India: The Emerging Giant by Arvind PanagariyaIndia: The Emerging Giant by Arvind Panagariya

India: The Emerging Giant

byArvind Panagariya

Paperback | May 14, 2010

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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.
Arvind Panagariya is Jagdish Bhagwati Professor of Indian Political Economy and Professor of Economics in the School of International and Public Affairs at Columbia University.
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Title:India: The Emerging GiantFormat:PaperbackProduct dimensions:544 pages, 6.1 X 9.21 X 1.18 inShipping dimensions:544 pages, 6.1 X 9.21 X 1.18 inPublished:May 14, 2010Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199751560

ISBN - 13:9780199751563

Appropriate for ages: All ages

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Table of Contents

Preface Introduction I. Growth and Economic Reforms 1. Distinguishing Four Phases 2. Phase I (1951-65): Takeoff under a Liberal Regime 3. Phase II (1965-81): Socialism Strikes with Vengeance 4. Phase III (1981-88): Liberalization by Stealth 5. Phase IV (1988-06): Triumph of Liberalization 6. A Tale of Two Countries: India and the Republic of Korea II. Poverty, Inequality and Economic Reforms 7. Declining Poverty: The Human Face of Reforms 8. Inequality: A Lesser Problem III. Macroeconomics 9. Deficits and Debt: Is a Crisis around the Corner? 10. The External Sector: On the Road to Capital Account Convertibility? 11. The Financial Sector: Why Not Privatize the Banks? IV. Transforming India 12. International Trade: Carrying Liberalization Forward 13. Industry and Services: Walking on Two Legs 14. Modernizing Agriculture V. The Government 15. Tax Reform: Towards a Uniform Goods and Services Tax 16. Tackling Subsides and Reforming the Civil Service 17. Telecommunications and Electricity: Contrasting Experiences 18. Transportation: A solvable Problem 19. Health and Water Supply and Sanitation: Can the Government Deliver? Education: Expenditures or Transfers?