Economic Liberalization and Indian Economic Growth: What's the Evidence?

India's growth and poverty performance over the last three decades has been a subject of great curiosity. Unlike the East Asian countries, India's growth spurt is not associated with exceptionally high domestic savings or foreign capital inflows or manufacturing exports. So what triggered...

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Bibliographic Details
Published inJournal of economic literature Vol. 49; no. 4; pp. 1152 - 1199
Main Authors Kotwal, Ashok, Ramaswami, Bharat, Wadhwa, Wilima
Format Journal Article
LanguageEnglish
Published Nashville American Economic Association 01.12.2011
Assoc
Subjects
1950-2004
Agriculture
Crop economics
Crops
Deregulation
Deregulierung
Economic growth
Economic growth rate
Economic liberalism
Economic liberalization
Economic reform
Employment
Exports
Foreign capital
GDP
Gross Domestic Product
Hypotheses
India
Indien
Labor force
Liberalization
Manufacturing
Manufacturing industries
Market structure
Poverty
Productivity
Reform
Savings
Studies
Wirtschaftsreform
Wirtschaftswachstum
India
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Summary:India's growth and poverty performance over the last three decades has been a subject of great curiosity. Unlike the East Asian countries, India's growth spurt is not associated with exceptionally high domestic savings or foreign capital inflows or manufacturing exports. So what triggered the change in the growth trajectory? Did the market liberalization policies of the 1990s help? How have the initial conditions shaped the process? And how has the "Indian model" impinged on India's central problem of mass poverty? This paper surveys the literature and offers its own assessment of the drivers of change.
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ISSN:0022-0515
2328-8175
DOI:10.1257/jel.49.4.1152