Publications

Policy Note 2023/4 | August 2023

Effects of Forced Formalization (Demonetization) in the Indian Economy 

Nischal Dhungel examines the impact of India’s demonetization experiment—an effort at “forced formalization” of the economy. He urges a more organic approach to formalization, pairing efforts to bring the unbanked population into the banking system with greater funding and accessibility for India’s signature employment guarantee program.

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Working Paper No. 1077
A Critical Examination of the “China Collapse” Narrative
Author(s): Yan Liang
February 2025

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