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Sounding the alarm: Impact of political instability on growth and fiscal health of the Indian economy

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  • Mala Lalvani

Abstract

A noticeable change evident in the Indian political scenario since the eighties has been a sharp rise in the frequency with which governments have been ousted out of power. This augurs well for Indian democracy as it reflects a ‘political awakening’. Such changes in government, after an election reflect ‘orderly’: transfer of power and are inherent to the democratic form of governance. However, a close scrutiny of the political scenario at the state government level shows that there have been very frequent changes in government between elections. A high frequency of changes in government could be expected to result in frequent reversals or modifications in policy decisions and have a destabilizing effect on the economy. The present study is an empirical exercise undertaken at the level of state governments. It makes a first attempt to examine the impact of political instability on growth and on the fiscal health of the Indian economy. Copyright Springer-Verlag Berlin Heidelberg 2003

Suggested Citation

  • Mala Lalvani, 2003. "Sounding the alarm: Impact of political instability on growth and fiscal health of the Indian economy," Economics of Governance, Springer, vol. 4(2), pages 103-114, August.
    • Handle: RePEc:spr:ecogov:v:4:y:2003:i:2:p:103-114
    DOI: 10.1007/s101010200047
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    Keywords

    Key words: Political instability; government growth; fiscal policy; JEL classification: H11; E62; C33;
    All these keywords.

    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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