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Breaking the Mould: Thoughts on Punjab’s Future Economic Development

In: Economic Transformation of a Developing Economy

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  • Nirvikar Singh

    (University of California)

Abstract

The economy of Punjab state in India offers an interesting case study. Punjab has been for decades––and remains––one of India’s better-off states, and so it tends not be included in the primary focus of national programs meant to reduce poverty or spur economic development. But, Punjab’s relative economic position within India has declined rapidly in recent years. This decline has been accompanied by environmental problems and symptoms of deep social malaise. As will be argued in this chapter, Punjab is facing a multidimensional crisis that requires urgent attention. This chapter provides an overview of Punjab’s crisis, through an analysis of the dynamics of Punjab’s economic development as shaped by its political economy, its social dynamics and exogenous events since independence. It argues that one can understand both Punjab’s success in certain areas of agriculture and its subsequent relative decline in terms of the interaction of these factors. It uses this historical analysis to provide an assessment of Punjab’s future economic development, in terms of the structural changes that are needed, and how these can be encouraged or implemented by policy makers within the constraints of its current political–economic equilibrium.

Suggested Citation

  • Nirvikar Singh, 2016. "Breaking the Mould: Thoughts on Punjab’s Future Economic Development," India Studies in Business and Economics, in: Lakhwinder Singh & Nirvikar Singh (ed.), Economic Transformation of a Developing Economy, edition 1, chapter 0, pages 451-466, Springer.
    • Handle: RePEc:spr:isbchp:978-981-10-0197-0_21
    DOI: 10.1007/978-981-10-0197-0_21
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    1. Rajan, Raghuram & Zingales, Luigi, 2006. "The Persistence of Underdevelopment: Institutions, Human Capital or Constituencies," CEPR Discussion Papers 5867, C.E.P.R. Discussion Papers.
    2. Philippe Aghion, 2005. "Growth and Institutions," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 32(1), pages 3-18, March.
    3. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472, Elsevier.
    4. Inderjit Kaur & Nirvikar Singh, 2013. "China, India, And Industrial Policy For Inclusive Growth," China Economic Policy Review (CEPR), World Scientific Publishing Co. Pte. Ltd., vol. 2(01), pages 1-27.
    5. Tapas K. Sen, 2016. "Public Finances and Development: The Case of Punjab," India Studies in Business and Economics, in: Lakhwinder Singh & Nirvikar Singh (ed.), Economic Transformation of a Developing Economy, edition 1, chapter 0, pages 393-409, Springer.
    6. Beatrice Weder & Rolf Weder, 2009. "Switzerland's Rise to a Wealthy Nation: Competition and Contestability as Key Success Factors," WIDER Working Paper Series RP2009-25, World Institute for Development Economic Research (UNU-WIDER).
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    Cited by:

    1. Singh, Nirvikar, 2019. "Theories of Governance and Development: How Does India’s Experience Fit?," MPRA Paper 91049, University Library of Munich, Germany.
    2. Satinder Singh & Jatinder Singh, 2022. "Employment Scenario in Indian Punjab: Some Disquieting Features," Journal of Development Policy and Practice, , vol. 7(2), pages 158-179, July.

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