ECONOMIC REFORMS AND GROWTH IN INDIA

This volume investigates the nature of economic growth in India, its pace over time, its relationship to changes in the policy regime and the role of the external sector and uses data to evaluate the policies that have implicitly underpinned the changes. Presenting a range of approaches, views and conclusions, this collection comprises papers from the Economic and Political Weekly that are marked by an empirical awareness necessary for an understanding of a growth history. The articles reflect a certain groundedness in their approach in that they privilege content or context over methodology. The introduction outlines the importance of putting together the writings of almost a decade on the subject, explains why the issue of development is conspicuous by its absence and presents this book as a complement to studies addressing a wider set of issues around the economy since 1990. The book is thematically divided into five sections. The first two are macroscopic in nature, focusing on the overall economic growth. While section one provides an overview, of the subject, attributing causes and delineating the phases of economic growth, the papers in the second section are largely statistical and reflect the progress made by econometricians in devising estimation methodologies. The two sections identify growth regimes and structural breaks in the Indian economy.