol. 23 No. 2
Moore, 2003 retrieved from
http://www.policeforum.org/upload/BottomLineofPolicing_576683258_1229200520031.pdf on 07/15/08
Oittemeier & Wykoff retrieved from
http://www.policeforum.org/upload/perfeval_570119206_12292005152535.pdf
on 08/1/08
Ruth, R. S. & Reitz, K. R. (2003) The Challenge of crime: Rethinking our response,
Cambridge, Mass. Harvard University Press
Sorensen, D. W. M. (2007) Scandinavian Prospects for a Place-Based Randomized
Experiment on Burglary Reduction, Journal of Scandinavian Studies in criminology and Crime Prevention, Vol. 8
Yarwood, R. (2007) The Geographies of policing Progress in Human Geography
Vol. 31 No. 4
Osasumwen Osaghae
Posted in: Community Level
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Community Policing: A Viable Panacea for the crime of Burglary
By
Osasumwen Osaghae
December 2008
The Crime of Burglary
The crime of burglary has several components. Some of the elements have provoked disagreement. One of such elements is what constitutes a dwelling place. Section 111(5) of the powers of Criminal Courts (sentencing) Act, 2000 provides that a domestic burglary committed in respect of a building which is a dwelling. The Article
Meaning of Domestic Burglary: When Is an Outbuilding a Dwelling? (Kalu, 2008) examined the meaning of a dwelling. According to the writer, dwelling is not defined in the 2000 Act. The writer then preferred the common meaning of the phrase dwelling place. The article reviewed the case of R Vs Rodmell in which the accused was convicted of burglary in a shed which the victim protected with burglary alarm. The frontier of dwelling house was extended to include shed. The writer disagreed with the judgment and the rationale for the judgment. The basis for the disagreement was the judge’s omission to define a dwelling house thereby leaving the premise for the judgment to ideological guesses. The writer then suggested that “dwelling” be given its literal and natural meaning of abode (inhabited) instead of the legal forest created by the unclear judgments on the matter.
Swaray (2006) considered the nexus between expectations of burglaries and actual burglaries. There was the belief even though unfounded that the apprehension of people that their homes were likely to be burglarized was misplaced. But the study found otherwise. Titled On the relationship between the public’s worry about safety from burglary and probabilities of burglary: some evidence from simultaneous equation models, the paper flawed the policing policy of the government in dealing with burglary cases and contended that the policing methods are not customized enough to ease the burden of burglary on the citizens. The article discussed burglary in the United Kingdom and Wales. The writer employed a combination of qualitative and quantitative research methods to identify the relationship between the fear of burglary and burglary itself. The writer argued that environmental variables encompass physical and social dimensions of neighborhoods and public places that people frequent during the course of their daily activities. The effect of the fear is to create insecurity laced with apprehension which in turn reduces quality of life. The author concludes that there is indeed a relation between the cognitive and the emotional aspects of the problem. The study found that there is strong interdependence between households worry about burglary and actual and perceived probabilities of burglary.
Sorensen (2007) considered alternative policing as an option to the traditional policing method. The writer identified three basic approaches to burglary reduction, although the boundaries between them are not always clear. The three approaches are (a) reducing underlying motivations for crime; (b) pro active/problem oriented policing; and (c) situational crime prevention. This article focused on situational crime prevention, which concerns the management, design, and manipulation of the immediate physical and/or social environment with the aim of making crime appear more difficult, more risky, or less rewarding in the eyes of potential offenders. The article is based on burglary in the Scandinavian countries. The writer noted that earlier studies in Burglary did not include evaluation processes for the experiments and so he improved on the state of the literature by including an evaluation process in his study. The article titled Randomized experiment on burglary reduction, argued that multi-tactic approach to reducing burglary may not be the best approach as it obscures the actual working tactic and cloaks an ineffective method with a “working” garb. Sorensen (2006) concluded that a study such as his own may not lead to unambiguous conclusions. He would therefore recommend further enquiries in the area.
Community Policing
Burglary has been on the increase and has tended to defy traditional policing. Community policing has been recommended as a more effective way of dealing with the problem. Community policing is based on the recognition of a geographical unit (city) as consisting of many neighborhoods with particular sets of qualities and service needs. It is a customized model of service delivery tailored to meet the needs of particular communities. Community policing consists of two complementary core components; “community partnership and problem solving”, (Community policing consortium cited in Oittemeier & Wycoff).
