Claremont Colleges Scholarship @ Claremont CMC Senior Theses CMC Student Scholarship 2017 The “Modi Effect”: Investigating the Effect of Demonetization on Currency Demand and the Size of the Underground Economy in India Sanjana Sankaran Claremont McKenna College Recommended Citation Sankaran, Sanjana, "The “Modi Effect”: Investigating the Effect of Demonetization on Currency Demand and the Size of the Underground Economy in India" (2017). CMC Senior Theses. 1647. http://scholarship.claremont.edu/cmc_theses/1647 This Open Access Senior Thesis is brought to you by Scholarship@Claremont. It has been accepted for inclusion in this collection by an authorized administrator. For more information, please contact
[email protected]. Claremont McKenna College The “Modi Effect”: Investigating the Effect of Demonetization on Currency Demand and the Size of the Underground Economy in India SUBMITTED TO Professor Eric Helland AND Professor Richard Burdekin BY Sanjana Sankaran for Senior Thesis Spring 2017 April 24, 2017 Table of Contents Acknowledgments .......................................................................................................................... 3 Abstract ........................................................................................................................................... 4 I. Introduction ............................................................................................................................ 5 II. Background ..........................................................................................................................