India's Emerging Economy: Performance and Prospects in the 1990s and Beyond

India's Emerging Economy: Performance and Prospects in the 1990s and Beyond

by Kaushik Basu
     
 

ISBN-10: 0262025566

ISBN-13: 9780262025560

Pub. Date: 03/01/2004

Publisher: MIT Press

India's economy over the last decade looks in many ways like a success story; after a major economic crisis in 1991, followed by bold reform measures, the economy has experienced a rapid economic growth rate, more foreign investment, and a boom in the information technology sector. Yet many in the country still suffer from crushing poverty, and social and political

Overview

India's economy over the last decade looks in many ways like a success story; after a major economic crisis in 1991, followed by bold reform measures, the economy has experienced a rapid economic growth rate, more foreign investment, and a boom in the information technology sector. Yet many in the country still suffer from crushing poverty, and social and political unrest remains a problem. These essays by leading academics, policymakers, and industrialists -- including one by Amartya Sen,
the 1998 winner of the Nobel Prize in economics for his work on poverty and inequality -- examine the facts of India's recent economic successes and their social and cultural context.India's rate of economic growth after the 1991 reforms were instituted reached a remarkable 7 percent for three consecutive years, from
1994 to 1997. Several contributors to India's Emerging Economy ask what this means for the nation as a whole. In his essay "Democracy and Secularism in India," Amartya
Sen argues that economic progress is not the only way to measure a nation's performance. Other essays examine the actual effect India's economic growth has had on reducing poverty and recommend policies to empower the poor. Essays also address such issues as globalization and the vulnerabilities and opportunities it creates,
India's experience with monetary and fiscal reform, the rapid growth of the information technology sector (including a case study of India's software industry),
and India's grassroots economy.

Product Details

ISBN-13:
9780262025560
Publisher:
MIT Press
Publication date:
03/01/2004
Edition description:
New Edition
Pages:
328
Product dimensions:
6.00(w) x 9.00(h) x 0.75(d)
Age Range:
18 Years

Table of Contents

Acknowledgmentsix
List of Contributorsxi
IIntroduction1
1The Indian Economy: Up to 1991 and Since3
IIPolitical Economy of India33
2Democracy and Secularism in India35
3Disjunctures in the Indian Reform Process: Some Reflections49
IIIMonetary and Fiscal Reforms59
4Monetary and Financial Sector Reforms in India: A Practitioner's Perspective61
5Some Macroeconomics of India's Reform Experience83
6State-Level Fiscal Reforms in India115
IVPoverty and Public Goods151
7Policies for Pro-Poor Growth in India153
8Who Is Getting the Public Goods in India? Some Evidence and Some Speculation183
VTechnology and Takeoff215
9The Impact of Economic Reforms on Industry in India: A Case Study of the Software Industry217
10Information Technology and India's Economic Development223
VIGrassroots and the Globe263
11India's Informal Economy: Facing the Twenty-First Century265
12Globalization and Economic Reform as Seen from the Ground: SEWA's Experience in India293
Index313

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