Financial Globalization and India's Equity Market Reforms

Click to increase image sizeClick to decrease image size Notes The author wishes to express special appreciation to Ajay Shah and Susan Thomas for their gracious help and in some cases co-participation in fieldwork, as well as for their generous sharing of their ideas about India's equity markets. Ajay and Susan co-authored an earlier version of this paper. Rob Jenkins read two versions of this essay and offered many valuable substantive and editorial suggestions. Thanks also to Leslie Armijo, Sugata Bhattacharya, Vijay Joshi, Lloyd Rudolph, Herman Schwartz, the participants at the SAIS symposium, and members of the Network on South Asian Politics and Political Economy for their comments on an earlier version of this paper. 1 My premise is that…