重要的是,在印度这样的资本稀缺国家,实际利率需要足够高,以鼓励金融储蓄的健康增长;当金融储蓄的实际利率在一段时间内变为负值时,我们就会陷入宏观困境。
(What is important is that in a capital-scarce country like India, the real interest rate needs to be positive enough to encourage healthy growth of financial savings; we get into macro difficulties when real rates on financial savings become negative for a length of time.)