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

Authors: Kotwal, Ashok; Ramaswami, Bharat; Wadhwa, Wilima

Source: Journal of Economic Literature, Volume 49, Number 4, December 2011 , pp. 1152-1199(48)

Publisher: American Economic Association

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Abstract:

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.

Document Type: Research article

DOI: http://dx.doi.org/10.1257/jel.49.4.1152

Publication date: 2011-12-01

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The Journal of Economic Literature (JEL) began publication in 1969 under the auspices of the American Economic Association with quarterly issues appearing in March, June, September, and December. JEL contains survey and review articles, book reviews, an annotated bibliography of newly published books, and a list of current dissertations in North American universities.
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