Indiaâ€™s Post-Liberalisation Blues
This article first explains why Indiaâ€™s recent form of rent seeking has not damaged its growth performance. Second, it argues that Indiaâ€™s recent embrace of Latin American style populism could lead to a â€˜growth collapseâ€™. Third, the entitlement economy being created from the rising tax revenues of recent economic growth could lead to fiscal crises in the face of terms of trade shocks. Fourth, its failure to complete the second generation reforms particularly of the labour market, has held back the labour-intensive industrialisation needed to make use of the â€˜demographic dividendâ€™.
Volume (Year): 12 (2011)
Issue (Month): 4 (October)
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