G Padmanabhan: Is India ready for full capital account convertibility? Address by Mr G Padmanabhan, Executive Director of the Bank of India, at the MSNM Besant Institute of PG Management Studies, Mangalore, 16 May 2015. *  *  *  Inputs by my colleagues S/Shri H S Mohanty and Anand Prakash and review by a number other colleagues is gratefully acknowledged.
It is estimated that, in the context of the decline of the euro in the foreign exchange markets, the greater exposure of the Irish economy to non-euro currencies accounts for around ½ of a percentage point of this difference. In addition, approximately 1 percentage point can be explained by higher productivity growth in the traded sector relative to the non-traded sector.