Economic Reform in India: Challenges, Prospects, and Lessons

Economic Reform in India: Challenges, Prospects, and Lessons

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Cambridge University Press, 2013-01-21
EAN 9781107020047, ISBN10: 1107020042

Hardback, 543 pages, 23.1 x 16 x 3.6 cm

The essays in this volume are written by leading economists working on the Indian economy. They collectively emphasize the importance of policies and institutions for sustained growth and poverty reduction, stressing that the success of sector-specific policies is vitally dependent on the nature of markets and the functioning of institutions such as those charged with regulating and overseeing critical sectors. Individual contributions assess the role of Indian government policy in key sectors and emphasize the policies required to ensure improvements in these sectors. The first section discusses aspects of the macro economy; the second deals with agriculture and social sectors; the third with jobs and how labor markets function in agriculture, industry and services; and the fourth with infrastructure services, specifically electricity, telecommunications and transport. The essays are drawn from the most influential papers presented in recent years on Indian economic policy at the Stanford Center for International Development.

Advance praise: 'The transformation of India in the past couple of decades from a slow growth economy to the ranks of the fastest growing economies in the world is not a mystery. Economic reforms unleashed the growth potential of the sleeping giant. But what exactly were these reforms? This volume, with contributions by an all-star cast of expert economists, is the definitive description of the wide-ranging economic reforms undertaken by the Indian government. It will be read by academics with an interest in growth and the Indian economy, as well as by policy makers around the developing world who want their countries to emulate the Indian experience.' Mohsin Khan, Rafik Hariri Center for the Middle East, Washington DC