Abhijit Banerjee discusses the economics and politics behind the 2016 demonetisation in India.
On November 8, 2016, the Government of India announced that all 500 and 1,000 rupee notes would no longer be legal tender. This decision to demonetise is one of the most unusual policy experiments carried out in recent times anywhere in the world. In this installment of the Data. Decisions. Public Policy. lecture series, Abhijit Banerjee discussed the economics and politics behind this move, partly based on recent field research in India.