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Accelerating And Sustaining Growth

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  • Arvind Virmani

Abstract

The paper reviews and draws lessons from the experience of fast growing economies including a sub-set of these termed High Growth Economies (HGEs) with a decadal rate of over 7 per cent. It then reviews the history of the Indian growth acceleration following the reforms of the 1990s and its future prospects given the recent slowdown. It analysis the potential dangers and reasons for India’s growth slowdown and proposes policy reforms for sustaining fast growth.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 12/185.

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Length: 46
Date of creation: 01 Jul 2012
Date of revision:
Handle: RePEc:imf:imfwpa:12/185

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Related research

Keywords: Development; Economic growth; Economic reforms; Emerging markets; import liberalization; competitive pressure; external shocks; per capita income; per capita growth rate; average tariffs; oil crises; protected goods; accelerating growth; domestic investment; domestic production; export growth; fixed investment; exogenous shock; importing countries; bankruptcy law; net exports; terms of trade effects; gross capital formation; tariff reductions; rent transfer; world growth; factor markets; import duties; transport costs; world economy; dynamic effects; oil imports; trade effects; supply chain; trade liberalization; imported supplies; competitive market; current account balance; export marketing; intermediate inputs; fixed capital formation; import controls; competitive advantage; export markets; balance of payments; domestic producers; unskilled labor; terms of trade; open economies; import tariffs; factor accumulation; world exports; quantitative restrictions;

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References

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  1. Elhanan Helpman & Antonio Rangel, 1998. "Adjusting to a New Technology: Experience and Training," NBER Working Papers 6551, National Bureau of Economic Research, Inc.
  2. Barry Eichengreen & Donghyun Park & Kwanho Shin, 2011. "When Fast Growing Economies Slow Down: International Evidence and Implications for China," NBER Working Papers 16919, National Bureau of Economic Research, Inc.
  3. Arvind Virmani, 2006. "India's Economic Growth History: Fluctuations, Trends, Break Points and Phases," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 41(1), pages 81-103, July.
  4. Jerzmanowski, Michal, 2006. "Empirics of hills, plateaus, mountains and plains: A Markov-switching approach to growth," Journal of Development Economics, Elsevier, vol. 81(2), pages 357-385, December.
  5. Arvind Virmani & Danish A Hashim, 2011. "J-Curve of Productivity and Growth," IMF Working Papers 11/163, International Monetary Fund.
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