India: Asia’s Next Productivity Success Story
India has created the basic rules of modern economic and political life. While the country’s institutional framework needs strengthening, it will allow India to prosper without drastic changes. Gradual economic reform has transformed India, putting it on a much faster growth path. Economic growth in the next ten years may not equal China’s current double-digit growth rate, but India is nevertheless very likely to become one of the fastest growing economies in the world, growing at a pace similar to that of Malaysia, Thailand, Taiwan and Korea during their period of sustained rapid economic growth. The recent acceleration in real GDP growth reflects both faster input growth as well as rising total factor productivity. However, India has weaker social pillars to support economic growth than other East Asian countries had at the time of their miracle growth years, mainly due to its poor education system. Failure to address shortcomings in education, along with inadequate physical infrastructure, and large fiscal deficits, would constrain India from reaching even faster growth.
Volume (Year): 14 (2007)
Issue (Month): (Spring)
|Contact details of provider:|| Postal: 151 Slater Street, Suite 710, Ottawa, ON K1P 5H3|
Web page: http://www.csls.ca/
More information through EDIRC
|Order Information:|| Web: http://www.csls.ca Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kochhar, Kalpana & Kumar, Utsav & Rajan, Raghuram & Subramanian, Arvind & Tokatlidis, Ioannis, 2006.
"India's pattern of development: What happened, what follows?,"
Journal of Monetary Economics,
Elsevier, vol. 53(5), pages 981-1019, July.
- Arvind Subramanian & Raghuram Rajan & Ioannis Tokatlidis & Kalpana Kochhar & Utsav Kumar, 2006. "India's Pattern of Development; What Happened, What Follows?," IMF Working Papers 06/22, International Monetary Fund.
- Kalpana Kochhar & Utsav Kumar & Raghuram Rajan & Arvind Subramanian, 2006. "India's Patterns of Development: What Happened, What Follows," NBER Working Papers 12023, National Bureau of Economic Research, Inc.
- Barry P. Bosworth & Susan M. Collins, 2003. "The Empirics of Growth: An Update," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 113-206.
- Dani Rodrik & Arvind Subramanian, 2004. "From â€œHindu Growthâ€ to Productivity Surge; The Mystery of the Indian Growth Transition," IMF Working Papers 04/77, International Monetary Fund.
- Rodrik, Dani & Subramanian, Arvind, 2004.
"From 'Hindu Growth' to Productivity Surge: The Mystery of the Indian Growth Transition,"
CEPR Discussion Papers
4371, C.E.P.R. Discussion Papers.
- Dani Rodrik & Arvind Subramanian, 2005. "From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition," IMF Staff Papers, Palgrave Macmillan, vol. 52(2), pages 193-228, September.
- Dani Rodrik & Arvind Subramanian, 2004. "From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition," NBER Working Papers 10376, National Bureau of Economic Research, Inc.
- Rodrik, Dani & Subramanian, Arvind, 2004. "From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition," Working Paper Series rwp04-013, Harvard University, John F. Kennedy School of Government.
- 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.
When requesting a correction, please mention this item's handle: RePEc:sls:ipmsls:v:14:y:2007:3. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CSLS)
If references are entirely missing, you can add them using this form.