Trade Liberalization Policy in India
There are many explanations for apparently sudden changes in trade liberalization policy in India. This paper examines some of these explanations against the history and characteristics of trade liberalization policy in India. It proposes an additional interpretation based on the self-interested behavior of policy-makers. The interpretation is consistent with other explanations, and adds some insight into the sudden starts and stops of liberalization attempts. It also predicts that though the present liberalization may be permanent, it will not be thorough.
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