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Reintegrating India with the World Economy

Author

Listed:
  • T. N. Srinivasan
  • Suresh D. Tendulkar

Abstract

After nearly five decades of insulation from world markets, state controls, and slow growth, India embarked in 1991 on a process of liberalization of controls and progressive integration with the global economy in an effort to put its economy on a path of rapid and sustained growth. Despite major changes in the government since then, the thrust on reforms has been maintained. According to the World Bank, only 10 out of 145 countries had more rapid growth than India at over 6 percent per year in the 1990s and two had the same as India's.In this study, Professors T.N. Srinivasan and Suresh D. Tendulkar analyze the economics and politics of India's recent and growing integration with the world economy. They argue that this process has to be nurtured and accelerated if India is to eradicate its poverty and take its rightful place in the global economic system.The study covers the historical roots and the political economy of India's late integration; domestic and external constraints on integration; external capital inflows including foreign direct investment; and India's emerging comparative advantage in the information technology industry and services, particularly computer software. The final chapter offers policy recommendations including proposals that India could make at the ongoing Doha Round of multilateral trade negotiations.

Suggested Citation

  • T. N. Srinivasan & Suresh D. Tendulkar, 2003. "Reintegrating India with the World Economy," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 98.
  • Handle: RePEc:iie:ppress:98
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    Cited by:

    1. Prema-chandra Athukorala, 2008. "Export Performance in the Reform Era:Has India Regained the Lost Ground?," ASARC Working Papers 2008-03, The Australian National University, Australia South Asia Research Centre.
    2. Singh, Lakhwinder, 2007. "India’s Economic Growth and the Role of Foreign Direct Investment," MPRA Paper 6427, University Library of Munich, Germany.
    3. Arvind Panagariya, 2004. "India in the 1980's and 1990's; A Triumph of Reforms," IMF Working Papers 04/43, International Monetary Fund.
    4. Pankaj Vashisht, 2015. "Creating Manufacturing Jobs in India: Has Openness to Trade Really Helped?," Working Papers id:7126, eSocialSciences.
    5. Ashok Kotwal & Bharat Ramaswami & Wilima Wadhwa, 2011. "Economic Liberalization and Indian Economic Growth: What's the Evidence?," Journal of Economic Literature, American Economic Association, vol. 49(4), pages 1152-1199, December.
    6. 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.
    7. Eberhard Weber, 2012. "Economic reform, social development and conflict in India," Regional Science Policy & Practice, Wiley Blackwell, vol. 4(3), pages 207-230, August.
    8. Richard Herd & Sean Dougherty, 2007. "Growth Prospects in China and India Compared," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 4(1), pages 65-89, June.
    9. Rajiv Kumar & Alamuru Soumya, 2010. "Fiscal Policy Issues for India after the Global Financial Crisis (2008–2010)," Working Papers id:2912, eSocialSciences.
    10. repec:wsi:jdexxx:v:12:y:2007:i:04:n:s1084946707000794 is not listed on IDEAS
    11. Andrew Harris, 2013. "Concrete geographies," City, Taylor & Francis Journals, vol. 17(3), pages 343-360, June.
    12. Bhattacharjeean, Arnab & Majumdar, Sumit K., 2011. "How much does industry matter in an emerging market economy?," SIRE Discussion Papers 2011-51, Scottish Institute for Research in Economics (SIRE).
    13. Marcus Conlé & Margot Schüller & Jan Peter Wogart, 2008. "Innovation im Staatsauftrag: FuE-Institute Indiens und Chinas im Vergleich," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 77(2), pages 162-183.
    14. Singh, Nirvikar, 2008. "India’s Development Strategy: Accidents, Design and Replicability," MPRA Paper 12453, University Library of Munich, Germany.
    15. Sambit Bhattacharyya, 2011. "Growth Miracles and Growth Debacles," Books, Edward Elgar Publishing, number 13609.
    16. Lee, Boon L. & Rao, D.S. Prasada & Shepherd, William, 2007. "Comparisons of real output and productivity of Chinese and Indian manufacturing, 1980-2002," Journal of Development Economics, Elsevier, vol. 84(1), pages 378-416, September.
    17. Singh, Lakhwinder, 2006. "Deceleration of industrial growth and rural industrialization strategy for Indian Punjab," MPRA Paper 799, University Library of Munich, Germany.
    18. Françoise Lemoine & Sophie Chauvin, 2005. "L’économie indienne : changements structurels et perspectives à long-terme," Working Papers 2005-04, CEPII research center.
    19. Sanjana Roy & Deergha Airen, 2015. "Making Corporate Social Responsibility mandatory: Job done or undone," Proceedings of International Academic Conferences 3105043, International Institute of Social and Economic Sciences.
    20. Rajendra R. Vaidya, 2013. "India," Chapters,in: Asia Rising, chapter 10, pages 285-312 Edward Elgar Publishing.

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