IDEAS home Printed from https://ideas.repec.org/p/ess/wpaper/id3277.html
   My bibliography  Save this paper

Asian Century: A Comparative Analysis of Growth in China, India and other Asian Economies

Author

Listed:
  • Kaushik Basu

Abstract

The paper argues that if the Chinese economy had failed, mainstream economics would have described this as completely predictable, given the extent and nature of involvement of the Chinese state in the functioning of markets and the economy. The fact that China has succeeded therefore should lead us to question our textbook doctrines of development. Much of this paper is presented as a comparative study of India, China and, briefly, other Asian nations.

Suggested Citation

  • Kaushik Basu, 2010. "Asian Century: A Comparative Analysis of Growth in China, India and other Asian Economies," Working Papers id:3277, eSocialSciences.
  • Handle: RePEc:ess:wpaper:id:3277
    Note: Institutional Papers
    as

    Download full text from publisher

    File URL: http://www.esocialsciences.org/Download/repecDownload.aspx?fname=Document1612201000.5553705.pdf&fcategory=Articles&AId=3277&fref=repec
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kaushik Basu & Annemie Maertens, 2007. "The pattern and causes of economic growth in India," Oxford Review of Economic Policy, Oxford University Press, vol. 23(2), pages 143-167, Summer.
    2. David Dollar & Shang-Jin Wei, 2007. "Das (Wasted) Kapital: Firm Ownership and Investment Efficiency in China," NBER Working Papers 13103, National Bureau of Economic Research, Inc.
    3. Mr. Arvind Subramanian & Mr. Dani Rodrik, 2004. "Why India Can Grow At 7 Percent a Year or More: Projections and Reflections," IMF Working Papers 2004/118, International Monetary Fund.
    4. Panagariya, Arvind, 2011. "India: The Emerging Giant," OUP Catalogue, Oxford University Press, number 9780199751563.
    5. Fields, Gary S. & Wan, Henry Jr., 1989. "Wage-setting institutions and economic growth," World Development, Elsevier, vol. 17(9), pages 1471-1483, September.
    6. Basu, Kaushik, 2003. "Prelude to Political Economy: A Study of the Social and Political Foundations of Economics," OUP Catalogue, Oxford University Press, number 9780199261857.
    7. Ramkishen S. Rajan & David A. Kelly, 2006. "Introduction to 'Managing Globalisation': Lessons from China and India," Working Papers id:634, eSocialSciences.
    8. Mario Biggeri & Marco Sanfilippo, 2009. "Understanding China's move into Africa: an empirical analysis," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 7(1), pages 31-54.
    9. T. N. Srinivasan, 2005. "Comments on "From 'Hindu Growth' to Productivity Surge: The Mystery of the Indian Growth Transition"," IMF Staff Papers, Palgrave Macmillan, vol. 52(2), pages 229-233, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Beretta, Silvio & Targetti Lenti, Renata, 2011. "“India in the Outsourcing/Offshoring Process: A Western Perspective” - L’India nel processo di outsourcing/offshoring: un punto di vista occidentale," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 64(3), pages 269-296.
    2. Agarwal, Manmohan & Whalley, John, 2013. "The 1991 Reforms, Indian Economic Growth, and Social Progress," CAGE Online Working Paper Series 128, Competitive Advantage in the Global Economy (CAGE).
    3. Chakraborty, Shankha & Thompson, Jon C. & Yehoue, Etienne B., 2016. "The culture of entrepreneurship," Journal of Economic Theory, Elsevier, vol. 163(C), pages 288-317.
    4. Peter E. Robertson, 2012. "Deciphering the Hindu growth epic," Indian Growth and Development Review, Emerald Group Publishing, vol. 5(1), pages 51-69, April.
    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. Kaushik Basu & Annemie Maertens, 2007. "The pattern and causes of economic growth in India," Oxford Review of Economic Policy, Oxford University Press, vol. 23(2), pages 143-167, Summer.
    7. Takatoshi ITO & Akira KOJIMA & Colin McKENZIE & Shujiro URATA, 2009. "Editors’ Overview," Asian Economic Policy Review, Japan Center for Economic Research, vol. 4(1), pages 1-18, June.
    8. Kalim Siddiqui, 2015. "Challenges for Industrialisation in India: State versus Market Policies," Research in World Economy, Research in World Economy, Sciedu Press, vol. 6(2), pages 85-98, June.
    9. Nomoto, Takaaki, 2016. "Rainfall Variability and Macroeconomic Performance:A Case Study of India, 1952–2013," MPRA Paper 71976, University Library of Munich, Germany.
    10. Laishram Ladusingh & M.R. Narayana, 2012. "Demographic dividends for India: evidence and implications based on National Transfer Accounts," Chapters, in: Donghyun Park & Sang-Hyop Lee & Andrew Mason (ed.), Aging, Economic Growth, and Old-Age Security in Asia, chapter 7, pages 203-230, Edward Elgar Publishing.
    11. Ejaz Ghani, 2011. "Reshaping Tomorrow : Is South Asia Ready for the Big Leap?," World Bank Publications, The World Bank, number 16360.
    12. Takatoshi ITO & Akira KOJIMA & Colin McKENZIE & Shujiro URATA, 2009. "Editors’ Overview," Asian Economic Policy Review, Japan Center for Economic Research, vol. 4(1), pages 1-18, June.
    13. Prema-chandra Athukorala, 2017. "India’s Long Road: The Search for Prosperity by Vijay Joshi Oxford University Press, Oxford, 2016 Pp. xi + 345. ISBN 978 0 19 061013 5," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 31(2), pages 137-145, November.
    14. Shruti Rajagopalan, 2015. "Incompatible institutions: socialism versus constitutionalism in India," Constitutional Political Economy, Springer, vol. 26(3), pages 328-355, September.
    15. Banerjee, Rajabrata & Roy, Saikat Sinha, 2014. "Human capital, technological progress and trade: What explains India's long run growth?," Journal of Asian Economics, Elsevier, vol. 30(C), pages 15-31.
    16. Kaushik Basu, 2008. "The Enigma of India," Journal of Economic Literature, American Economic Association, vol. 46(2), pages 396-406, June.
    17. Mazumdar, Surajit, 2008. "Investment and growth in India under liberalization: Asymmetries and Instabilities," MPRA Paper 19629, University Library of Munich, Germany.
    18. Karla Hoff & Mayuresh Kshetramade & Ernst Fehr, 2011. "Caste and Punishment: the Legacy of Caste Culture in Norm Enforcement," Economic Journal, Royal Economic Society, vol. 121(556), pages 449-475, November.
    19. Manas Ranjan Bhowmik & Saswata Guha Thakurata & Debolina Biswas, 2020. "Economic Growth and Rural Crisis in India: Imagining Cooperatives as a Viable Solution," Agrarian South: Journal of Political Economy, Centre for Agrarian Research and Education for South, vol. 9(2), pages 228-254, August.
    20. Chen, Zhao & Poncet, Sandra & Xiong, Ruixiang, 2020. "Local financial development and constraints on domestic private-firm exports: Evidence from city commercial banks in China," Journal of Comparative Economics, Elsevier, vol. 48(1), pages 56-75.

    More about this item

    Keywords

    asian nations; development; markets; growth; GDP; entrepreneurship; Japan; korea; India; China; chinese economy; economics;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ess:wpaper:id:3277. 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: . General contact details of provider: http://www.esocialsciences.org .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Padma Prakash (email available below). General contact details of provider: http://www.esocialsciences.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.