- India and the World Economy, 1757–1947
- Battles Half Won: Political Economy of India's Growth and Economic Policy Since Independence
- Estimating Rural Poverty: Distributional Outcomes, Evaluations, and Policy Responses
- Microfinance: The Shg-Linkage Program
- Microinsurance: A Case Study of the Indian Rainfall Index Insurance Market
- Caste and Upward Mobility
- Performance of Indian Manufacturing in the Postreform Period
- Informal Sector and the Developing World: Relating Theory and Evidence to India
- Structural Transformation and Jobless Growth in the Indian Economy
- Development, Displacement, and Food Security: Land Acquisition in India
- Reforming Primary and Secondary Schooling
- Higher Education Reforms in India
- Health and Health Care Policy in India: The Case for Quality of Care
- Population Dynamics in India and Implications for Economic Growth
- The Dynamics and Status of India's Economic Reforms
- Political Economy of Infrastructure Spending in India
- Aspects of Bureaucratic Corruption
- Distributive Conflicts and Indian Economic Policy: Some Notes On Political Economy
- Economic Growth and Ecological Sustainability in India
- Fiscal Rules in India: are they Effective?
- Financial Frictions and Monetary Policy Transmission in India
- Monetary Policy, Capital Flows, and the Exchange Rate
- India's Trade and Exchange-Rate Policies: Understanding the Bop Crisis and the Reforms Thereafter
- Domestic Financial Sector Reforms
- The Convergence Debate and Econometric Approaches: Evidence from India
- The Globalization Debate and India
- India at the WTO: From Uruguay to Doha and Beyond
- An Estimated DSGE Model of the Indian Economy
- Development Patterns in China and India: Perspective with A Ces Production Function
- What More do we want to know about the Indian Economy?
Abstract and Keywords
This article examines the political economy of pending economic reforms in India, with an emphasis on domestic reforms. Some of the specific issues addressed include a discussion of governance structures, implementation of the value added tax (VAT), the introduction of delivery mechanisms for public services, civil service reform, labor laws, corporate governance, bankruptcy laws, land markets, and agriculture reform. One of the main insights of the article is that discussions of reform in India usually list an ideal set of reforms, but do not analyze how such changes may be operationalized in a politically feasible manner. Specific areas such as agriculture, land markets, labor, education, and infrastructure all have special characteristics, either in terms of numbers, positions in the income hierarchy, complexity, expertise, or diversity of interests, which make progress more difficult. Recognizing such factors and incorporating them into policy design might be a better way to proceed rather than articulating ideal end points without any pathway for reaching them. Therefore, a crucial question this article addresses has to do with understanding when and how economic reform happens.
Nirvikar Singh is Professor of Economics at University of California, Santa Cruz.
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