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The new era of globalization, which began in the 1980s, brought about a world without boundaries. It resulted in significant decline in costs of transportation, communication and production; considerably improved intercountry competitiveness; and broke down trade and cultural barriers among countries. However, the new order also raised several questions in its wake. Surjit S. Bhalla addresses these questions head on in this book. Has globalization made the world ...
There is considerable discussion in India on the urgency of second generation economic reforms. The turn of the century is seen by many as an opportunity to further accelerate India's growth rate from 6 percent to upwards of 9 percent per annum; and to reduce absolute poverty in India to single digits over the next five to ten years. India is a thriving Democracy, with a considerable amount of political freedom. However, economic freedom for its citizens has bot ...
This book presents evidence on the determinants of economic growth in India. There are two major puzzles about the Indian economy: first, why was there so title acceleration in GDP growth despite wide ranging economic reforms introduced in the two-year period 1991 to 1993. Second, what has caused the acceleration in economic growth since 2003. In addition, the book provides evidence to document that savings, investments, and GDP growth in India ...