The purpose of this study is to analyse the relationship between social structure and economic performance in India and Pakistan. It seeks to establish whether the social system had a significant dysfunctional role in hindering growth in the past, and whether the situation has changed since independence. It analyses the extent to which governments in office really tried to change the social structure and the degree to which their rhetorical commitments were constrained by the inertia of tradition and by the vested interests which inherited economic and social power.
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.
"Economists and policy analysts can influence economic-policy outcomes at various levels. Those directly employed in the government can influence their other bureaucratic colleagues and politicians. They serve on important committees appointed to recommend solutions to specific policy problems. Reports of these committees can effectively strengthen the existing regime or inject new ideas for change. Economists and policy analysts outside the government can influence the thinking of politicians and bureaucrats through their writings, speeches, and media interviews. But they also influence broader public opinion. As educators in academic institutions, they shape the thinking of future generations"--
The main contribution of this book lies in its focus on real alternatives in future population growth. At some time-taken as 1956 in India for this case study-a low-income country may have the option of effectively promoting the reduction of fertility, or (by inaction) of permitting fertility to remain at high levels. This book clearly shows the nature and extent of the economic gains resulting from fertility reduction. Since most low-income areas are destined for rapid population growth even with substantial fertility declines, the emphasis is placed between moderately rapid and very rapid growth. The extensive quantitative population projections show the importance of the growth rate itself and of changes in age distribution in addition to population size. The results for India have direct implications for all low-income, primarily agrarian areas entering a program of economic development. Originally published in 1958. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
