Mr. Bhatia, Assistant Director in the African Department, is a graduate of the University of Bombay and of Oxford University. He was formerly a member of the staff of the Indian Ministry of Finance and has contributed several articles to economic journals.
Joachim Ahrensdorf and S. Kanesa-Thasan, “Variations in the Money Multiplier and Their Implications for Central Banking,” Staff Papers, Vol. VIII (1960), pp. 126–49.
Ibid., p. 132.
Ahrensdorf and Kanesa-Thasan, op. cit., p. 143.