Changing policing practices, wider social divisions have led to the transfer of policing responsibilities from the state to an assortment of public, private and voluntary agencies like the community youths, neighborhood watch and the vigilantes, (Johnston as cited in Yarwood, 2007). Policing efforts would fail if the community does not embrace the policing strategy. In the same vain, community policing is bound to fail if the citizens cannot trust the police force in their community. In extreme cases of failed loyalty, the citizens protect the criminals in their midst than they cooperate with criminals in their communities because social commonality as in race, religion and economic standing.
Community policing has taken on different names and conceptualizations such as “neighborhood watch”, “vigilantes” (Fleisher as cited in Fourchard, 2000), “anti-thief and anti-witch organizations, (Heald as cited in Fourchard, 2000). The article titled Histories of Yoruba Vigilantism is a case study of a local form of community policing that is in use in the Southern Nigeria city of Ibadan. There is a mixture of failed loyalty on the part of the people in the city and a loss of confidence. The result is that the people are more comfortable with non state policing comprising the locals in the society with an effective information network which was found to be lacking in the operations of the state police. Fourchard (2000) argued that the rise in the activities of vigilantes is an indication of the failure of the traditional policing model and a remarkable increase in the level of crime in the society among other crimes, burglary. ‘Vigilante’ in Nigeria is a term initially used by the police in the mid-1980s as a substitute for an older practice present since the colonial period and referred to as the ‘hunter guard’ or ‘night guard’ system. Colonial administration in western Nigeria either tacitly authorized it or legalized it, giving rise to an enduring continuity of these non-state forms of policing. The article traced the origins of Vigilantes to pre-colonial Nigeria when the British found it hard to curb crimes. The concept of the community has been evolving constantly with rules and safeguards being put in place to ensure that the powers were not abused. The rules and safeguards are understandable giving the non state nature of the vigilantes. One of the challenges of community policing is the potential for the abuse of the power conferred on the local policing agents. In contrast to the argument of Fourchard (2000), some of the vigilantes have themselves become the criminals because of state approval of their activities and the arms some of them are given. The article concluded that some characteristics of the community policing method in Southern Nigeria have remained to this day and have had the impact of reducing crimes such as burglary in the city concerned. Some of the practices are the curfew system, erection of gates along the streets to reduce access to and from the streets. The Curfews ensure that people stay more at home with various times set for the curfews. In most cases, people were forbidden from moving about from 8.00 pm to 6.00 am. This made a lot of sense since most of the burglaries (burglaries used in loose sense) were committed at night. Even when the curfews were stopped, the people still return home at about the time set for the curfews feeling that it was not safe to be out after the set curfew period. This had the effect of reducing break ins and burglaries as the criminals refrained from going into the homes where there were people. More than any thing else, the article shows that community policing in association with other safety precautions would reduce burglary but not in isolation.
Among several theories, there is the theory which states that when geographical locations are reduced, crime watch is made easier. A body of theory predicts that increases in the aggregate risk of apprehension within geographic territories may lead to crime reduction. The theory has variously been referred to as structural deterrence, (Sampson & Cohen, as cited in Kane, 2006), or ecological deterrence, (Bursik, Grasmick & Chamlin, as cited in Kane 2006). The theory refers basically to community policing, (Kane, 2006). The article titled On the Limits of Social Control: Structural Deterrence and the Policing of “Suppressible” Crimes discussed the theory of deterrence and its waning influence in explaining criminal propensity. The article examined the development of threat estimates that people make about their local environments and the processes by which they may transmit those threat estimates to people within their social networks. Researchers have applied the threat estimate framework to such environmental hazards as floods, traffic accidents, fires, and oil spills, generally finding that increases in perceptions of risk along the hazardous outcomes are often associated with changes in individuals’ behaviors within discrete environmental settings. The study attempted to fill these gaps by examining whether variations in the risk of apprehension across geographic territories has predicted variations in subsequent crime rates (robbery and burglary) within police precincts over time in a major urban setting. The study integrated the primary methodological and theoretical advances highlighted in the macro-deterrence literature by specifying a longitudinal design, using the community (i.e., police precinct) as the unit of analysis, and incorporating arrest activities independent of known crimes and clearances as the apprehension threat variable.
