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An exploratory study on the impact of pro-market reforms on the Indian corporate sector

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  • Amit Baran Chakrabarti
  • Sougata Ray

Abstract

Pro-market reforms were expected to increase competition, improve efficiency and reduce agency costs by improving the institutional environment in emerging markets. In an attempt to establish the macro–micro linkages of these goals, this paper aims to analyse the impact of reforms on the performance of firms belonging to different ownership categories. We find that while state owned enterprises have shown signs of convergence, the performance of other domestic firms has stagnated. Meanwhile multinational subsidiaries have shown consistently better performance, raising questions on the motive and direction of reforms. We end by discussing the policy implications and avenues for future research.

Suggested Citation

  • Amit Baran Chakrabarti & Sougata Ray, 2018. "An exploratory study on the impact of pro-market reforms on the Indian corporate sector," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 21(1), pages 1-20, January.
    • Handle: RePEc:taf:jecprf:v:21:y:2018:i:1:p:1-20
    DOI: 10.1080/17487870.2016.1235498
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    Cited by:

    1. Jin, Haizhen, 2023. "Effects of decentralization on firm performance: Evidence from Chinese county-level quasi-experiments," Economic Modelling, Elsevier, vol. 119(C).

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