Modelling of Foreign Capital Flows and Reserves: Further Response

Capital Flows and Reserves Further Response NIRVIKAR SINGH, T N SRINIVASAN usually defined as a balanced growth path The second round of comments from Sen (2005) on Singh and Srinivasan (2004, 2005) suggests that some points of our paper apparently need further clarification. In doing so we distinguish between possible errors of logic and matters of interpretation and judgment.