India s Emerging Economy Performance and Prospects in the 1990s and Beyond 1st Edition by Kaushik Basu ISBN 0262025566 9780262025560
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ISBN 10: 0262025566
ISBN 13: 9780262025560
Author: Kaushik Basu
Essays by leading academics, policymakers, and industrialists examine India’s economic success in the late 1990s.
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.
Table of contents:
I. Introduction
1 The Indian Economy: Up to 1991 and Since – Kaushik Basu
II. Political Economy of India
2. Democracy and Secularism in India – Amartya Sen
3. Disjunctures in the Indian Reform Process: Some Reflections – Pranab Bardhan
III. Monetary and Fiscal Reforms
4. Monetary and Financial Sector Reforms in India: A Practitioner’s Perspective – Y. V. Reddy
5. Some Macroeconomics of India’s Reform Experience – Mihir Rakshit
6. State-Level Fiscal Reforms in India – M. Govinda Rao
IV. Poverty and Public Goods
7. Policies for Pro-Poor Growth in India – Manuela Ferro, David Rosenblatt, Nicholas Stern
8. Who Is Getting the Public Goods in India? Some Evidence and Some Speculation – Abhijit V. Banerjee
V. Technology and Takeoff
9. The Impact of Economic Reforms on Industry in India: A Case Study of the Software Industry – N. R. Narayana Murthy
10. Information Technology and India’s Economic Development – Nirvikar Singh
VI. Grassroots and the Globe
11. India’s Informal Economy: Facing the Twenty-First Century – Barbara Harriss-White
12. Globalization and Economic Reform as Seen from the Ground: SEWA’s Experience in India – Renana Jhabvala, Ravi Kanbur
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Tags: Kaushik Basu, India, Emerging, Economy, Performance, Prospects, 1990s, Beyond