World turns attention to how note ban affected Indian economy, politics

Economists all over the world have dug through the rich trove of data, and here's what they found about the monetary shock that still lingers over India

Prime Minister Narendra Modi’s administration hasn’t assessed the impact of one of history’s most sweeping changes in currency policy.

“No Madam,” was the Indian junior finance minister’s reply to a lawmaker’s question in parliament Dec. 14 on whether the government had studied the aftereffects of the move in November 2016 to invalidate almost all of the country’s currency overnight. One of chief aims of the exercise was to curb corruption in Asia’s third-largest economy.

The decision to look away from demonetization may be an attempt to distance authorities from what’s since been termed ‘a total failure’ and a ‘draconian’ act. However, economists