Emerging Giants: China and India in the World Economy

Hardcover | May 8, 2010

EditorBarry Eichengreen, Poonam Gupta, Rajiv Kumar

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China and India are the two most populous countries in the world and now also two of the fastest growing. By sheer virtue of the fact that China and India are home to 2.4 billion people - two-fifths of the world's population - the rapid growth of their economies has far-reachingimplications not just for global living standards and poverty reduction but also for competitiveness and distribution of income in the rest of the world. Commensurate with their economic progress, there has been a surge of interest in the nature and implications of China and India's economicgrowth. There are several apparent similarities in the development process of China and India: both are home to ancient civilizations that have bequeathed distinctive attitudes, institutions, and traditions. Both have very large populations. Both have performed well economically for more than two decades.However there are important differences that can be seen beneath the surface. China started the current reform process in 1978 - that is, almost fifteen years before India. The two countries have very different political systems. Their development models differ fundamentally as well. China hasopened up much more than India to foreign trade and foreign direct investment, while India has a better developed banking system. Growth in the two countries has been driven by different sectors - Chinese growth by manufacturing and Indian growth by services. This volume brings together some of the best research on issues related to the growth experience of China and India and places these issues in a comparative perspective. It contains papers written by some of the leading academic and experts in the world on issues ranging from the roles of China andIndia in the world economy, contrasts in their development experience, and challenges to sustaining growth.

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China and India are the two most populous countries in the world and now also two of the fastest growing. By sheer virtue of the fact that China and India are home to 2.4 billion people - two-fifths of the world's population - the rapid growth of their economies has far-reachingimplications not just for global living standards and ...

Barry Eichengreen is George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California, Berkeley. He is also a research associate of the National Bureau of Economic Research and a research fellow at the Centre for Economic Policy Research (London). Dr. Eichengreen served as a senior poli...

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Format:HardcoverDimensions:256 pages, 9.21 × 6.14 × 0.98 inPublished:May 8, 2010Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:019957507X

ISBN - 13:9780199575077

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Table of Contents

Part 1: China and India in the Global Economy1. Alan Heston: What can be Learned about the Economies of China and India from Purchasing Power Comparisons?2. Barry Bosworth, Susan Collins, and Aaron Flaaen: Trading with Asia's Giants3. Zhi Wang and Shang-Jin Wei: The Chinese Export Bundles: Patterns, Puzzles and Possible ExplanationsPart 2: Contrasts in Development Experience4. Bart Van Ark, Abdul Azeez Erumban, Vivian Chen, and Utsav Kumar: The Cost Competitiveness of Manufacturing in China and India: An Industry and Regional Perspective5. Franklin Allen, Rajesh Chakrabarti, Sankar De, Jun Qian, and Meijun Qian: Law, Institutions and Finance in China and India6. Przemek Kowalski: China and India: A Tale of Two Trade Integration ApproachesPart 3: Challenges to Sustaining Growth7. Eswar Prasad: China's Growth Model: Choices and Consequences8. Jahangir Aziz: Deconstructing China's and India's Growth: The Role of Financial Policies9. Catherine Y. Co, Fanying Kong, and Shuangling Lin: Pollution across Chinese Provinces10. Poonam Gupta, Rana Hasan, and Utsav Kumar: Employment and Growth in Indian Manufacturing Post Reform