Visible hand: Public policy and economic growth in the Nehru era
This paper investigates the relationship between the policy regime and growth during 1950-64 termed here `the Nehru era'. While there exist valuable early appraisals of the period, access to new data and fresh information allows for a longer and comparative view of the outcome. We find overwhelming evidence not only of resurgent growth but also of a lasting transformation of a stagnant colonial enclave into an economy with firmer foundations capable of sustained growth. It is useful to recognise the economic policy of this period as distinct, not only from what preceded it but also from what came after, for that facilitates an understanding of the political conditions needed for economic interventions which are growth inducing. The paper also addresses some lingering perceptions of the economic policy of the time, notably its impact on agriculture and the governance of the public enterprises. The shibboleth `Hindu rate of growth', presumably a broad-brush description of movement in this period, manages to obscure the extraordinary economic dynamics of the Nehru era.
|Date of creation:||Nov 2007|
|Contact details of provider:|| Postal: Peasanth Nagar, Trivandrum 695 011, Kerala|
Phone: +91 471 2448 881
Fax: +91 471 2447 137
Web page: http://www.cds.edu
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Romer, Paul M, 1986.
"Increasing Returns and Long-run Growth,"
Journal of Political Economy,
University of Chicago Press, vol. 94(5), pages 1002-1037, October.
- Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
- Hankla, Charles Robert, 2006. "Party Linkages and Economic Policy: An Examination of Indira Gandhi's India," Business and Politics, Cambridge University Press, vol. 8(03), pages 1-29, December.
- Hankla Charles Robert, 2006. "Party Linkages and Economic Policy: An Examination of Indira Gandhi's India," Business and Politics, De Gruyter, vol. 8(3), pages 1-31, December.
- Mohan, Rakesh & Aggarwal, Vandana, 1990. "Commands and controls: Planning for indian industrial development, 1951-1990," Journal of Comparative Economics, Elsevier, vol. 14(4), pages 681-712, December.
- Dani Rodrik, 2008. "Goodbye Washington Consensus, Hello Washington Confusion? A Review of the World Banks Economic Growth in the 1990s: Learning from a Decade of Reform," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 55(2), pages 135-156, June.
- Dani Rodrik, 2006. "Goodbye Washington Consensus, Hello Washington Confusion? A Review of the World Bank's Economic Growth in the 1990s: Learning from a Decade of Reform," Journal of Economic Literature, American Economic Association, vol. 44(4), pages 973-987, December.
- Dibyendu S. Maiti, 2005. "Organisational morphology of rural industries in liberalised India: A study of West Bengal," Centre for Development Studies, Trivendrum Working Papers 371, Centre for Development Studies, Trivendrum, India.
- Dibyendu S. Maiti, 2006. "Organisational Morphology of Rural Industries in Liberalised India: A Study of West Bengal," Working Papers id:746, eSocialSciences.
- Raj Krishna, 1988. "Ideology and Economic Policy," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 23(1), pages 1-26, January.
- Sunil Mani, 2005. "Keeping pace with globalisation innovation capability in Korea's telecommunications equipment industry," Centre for Development Studies, Trivendrum Working Papers 370, Centre for Development Studies, Trivendrum, India.
- Sunil Mani, 2006. "Keeping Pace with Globalisation Innovation Capability in Korea's Telecommunications Equipment Industry," Working Papers id:745, eSocialSciences.
When requesting a correction, please mention this item's handle: RePEc:ind:cdswpp:391. 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: (Shamprasad M. Pujar)
If references are entirely missing, you can add them using this form.