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India in the 1980s and 1990s: A Triumph of Reforms:

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  • Arvind Panagariya

    (Columbia University)

Abstract

Bradford DeLong and Dani Rodrik have argued that reforms in India cannot be credited with higher growth because growth rate had crossed the 5 percent mark in the 1980s, well before the launch of the July 1991 reforms. This is wrong reading of the Indian experience for two reasons. First, liberalization was already under way during the 1980s and it played a crucial role in stimulating growth during that decade. Second, growth in the 1980s was fragile and unsustainable. The more systematic and systemic reforms of the 1990s, discussed in detail in this paper, gave rise to more sustainable growth. The paper concludes with a discussion of why the growth rate in India nevertheless continues to trail that of China.

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File URL: http://128.118.178.162/eps/it/papers/0403/0403005.pdf
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Bibliographic Info

Paper provided by EconWPA in its series International Trade with number 0403005.

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Length: 61 pages
Date of creation: 05 Mar 2004
Date of revision:
Handle: RePEc:wpa:wuwpit:0403005

Note: Type of Document - pdf; pages: 61
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Web page: http://128.118.178.162

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  1. Francisco Alcalá & Antonio Ciccone, 2004. "Trade and Productivity," The Quarterly Journal of Economics, MIT Press, vol. 119(2), pages 612-645, May.
  2. Jagdish N. Bhagwati & T. N. Srinivasan, 1975. "Foreign Trade Regimes and Economic Development: India," NBER Books, National Bureau of Economic Research, Inc, number bhag75-1.
  3. Ashok V. Desai, 1999. "The Economics and Politics of Transition to an Open Market Economy: India," OECD Development Centre Working Papers 155, OECD Publishing.
  4. Poonam Gupta & James P. F. Gordon, 2004. "Understanding India’s Services Revolution," IMF Working Papers 04/171, International Monetary Fund.
  5. Panagariya, Arvind, 1990. "Indicative planning in India: Discussion," Journal of Comparative Economics, Elsevier, vol. 14(4), pages 736-742, December.
  6. Satish Chand & Kunal Sen, 1996. "Trade Liberalization and Productivity Growth: Evidence from Indian Manufacturing," Departmental Working Papers 1996-11, The Australian National University, Arndt-Corden Department of Economics.
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Cited by:
  1. Barry Bosworth & Susan M. Collins & Arvind Virmani, 2007. "Sources of Growth in the Indian Economy," NBER Working Papers 12901, National Bureau of Economic Research, Inc.
  2. Alessandrini, Michele & Fattouh, Bassam & Ferrarini, Benno & Scaramozzino, Pasquale, 2009. "Tariff Liberalization and Trade Specialization in India," ADB Economics Working Paper Series 177, Asian Development Bank.
  3. Ang, James B., 2011. "Finance and consumption volatility: Evidence from India," Journal of International Money and Finance, Elsevier, vol. 30(6), pages 947-964, October.
  4. Mukul G. Asher & Rahul Sen, 2005. "India-East Asia Integration : A Win-Win for Asia," Macroeconomics Working Papers 22081, East Asian Bureau of Economic Research.
  5. Geng, Nan, 2011. "The dynamics of market structure and firm-level adjustment to India's pro-market economic liberalizing reforms, 1988-2006: A Time Varying Panel Smooth Transition Regression (TV-PSTR) approach," International Review of Economics & Finance, Elsevier, vol. 20(4), pages 506-519, October.
  6. Jahangir Aziz, 2008. "Deconstructing China’s and India’s Growth - The Role of Financial Policies," Macroeconomics Working Papers 22142, East Asian Bureau of Economic Research.
  7. Mehtabul Azam, 2008. "Changes in Wage Structure in Urban India, 1983-2004: A Quantile Regression Decomposition," Departmental Working Papers 0807, Southern Methodist University, Department of Economics.
  8. Eckhard Siggel & Pradeep Agrawal, 2009. "The Impact Of Economic Reforms On Indian Manufacturers : Evidence From A Small Sample Survey," Development Economics Working Papers 22930, East Asian Bureau of Economic Research.
  9. Kawai, Masahiro & Wignaraja, Ganeshan, 2008. "Regionalism as an Engine of Multilateralism: A Case for a Single East Asian FTA," Working Papers on Regional Economic Integration 14, Asian Development Bank.

Lists

This item is featured on the following reading lists or Wikipedia pages:
  1. インドの経済 in Wikipedia (Japanese)
  2. Microeconomic reform in Wikipedia (English)
  3. Wikiprojekt:Tłumaczenie artykułów/Gospodarka Indii in Wikipedia (Polish)
  4. 印度经济 in Wikipedia (Chinese)
  5. Economy of India in Wikipedia (English)
  6. Kinh tế Ấn Độ in Wikipedia (Vietnamese)
  7. تاریخ اقتصاد هند in Wikipedia (Persian)
  8. เศรษฐกิจอินเดีย in Wikipedia (Thai)

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