Conclusion
Community policing remains the most viable option for curbing burglary and other property crimes. As indicated above, the system will not work in isolation but in conjunction with other measures presents a viable option for combating burglary in the society. Community policing would depend largely on environmental influences in order to be effective. Community policing is based largely on interpersonal relationships and information sharing between community inhabitants and the policing authority. If there is at anytime, a loss of confidence or a communication gap, community policing may fail. This is one feature working in favor of public policing in that it does not have to rely on cooperation from the citizens wholly
References
Fourchard, L. (2008) A new name for an old practice: Vigilantes in south-western
Nigeria Africa 78 Vol. 1
Kalu, A (2008) Comment: Meaning of Domestic Burglary: When is an outbuilding
a dwelling? Crime Policy Report Vol. 3
Kane, R. J. (2006) On the Limits of Social Control: Structural Deterrence and the
Policing of “Suppressible” Crimes Justice Quarterly, Vol. 23 No. 2
Moore, 2003 retrieved from
http://www.policeforum.org/upload/BottomLineofPolicing_576683258_1229200520031.pdf on 07/15/08
Oittemeier & Wykoff retrieved from
http://www.policeforum.org/upload/perfeval_570119206_12292005152535.pdf
on 08/1/08
Ruth, R. S. & Reitz, K. R. (2003) The Challenge of crime: Rethinking our response,
Cambridge, Mass. Harvard University Press
Sorensen, D. W. M. (2007) Scandinavian Prospects for a Place-Based Randomized
Experiment on Burglary Reduction, Journal of Scandinavian Studies in criminology and Crime Prevention, Vol. 8
Yarwood, R. (2007) The Geographies of policing Progress in Human Geography
Vol. 31 No. 4
Osasumwen Osaghae
Posted in: Foreign Nations
“MANAGING INDIA’S FOREIGN EXCHANGE RESERVES”
Foreign Exchange Reserves (FER) is the surplus money or capital that a country parks or maintains in the foreign country in form of currency, bond and other kind of securities.
Foreign exchange reserves are the foreign currency deposits held by national banks of different nations. These are assets of Governments which are held in different hard currencies such as Dollar, Sterling, Euro, Yen, Gold, SDRs. The current FER of India amounts to $251.33 billion as on 14 Oct as declared by the RBI. This amount seems an alien like figure when we look back to the early 90’s when we had just enough reserves to meet our country’s demand for the next two weeks. The total FOREX reserves have risen from $3.96 billion in March 1990 to $251.33 billion as on 14 Oct 2007.
Movements in Foreign Exchange Reserves (at the end of March)
OBJECTIVE:
The objectives of my article are as listed below:
1. To study and analyze the current methods RBI uses to manage our FER.
2. Analyze how other countries like China, Abu Dabhai and Singapore with large FER manage their reserves and whether India can also opt for these processes to obtain higher ROI.
3. I would like to list out various other innovative and new options and avenues towards which India ca
Long Live Palestine – LowKey
n look to which will benefit the country and its people, for getting higher returns on its reserves while minimizing the risk involved; as the primary objective of having a reserve is to provide a cushion in case of any emergency or financial crisis. I would also like to forward these suggestions to the RBI.
LITERATURE SURVEY:
1. “Determining the Optimum Level of Foreign Exchange Reserves”,
By Sajikumar, Treasury Management. The Icfai University Press, November, 2005.
The author says that the increase in the inflows of the foreign reserves in the country by the route of ADRs, GDRs, FDIs, ECBs, portfolio investments, non-resident deposits and bank capital raises the question of an ‘optimum’ level of reserves. Further, he discusses about the reserve adequacy indicators: Trade related indicators (reserves should be equivalent to a few months of imports), Debt related indicators (reserves can meet the external repayment obligations without additional borrowing for one year- Guidotti rule) and money-related indicators i.e. reserves to broad money/ reserves to reserve money.
2. “Should India Use Foreign Exchange Reserves For Financing Infrastructure?”
By Charan Singh, Stanford Center for International Development, September 2005
The author states the primary objectives of maintaining forex reserves is safety and liquidity, maximizing returns is secondary. The forex reserves in India are managed by RBI in consultation with the Government of India. The opinion of the author is that India should not invest forex reserves in Infrastructure. Going ahead he says, infrastructure projects in India yield low or negative returns due to difficulties: political and economic — especially in adjusting the tariff structure, introducing labor reforms, and upgrading technology and the use of FER to finance infrastructure may lead to more economic difficulties, including problems in monetary management.
3.“Surging Forex Reserves: A Frankenstein’s Monster?”
By GRK Murti, Forex Markets, Current Trends, The Icfai University Press, November, 2005.
The author talks about the surging forex reserves of the country and states that the level of forex has surpassed the adequate level. The author further says that the hoarding of forex reserves in the overseas markets has made it a Frankenstein’s Monster. Hoarding means savings that is put aside for the future use and this also entails an opportunity cost to it. He also opines that the RBI should take the risk of deploying these reserves in infrastructure projects or retiring high cost existing debt.
