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date: 06 December 2019

Abstract and Keywords

This chapter provides an analysis of India’s foreign economic policy as a rising power. It argues that market opening—particularly trade liberalization—has fueled India’s economic growth and also contributed to its increasing influence abroad. But contrary to the conventional wisdom, these developments have not resulted in greater regime conformity from a rising India. This is indicated most clearly by its consistent reluctance to provide global public goods across different international economic institutions. The chapter traces the roots of this reluctance. It also highlights an important variation in India’s foreign economic policy behavior: India has proven more willing to accept the costs of providing certain club goods to other developing countries. Finally, the chapter discusses some of the policy implications of this analysis.

Keywords: India, economic growth, International Monetary Fund, World Trade Organization, developing countries, global public goods, club goods

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