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Basu, Kaushik. 2008. "The Enigma of India."
,
46(2): 396-406.
Show Article Details
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.
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
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