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Policymaking for Indian Planning
Montek S. Ahluwalia, Deputy Chairman of the Planning Commission of India; contributed articles.
Economic Policy Reforms and the Indian Economy
India is the second most populous country in the world and also one of the poorest. From the late 1940s to 1980, India's per capita income grew at an average annual rate of only two percent. Expansionist economic reforms during the 1980s boosted economic growth but also unfortunately resulted in high inflation and a balance of payments crisis. As a consequence, in 1991 the government announced sweeping new changes in economic policies. Economic Policy Reforms and the Indian Economy evaluates the effects of those changes and identifies areas of the Indian economy still in urgent need of reform. After an overview of Indian economic policies and development since independence, papers focus on the country's fiscal situation, the environment for private economic activity, education, the reservation of certain activities for small-scale industry, and determinants of differentials in rates of growth across the different Indian states. Contributors include respected academic specialists on India and policy reform, high-level Indian administrators, and present and past policymakers.
India's Economic Reforms and Development
This collection of essays by fifteen distinguished economists was assembled in honor of Dr. Manmohan Singh. The book focuses on reforms that Singh himself initiated, and is offered in an attempt to show what remains to be done if their benefits are to be realized. Contributors include Jagdish Bhagwati, Meghnad Desai, Vijay Joshi, Deepak Lal, Amartya Sen, and T. N. Srinivasan.
Quarter Century of Liberalization in India
July 1991 was a momentous month in the contemporary economic history of India, when a market-friendly set of policies shifted the centre of country's political economy more rightward than ever before. This book examines the 1990-91 reforms from different ideological perspectives. Authors from diverse backgrounds track the origins and continuation of liberal policies, dissecting the role of the state over the last 25 years in addressing issues like poverty, nutrition, and income inequality. It argues that neo-liberal globalisation, global capitalism and inclusive development have come to constitute the new order of things in the Indian economy, and examines the economic and social outcomes of the non-interventionist state. Explaining why there is still widespread dissatisfaction with the progress and outcome of reforms, the book elaborates on India's tumultuous start in the new millennium.
Reforming the Global Financial Architecture
This volume is a report prepared for the 1999 Commonwealth Finance Ministers Meeting. Arguing that contemporary crises are very different from traditional balance of payment problems, it identifies issues in crisis resolution and proposes a new governance structure.
India
Presents a history of India's macroeconomy and recent developments in its political economy. Valuable lessons from India's stabilization policies explain how structural adjustment can also benefit long-term growth in the subcontinent. This analysis looks at various government policies that have influenced imports and exports, national investment and savings, gross national and domestic product, and the balance of payments. It specifically examines the degree to which stabilization has reformed agriculture and industry and has improved the relationship between the public and private sectors. A brief introduction to the Indian economy is given, and India's basic economic controls are reviewed. These include the government's national budget and its regulation of prices, production, investment, interest rates, and credit allocation. Also discussed are recent trends in investment and public spending.
Growth with Financial Stability
This collection provides an overview of India's growth experience from Independence to the recent global financial crisis from the perspective of financial economics. With a focus on growth drivers and financial stability, the volume analyses both macroeconomic and microeconomic policy reforms and suggests strategies for the future.
Development Challenges in the 1990s
The 1990s was a decade of historical significance with numerous and remarkable changes. It was also a time of considerable reforms that strengthened the policy framework in a large number of countries. Yet the resulting growth experiences of developing countries have been extremely varied and often below expectations. What have we learned from this experience? And how can these lessons be applied to the challenges we face in the new millennium? Development Challenges in the 1990s brings together the insights and experiences of some of the world's leading policymakers and global thought leaders, individuals who have had substantial influence on the policy reforms and development strategies in...
Inequality in China – Trends, Drivers and Policy Remedies
China has experienced rapid economic growth over the past two decades and is on the brink of eradicating poverty. However, income inequality increased sharply from the early 1980s and rendered China among the most unequal countries in the world. This trend has started to reverse as China has experienced a modest decline in inequality since 2008. This paper identifies various drivers behind these trends – including structural changes such as urbanization and aging and, more recently, policy initiatives to combat it. It finds that policies will need to play an important role in curbing inequality in the future, as projected structural trends will put further strain on equity considerations. In particular, fiscal policy reforms have the potential to enhance inclusiveness and equity, both on the tax and expenditure side.
The Growth Report
The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.
