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Economic Growth in India: History and Prospect

Author

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  • Balakrishnan, Pulapre

    (Centre for Contemporary Studies, Nehru Memorial Museum and Library, New Delhi and Centre for International Trade and Development, School of International Studies, Jawaharlal Nehru University, New Delhi)

Abstract

It is a measure of the youthfulness of economics as a discipline that two centuries after the appearance of Adam Smith's landmark treatise The Wealth of Nations, an economist has posed the question 'How do economies grow?' This comprehensive study of economic growth in India is intended as a response to this question. As history, it surveys the half century from the end of colonial rule to the present; as prognosis, it focuses on what we may expect in the immediate future. Drawing upon diverse strands of theory, historical perspective, political economy, and econometrics, the book presents an eclectic and original narrative of the Indian growth experience. The main body of the book is divided into four chapters. Chapter 1 provides a critical exposition of some prominent theoretical representations of growth and a historical perspective on its drivers. The remaining three chapters provide a fresh analysis of three periods, respectively, 1950-64, 1965-91, and 1991 onwards. Presenting a favourable appraisal of the growth record of early independent India and an account of how the advantage was lost, the book argues that it is not just 'more reforms' that stand in the way of sustained double-digit growth rates. The prospects for high long-term growth in India are instead linked with development of agriculture and education, particularly schooling. Further, the author proposes that inclusive growth is not just some optional extra, however desirable, but intrinsic to the prosperity of the country. The possibility of such an outcome, he argues, is tied more to the state's capacity to govern the public institutions once created by it than its command over resources. Available in OSO: http://www.oxfordscholarship.com/oso/public/content/economicsfinance/9780198065470/toc.html

Suggested Citation

  • Balakrishnan, Pulapre, 2010. "Economic Growth in India: History and Prospect," OUP Catalogue, Oxford University Press, number 9780198065470.
  • Handle: RePEc:oxp:obooks:9780198065470
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    Cited by:

    1. Effah Nyamekye, Gabriel, 2016. "What is the effect of globalisation on the performance of the service sector of Ghana?," MPRA Paper 71841, University Library of Munich, Germany.
    2. Basole, Amit & Basu, Deepankar, 2015. "Fuelling Calorie Intake Decline: Household-Level Evidence from Rural India," World Development, Elsevier, vol. 68(C), pages 82-95.
    3. Deepankar Basu & Amit Basole, 2012. "The Calorie Consumption Puzzle in India: An Empirical Investigation," UMASS Amherst Economics Working Papers 2012-07, University of Massachusetts Amherst, Department of Economics.
    4. Sripad Motiram & Karthikeya Naraparaju, 2013. "Growth and Deprivation in India: What Does Recent Data Say?," Working Papers 287, ECINEQ, Society for the Study of Economic Inequality.
    5. Gupta, Bishnupriya, 2018. "Falling Behind and Catching up: India’s Transition from a Colonial Economy," CAGE Online Working Paper Series 355, Competitive Advantage in the Global Economy (CAGE).
    6. Sripad Motiram & Karthikeya Naraparaju, 2013. "Growth and Deprivation in India: What Does Recent Data Say?," Working Papers id:5279, eSocialSciences.
    7. Albin, Thaarcis, 2012. "Did liberal eonomic regime contribute to the growth performance of the manufacturing sector in India?," MPRA Paper 43181, University Library of Munich, Germany, revised 12 Dec 2012.
    8. Dunkley, Graham, 2016. "One World Mania," University of Chicago Press Economics Books, University of Chicago Press, number 9781783600731.
    9. Sripad Motiram & Ashish Singh, 2012. "How close does the apple fall to the tree? Some evidence on intergenerational occupational mobility from India," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2012-017, Indira Gandhi Institute of Development Research, Mumbai, India.
    10. Gupta, Bishnupriya, 2018. "Falling Behind and Catching up : India’s Transition from a Colonial Economy," The Warwick Economics Research Paper Series (TWERPS) 1147, University of Warwick, Department of Economics.
    11. repec:eee:asieco:v:50:y:2017:i:c:p:46-61 is not listed on IDEAS

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