4.“India’s Forex Reserves Deployment Dilemma”
By Priyanka Sugandhi, Forex Markets , Current Trends. The Icfai University Press, November, 2005.
The author has shown the dilemma being faced by the RBI in deploying its forex reserves by citing the costs and the benefits associated with the huge forex reserves. The benefits being the foreign currency liquidity enabling the economy to absorb shocks like during the oil crisis, and high forex reserves also depicts the ability of the economy to meet its external obligations. The costs associated being the opportunity cost of deploying the reserves into the developed countries which gives low returns as compared to what Indian Government pay to its domestic borrowings whereas the bond market in developed countries are very liquid and do entail very low credit risk.
ISSUE:
The unprecedented rise in Foreign Exchange Reserves (FER) in India has raised concern about its optimal size and appropriate utilization. The amount of FER in India is modest when compared to some of the other countries in the region, and it can be argued that the proposed plan may lead to more economic difficulties than anticipated benefits. Safety and liquidity are paramount in the management of reserves and these demand that reserves are held mostly in G-7 central banks or Treasury bills of the highest quality and the lowest yields. The usual favorite in the latter are those issued by the US Government. Bonds are no better. Investments in G-7 bonds too are characterized by low yields, given the low level of global interest rates. Every country needs a minimum level of reserves for imports, debt-servicing and market intervention to ward off possible speculative attacks on the currency.
India followed a restrictive external sector policy until 1991, mainly designed to conserve limited FER for essential imports (petroleum goods and food grains), restrict capital mobility, and discourage entry of multinationals. The external sector strategy since 1991, though gradualist in approach, has shifted from import substitution to export promotion, with sufficiency of FER as an important element. As a result of measures initiated to liberalize capital inflows, India’s FER (mainly foreign currency assets) have increased from US$6 billion at end-March 1991 to US$251 billion at Oct 2007. The acceleration in the trend first emerged in 1993, as recorded by the rise in foreign currency assets, when India adopted the market-based system of exchange rates and then in 2001, when the current account recorded a surplus after a persistent deficit since 1978. India ranks sixth in the world in holdings of FER in 2007.
The recent surge in FER has occurred primarily because of an increase in:
1. Work Remittance
2. Exports
3. Capital Inflow
The RBI being the custodian of the FER has to decide how to manage the FER. This job is by no means an easy task and the controversy that surrounds the usage of our FER still looms at large. Some skeptics say that FER are a cushion for the country in case of an economic crisis and help in bailing out the country in case of an emergency. However it wouldn’t be wise to let our FER just keep on piling up and not utilize them judiciously. We can utilize our FER to improve our infrastructure, which is very desperately needed to sustain the rapid growth we are witnessing in our country at this moment, we can also utilize our foreign reserves to repay our short term high interest term loans taken from foreign financial institutions, using reserves to acquire foreign assets including technology or we can also utilize our reserves for social welfare to eradicate poverty. The ways in which we can utilize our resources are endless but we must take care not to overdo it. However not utilizing our reserves has an opportunity cost attached to it as the RBI primarily invests and parks its reserves in low yielding US govt. bonds.
REFERENCES
1. Cardon Pierre And Joachim Coche, “Strategic Asset Allocation For Foreign Exchange Reserves”, Risk Management For Central Bank Foreign Reserves, European Central Bank, May 2004.
2. Dwyer Mark and John Nugée, “Risk Systems in Central Bank Reserves Management”
, Risk Management for Central Bank Foreign Reserves, European Central Bank, May 2004.
3. Damodaran Harish, “The `Other Capital’ Factor In Forex Reserves Accretion”, Financial Daily. The Hindu Group of Publications, Wednesday, Jul 02, 2003.
4. Patnaik Ila And Peter Pauly, “The Indian Foreign Exchange Market And The Equilibrium Real Exchange Rate Of The Rupee”, Ncaer, Delhi And University Of Toronto, February 2001.
5. Sajikumar, “Determining the Optimum Level of Foreign Exchange” Reserves, Treasury Management. The Icfai University Press, November, 2005.
6. Singh Charan, “Should India Use Foreign Exchange Reserves For Financing Infrastructure?” Stanford Center for International Development, September 2005
7. Sugandhi Priyanka, “India’s Forex Reserves Deployment Dilemma”, Forex Markets,Current Trends. The Icfai University Press, November, 2005.
8. Murti GRK, “Surging Forex Reserves: A Frankenstein’s Monster?”, Forex Markets, Current Trends, The Icfai University Press, November, 2005.
Amit Singh Bisht