India-Venezuela: Analysis of Demonetization Measures

Authors

Abstract

In 2016, the governments of India and Venezuela decided to demonetize the highest denomination banknotes in their economies. Both decisions involved the loss of millions of banknotes and funds to reduce the risks faced by the two countries in the face of the generalization of illegal economic activities, but, as a radical measure, demonetization conditioned the decisions of economic agents. This article aims to perform a comparative analysis of the demonetization measures implemented in India and Venezuela. For this purpose, the origin of the measure in both countries, the objectives set by the government and the results obtained were compared. The analysis made it possible to identify the differences and similarities of this type of government intervention.

Author Biographies

Alberto Jose Hurtado Briceño, University of the Andes, Venezuela.

Economist; Master in Economics, mention in Economic Policies; and Doctor in Human Sciences (University of the Andes, Venezuela). Associate Professor at the Department of Economics of the Faculty of Economic and Social Sciences. Editor of Revista Economía. Founding member and Coordinator of the Economic Studies Group on Asia (ESGA) attached to the Institute of Economic and Social Research. University of the Andes, Mérida, Venezuela.

Sadcidi Zerpa de Hurtado, University of the Andes, Venezuela.

Economist and Master in Economics, mention in Economic Policies (University of the Andes). Professor at the Department of Economics of the Faculty of Economic and Social Sciences. Editor of Revista Economía. Founding member of the Economic Studies Group on Asia (ESGA) attached to the Institute of Economic and Social Research. University of the Andes, Mérida, Venezuela.

References

A. Hurtado and S. Zerpa, India-Venezuela: Análisis comparativo de las medidas de desmonetización (Mérida: ULA, GEEA, 2019). Retrieved from http://www.saber.ula.ve/handle/123456789/45688

G. Rani, Effects of demonetization on retail outlets, International Journal of Applied Research, 2(12), 2016, 400-401.

N. Gajjar, Black money in India: Present Status and Future Challenges and Demonetization, International Journal of Advance Research in Computer Science and Management Studies, 4(12), 2016, 47-54.

A. Dash, A study on socio economic effect of demonetization in India, International Journal of Management and Applied Science, 3(3), 2017, 13-15.

M. Kaur, Demonetization: Impact on cashless payment system, 6th International Conference on Recent Trends in Engineering, Science & Management, Shri Guru Teg Bahadur Khalsa College Anandpur Sahib, Punjab. 8th January 2017, 680-685.

A. Hurtado and S. Zerpa, India: Results of demonetization 2016, Humania del Sur, 13(25), 2018, 169-186. Retrieved from http://erevistas.saber.ula.ve/index.php/humaniadelsur/article/view/14139/21921925233

A. Rosato and M. Boivin, Los tipos de análisis: etnográfico, comparativo y procesual. Diferencias, semejanzas y cruces (Buenos Aires: UBA, 2013). Retrieved from https://www.aacademica.org/000-063/227.pdf

J. Piovani and N. Krawczyk, Los estudios comparativos: algunas notas históricas, epistemológicas y metodológicas, Educação & Realidade, 42(3), 2017, 821-840. doi: 10.1590/2175-623667609

J. Maxwell, Qualitative research design. An interactive Approach (Londres: Sage publications, 1996).

R. Fideli, La comparazione (Milán: Agneli, 1998).

N. Smelser, On comparative analysis, interdisciplinarity and internationalization in Sociology, International Sociology, 4(18), 2003, 643-657.

C. Gómez Díaz and E. De León, Método comparativo, in K. Sáenz (Ed.), Métodos y técnicas cualitativas y cuantitativas aplicables a la investigación en ciencias sociales (México: Tirant Humanidades México, 2014) 223-251.

Government of India, Gazette Notification N° 2652, November 8, 2016. Retrieved from http://164.100.60.243/WriteReadData/2016/172521.pdf

Bolivarian Republic of Venezuela, Gaceta Oficial Extraordinaria N° 6.275, December 11, 2016.

A. Hurtado and S. Zerpa, Misiones sociales: Contextualización de su origen, concepto y evolución, in A. Hurtado (Coord.), Misión Alimentación: Origen, evolución e impacto, 1 (Mérida: ULA-CDCHTA, 2016) 17-52. Retrieved from http://www.saber.ula.ve/handle/123456789/43556

A. Hurtado and S. Zerpa (2016), Misiones sociales en Venezuela: concepto y contextualización, Sapienza Organizacional, 3(6), 2016, 37-64. Retrieved from http://erevistas.saber.ula.ve/index.php/sapienza/article/view/7824/7746

RBI, Annual Report, August, 2017. Retrieved from https://www.rbi.org.in/scripts/AnnualReportPublications.aspx?Id=1208#T1

BCV, Estadísticas del sector monetario y del sector financiero, several years. Retrieved from http://www.bcv.org.ve/estadisticas/billetes-y-monedas

RBI, Database on Indian Economy, several years. Retrieved from https://dbie.rbi.org.in/DBIE/dbie.rbi?site=home

National Assembly of Venezuela, Ãndice de Precios al Consumidor de la Asamblea Nacional, several years. Retrieved from http://www.asambleanacional.gob.ve/documentos_archivos/inpcan-199.pdf

IMF, Country Data: Venezuela, 2018. Retrieved from http://www.imf.org/en/Countries/VEN#countrydata

Published

2019-03-26

How to Cite

Hurtado Briceño, A. J., and S. Zerpa de Hurtado. “India-Venezuela: Analysis of Demonetization Measures”. International Journal of Advances in Management and Economics, Mar. 2019, pp. 58-67, https://managementjournal.info/index.php/IJAME/article/view/573.

Issue

Volume 08 Issue 02 (2019) March-April 2019

Section

Articles