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India : the emerging giant

Author: Arvind Panagariya
Publisher: New York, N.Y. : Oxford University Press, 2008.
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
India is not only the world's largest and fiercely independent democracy, but also an emerging economic giant. But to date there has been no comprehensive account of India's remarkable growth or the role policy has played in fueling this expansion. India: The Emerging Giant fills this gap, shedding light on one of the most successful experiments in economic development in modern history. Why did the early promise of
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Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Arvind Panagariya
ISBN: 9780195315035 0195315030
OCLC Number: 166317514
Description: xxx, 514 pages : illustrations ; 25 cm
Contents: 1. Distinguishing four phases --
2. Phase I (1951-65) : takeoff under a liberal regime --
3. Phase II (1965-81) : socialism strikes with a vengeance --
4. Phase III (1981-88) : liberalization by stealth --
5. Phase IV (1988-2006) : triumph of liberalization --
6. A tale of two countries : India and the Republic of Korea --
7. Declining poverty : the human face of reforms --
8. Inequality : a lesser problem --
9. Deficits and debt : Is a crisis around the corner? --
10. The external sector : On the road to capital account convertibility? --
11. The financial sector : Why not privatize the banks? --
12. International trade : carrying liberalization forward --
13. Industry and services : walking on two legs --
14. Modernizing agriculture --
15. Tax reform : toward a uniform goods and services tax --
16. Tackling subsidies and reforming the civil service --
17. Telecommunications and electricity : contrasting experiences --
18. Transportation : a solvable problem --
19. Health and water supply and sanitation : Can the government deliver? --
20. Education : expenditures or transfers?
Responsibility: Arvind Panagariya.
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Abstract:

India is not only the world's largest and fiercely independent democracy, but also an emerging economic giant. But to date there has been no comprehensive account of India's remarkable growth or the role policy has played in fueling this expansion. India: The Emerging Giant fills this gap, shedding light on one of the most successful experiments in economic development in modern history. Why did the early promise of the Indian economy not materialize and what led to its eventual turnaround? What policy initiatives have been undertaken in the last twenty years and how do they relate to the upward shift in the growth rate? What must be done to push the growth rate to double-digit levels? To answer these crucial questions, Arvind Panagariya offers a brilliant analysis of India's economy over the last fifty years--from the promising start in the 1950s, to the near debacle of the 1970s (when India came to be regarded as a "basket case"), to the phenomenal about face of the last two decades. The author illuminates the ways that government policies have promoted economic growth (or, in the case of Indira Gandhi's policies, economic stagnation), and offers insightful discussions of such key topics as poverty and inequality, tax reform, telecommunications (perhaps the single most important success story), agriculture and transportation, and the government's role in health, education, and sanitation. The dramatic change in the fortunes of 1.1 billion people has, not surprisingly, generated tremendous interest in the economy of India. Arvind Panagariya offers the first major account of how this has come about and what more India must do to sustain its rapid growth and alleviate poverty. It will be must reading for everyone interested in modern India, foreign affairs, or the world economy.

The subject of India's rapid growth in recent years has become a prominent focus in the public eye. Documenting this growth, and addressing the issues raised by it, Arvind Panagariya offers a sweeping survey that describes and analyzes India's economic development since independence, as well as its prospects for the future.

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A seminal [work] and a must for all serious students of India's economic history and the rapid changes that the country is going through... An extremely useful reference book for any person who needs Read more...

 
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