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India in the 1980s and 1990s: A Triumph of Reforms:

Author

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  • Arvind Panagariya

    (Columbia University)

Abstract

Bradford DeLong and Dani Rodrik have argued that reforms in India cannot be credited with higher growth because growth rate had crossed the 5 percent mark in the 1980s, well before the launch of the July 1991 reforms. This is wrong reading of the Indian experience for two reasons. First, liberalization was already under way during the 1980s and it played a crucial role in stimulating growth during that decade. Second, growth in the 1980s was fragile and unsustainable. The more systematic and systemic reforms of the 1990s, discussed in detail in this paper, gave rise to more sustainable growth. The paper concludes with a discussion of why the growth rate in India nevertheless continues to trail that of China.

Suggested Citation

  • Arvind Panagariya, 2004. "India in the 1980s and 1990s: A Triumph of Reforms:," International Trade 0403005, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpit:0403005
    Note: Type of Document - pdf; pages: 61
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/it/papers/0403/0403005.pdf
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • F1 - International Economics - - Trade
    • F2 - International Economics - - International Factor Movements and International Business

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