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Strengthening India's Strategy for Economic Growth

Author

Listed:
  • Bajpai, N.
  • Sachs, J.D.

Abstract

We suggest a three-pronged approach to an enhanced growth strategy for India. The first prong is export-led growth. Here the lessons of China are particularly instructive, since China achieved in the past fifteen years the kind of export-led growth that India could have achieved, but failed to do so, because of poor public policies. The second prong is rural improvement, especially in the vast population of the Gangetic valley. India needs a specific strategy to bring modern economic growth to rural India, through a concerted campaign of infrastructure upgrading and appropriate re-design of state policy. The third prong is the maintenance of macroeconomic stability, to avoid the kind of crisis that pushed East Asia into economic collapse. The macroeconomic stakes have obviously been raised in the past year.

Suggested Citation

  • Bajpai, N. & Sachs, J.D., 1998. "Strengthening India's Strategy for Economic Growth," Papers 641, Harvard - Institute for International Development.
  • Handle: RePEc:fth:harvid:641
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    Cited by:

    1. Tabrizy, Saleh S. & Trofimenko, Natalia, 2010. "Scope for export-led growth in a large emerging economy: Is India learning by exporting?," Kiel Working Papers 1633, Kiel Institute for the World Economy (IfW).
    2. Sharma, Chandan & Mishra, Ritesh Kumar, 2015. "International trade and performance of firms: Unraveling export, import and productivity puzzle," The Quarterly Review of Economics and Finance, Elsevier, vol. 57(C), pages 61-74.

    More about this item

    Keywords

    ECONOMIC GROWTH;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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