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After experiencing stagnation for much of the post-independence period, India has shown considerable dynamism in processes and outcomes since the mid-eighties. The post-reform Indian Economy has defied established economic patterns and in the process created a few paradoxes. This book aims to identify policies, institutions and incentives that have worked, and constraints that have emerged in India's growth prospects. More than underdevelopment, the book analyses the bottlenecks that emerge as change occurs, to minimize the chances of being trapped into the dated habits of thought. It takes opportunity from rapidly transforming Indian economy to analyse out-of-equilibrium behaviour and understand the dynamics of non-conventional growth path.
This book provides a fresh perspective on the Indian Economy in moving away from the standard focus on underdevelopment and reforms to dynamic change and constraints that emerge in the process. Acknowledged experts on the Indian economy analyse unique features of India's path and explore interesting paradoxes. Despite inclusive political institutions, better governance and local empowerment is still a work in progress. Analysis of factors strengthening inclusiveeconomic institutions is the unifying theme of this volume and these factors are also the real source of dynamism.
This book provides a fresh perspective on the Indian Economy in moving away from the standard focus on underdevelopment and reforms to dynamic change and constraints that emerge in the process. Acknowledged experts on the Indian economy analyse unique features of India's path and explore interesting paradoxes. Despite inclusive political institutions, better governance and local empowerment is still a work in progress. Analysis of factors strengthening inclusiveeconomic institutions is the unifying theme of this volume and these factors are also the real source of dynamism.