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

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  • 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.

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  • 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
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    References listed on IDEAS

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    1. Kaushik Basu & Annemie Maertens, 2007. "The pattern and causes of economic growth in India," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 23(2), pages 143-167, Summer.
    2. David Dollar & Shang-Jin Wei, 2007. "Das (Wasted) Kapital: Firm Ownership and Investment Efficiency in China," IMF Working Papers 2007/009, International Monetary Fund.
    3. Panagariya, Arvind, 2011. "India: The Emerging Giant," OUP Catalogue, Oxford University Press, number 9780199751563.
    4. Fields, Gary S. & Wan, Henry Jr., 1989. "Wage-setting institutions and economic growth," World Development, Elsevier, vol. 17(9), pages 1471-1483, September.
    5. Basu, Kaushik, 2003. "Prelude to Political Economy: A Study of the Social and Political Foundations of Economics," OUP Catalogue, Oxford University Press, number 9780199261857, Decembrie.
    6. Angus Deaton and Jean Drèze & Jean Drèze, 2002. "Poverty and Inequality in India: A Reexamination," Working papers 107, Centre for Development Economics, Delhi School of Economics.
    7. Mr. Dani Rodrik & Mr. Arvind Subramanian, 2004. "Why India Can Grow At 7 Percent a Year or More: Projections and Reflections," IMF Working Papers 2004/118, International Monetary Fund.
    8. Ramkishen S. Rajan & David A. Kelly, 2006. "Introduction to 'Managing Globalisation': Lessons from China and India," Working Papers id:634, eSocialSciences.
    9. 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.
    10. 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.
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    More about this item

    Keywords

    asian nations; development; markets; growth; GDP; entrepreneurship; Japan; korea; India; China; chinese economy; economics;
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