The economic reforms that commenced in 1991 have had profound impacts on the Indian economy. Though there are important arguments regarding the finer details of these reforms, there is little published work which challenges their indispensability. This edited volume brings together active young researchers and established scholars to analyse the profound changes occurring in the Indian economy and to suggest preferred policy options. A large number of issues are covered, including monetary and financial policy; export and trade regimes; investment; the fiscal deficit; technology adoptions; and India's social sector.
'Clear and concise and the quantity of supporting data is excellent throughout.' - Matthew McCartney, The Journal of Development Studies
'Goes beyond a routine treatment of the subjects considered...the chapter ( 'Do Productivity Spillovers from Japanese and US Firms Differ') is a must read with a number of insights.' - B. S. Misra, EPW Book Review
Introduction
PART I: FINANCIAL SECTOR DEVELOPMENTS
Issues in the Choice of a Monetary Regime for India; W.J.McKibbin & K.Singh
On the Endogeneity of the Money Multiplier in India; R.Jha & D.P.Rath
Financial Fragility in Indian Stock Markets: The Decade of the Nineties - A Time Series Study; A.Sarkar, K.K.Roy & S.K.Mallick
A Perspective on Saving, Investment and Macroeconomic Policies in India in the 1990s; M.Saggar
Exchange Rate Policy in India; P.Sen
Macroeconomics of Credit: An Indian Perspective; D.P.Rath & D.Bose
The Fiscal Constraint on India's Economic Growth; R.Jha, S.Chand & A.Sharma
PART II: THE INDUSTRIAL SECTOR
Technology, Productivity and Export Growth of Engineering Industry in India; A.Kumari
Public and Private Investment Expenditure and its Linkages with FDI: A Case Study of India; S.Tutakne, S.Gupta & P.Apte
Liberalisation and Business Investment in India; P.C.Athukorala & K.Sen
The Current State of Corporate Governance in India; S.B.Dahiya & D.Gupta
PART III: INDIA'S EXPOSURE TO THE GLOBAL ECONOMY
The Impact of a Decade of India's Trade Reforms; K.Kalirajan
Do Productivity Spillovers from Japanese and US Firms differ; R.Banga
PART IV: SECTORAL AND REGIONAL ISSUES
Growth in India's State Economies Before and With Reforms: Shares and Determinants; S.Bhide & R.Shand
Testing Market Integration in Indian Agriculture; E.Wilson
Indian Software Industry: Growth Patterns, Constraints and Government Initiatives; C.Chakraborty & D.Dutta
India's Infrastructure Sector; R.Jha and P.Thapa
PART V: INDIAN SOCIAL SECTOR
Income Generation Program and Empowerment of Women: A Case Study in India; S.Basu & P.Basu
Are the Poor More Vulnerable to Income Shocks? An Analysis of Consumption Insurance in Rural India; P.Maitra
Rural Poverty in India: Structure, Determinants and Suggestions for Policy Reform; R.Jha
RAGHBENDRA JHA is Professor and Executive Director of Australia South Asia Research Centre at the Australian National University. Previous appointments include Colombia University and Williams College (US) and Delhi School of Economics and IGIDR (India). He has authored seventeen books and numerous scientific papers.