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Journal of Economic Literature: Vol. 46 No. 2 (June 2008)
JEL Volume. 46, Issue 2 |
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JEL Indexes (Members Only)The Enigma of India
Article Citation
Basu, Kaushik. 2008. "The Enigma of India."
Journal of Economic Literature,
46(2): 396-406.
DOI: 10.1257/jel.46.2.396
DOI: 10.1257/jel.46.2.396
Abstract
India's high growth over the last fifteen years has inspired several recent books and
papers to examine the growth's source and sustainability--the two-volume study by
Arvind Virmani being a case in point. This paper evaluates these recent works. It is
argued that the cause of the take-off does not fit into any easy ideological category as
suggested by Virmani. The current high growth has been achieved in several steps, with
distinct factors of propulsion behind each step. There is reason to expect the growth to
be sustainable, although destabilizing political tensions will arise from the increasing
inequality. The paper also evaluates how India's growth relates to the global economy.
Article Full-Text Access
Full-text Article
Authors
Basu, Kaushik (Cornell U)
JEL Classifications
F02: International Economic Order
O11: Macroeconomic Analyses of Economic Development
O17: Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
O47: Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
O53: Economywide Country Studies: Asia including Middle East
Q01: Sustainable Development
O11: Macroeconomic Analyses of Economic Development
O17: Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
O47: Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
O53: Economywide Country Studies: Asia including Middle East
Q01: Sustainable Development

