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India in the 1980's and 1990's: A Triumph of Reforms

  • Arvind Panagariya

Bradford DeLong and Dani Rodrik have argued that reforms in India cannot be credited with higher growth because the growth rate crossed the 5 percent mark in the 1980s, well before the launch of the July 1991 reforms. This is a wrong reading of the Indian experience for two reasons. First, liberalization was already under way during the 1980s and played a crucial role in stimulating growth during that decade. Second, growth in the 1980s was fragile and unsustainable. The more systematic and systemic reforms of the 1990s, discussed here in detail, gave rise to more sustainable growth. The paper concludes by explaining why the growth rate in India nevertheless continues to trail that of China.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 04/43.

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Length: 38
Date of creation: 01 Mar 2004
Date of revision:
Handle: RePEc:imf:imfwpa:04/43
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  1. Francisco Alcalá & Antonio Ciccone, 2004. "Trade and Productivity," The Quarterly Journal of Economics, MIT Press, vol. 119(2), pages 612-645, May.
  2. Panagariya, Arvind, 1990. "Indicative planning in India: Discussion," Journal of Comparative Economics, Elsevier, vol. 14(4), pages 736-742, December.
  3. 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, May.
  4. Ashok V. Desai, 1999. "The Economics and Politics of Transition to an Open Market Economy: India," OECD Development Centre Working Papers 155, OECD Publishing.
  5. Satish Chand & Kunal Sen, 1996. "Trade Liberalization and Productivity Growth: Evidence from Indian Manufacturing," Departmental Working Papers 1996-11, The Australian National University, Arndt-Corden Department of Economics.
  6. Jagdish N. Bhagwati & T. N. Srinivasan, 1975. "Foreign Trade Regimes and Economic Development: India," NBER Books, National Bureau of Economic Research, Inc, number bhag75-1, September.
  7. Poonam Gupta & James P. F. Gordon, 2004. "Understanding India’s Services Revolution," IMF Working Papers 04/171, International Monetary Fund.
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  1. تاریخ اقتصاد هند in Wikipedia Persian ne '')
  2. Kinh tế Ấn Độ in Wikipedia Vietnamese ne '')
  3. เศรษฐกิจอินเดีย in Wikipedia Thai ne '')
  4. Wikiprojekt:Tłumaczenie artykułów/Gospodarka Indii in Wikipedia Polish ne '')
  5. 印度经济 in Wikipedia Chinese ne '')
  6. اقتصاد الهند in Wikipedia Arabic ne '')
  7. インドの経済 in Wikipedia Japanese ne '')
  8. Economy of India in Wikipedia English ne '')
  9. Microeconomic reform in Wikipedia English ne '')

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