India in the 1980's and 1990's; A Triumph of Reforms
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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"Trade Liberalization and Productivity Growth: Evidence from Indian Manufacturing,"
Trade and Development
96/11, Australian National University, Department of Economics.
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- Francisco Alcalá & Antonio Ciccone, 2001.
"Trade and productivity,"
Economics Working Papers
580, Department of Economics and Business, Universitat Pompeu Fabra, revised Jul 2002.
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- 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.
- 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.
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