India has shown considerable dynamic change since the mid-1980s, after experiencing slower growth for much of the post-Independence period. The post-reform Indian economy has defied established economic patterns and, in the process, created a few paradoxes. In The Oxford Handbook of the Indian Economy in the 21st Century, acknowledged experts delve into the unique features of India’s growth path and debate the relative importance of external factors compared to domestic reforms such as better governance.
While openness provided significant benefits, did the gradualness of the process mitigate risks or did it reduce growth? Were external shocks or poor domestic policies responsible for inflation? Were the advantages of new technology fully utilized by the country? Despite similarities with China, will critical differences force India to follow a growth path that has better balance between domestic and export demand?
These and other relevant issues are discussed in this handbook, which:
adopts a context-rich, research-based, non-ideological approach, provides a comprehensive yet forward-looking coverage of economic issues, includes political and social aspects and draws on policymaker and market-participant perspectives, and brings to the fore the various aspects of India’s performance that now attract global attention.
This work identifies constraints that have emerged in India’s growth prospects, and highlights policies, institutions, and incentives that have worked and offer a promise for the future.
There are no reviews yet.