India:_The_Emerging_Giant

<i>India: The Emerging Giant</i>

India: The Emerging Giant

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India: The Emerging Giant is a 2008 book by Arvind Panagariya which describes the contemporary state of the economy of India.

Quick Facts Author, Country ...

Synopsis by chapter

Each chapter has a main topic and a set of essays on different aspects of that main topic.

Growth and Economic Reforms

Distinguishing Four Phases

This chapter is divided into these parts:

  • Phase I (1951–65): Takeoff under a Liberal Regime
  • Phase II (1965–81): Socialism Strikes with a Vengeance
  • Phase III (1981–88): Liberalization by Stealth
  • Phase IV (1988-2006): Triumph of Liberalization
  • A Tale of two Countries:India and the Republic of Korea

Poverty, Inequality, and Economic Reforms

This chapter is divided into these parts:

  • Declining Poverty: The Human Face of Reforms
  • Inequality: A Lesser Problem

Macroeconomics

This chapter is divided into these parts:

  • Deficits and Debt: Is a Crisis around the Corner?
  • The External Sector: On the Road to Capital Account Convertibility?
  • The Financial Sector: Why Not Privatize the Banks?

Transforming India

This chapter is divided into these parts:

  • International Trade: Carrying Liberalization Forward
  • Industry and Services: Walking on Two Legs
  • Modernizing Agriculture

The Government

This chapter is divided into these parts:

  • Tax Reform: Toward a Uniform Goods and Services Tax
  • Tackling Subsidies and Reforming the Civil Service
  • Telecommunications and Electricity: Contrasting Experiences
  • Transportation: A Solvable Problem
  • Health and Water Supply and Sanitation: Can the Government Deliver?
  • Education: Expenditures or Transfers?

Reviews

Nandan Nilekani said that in this book the author has "so convincingly argued (that) open policies and rapid economic growth are the best antidotes for poverty reduction."[1]

The review in Foreign Affairs said, "This is a massive research study that will command the respect of scholars who like to pore over tables, graphs, and charts in search of patterns and connections in the data."[2]

Economist Sally Razeen said that by this book, "Arvind Panagariya has written probably the best all-around, up-to-date, and accessible book on the Indian economy."[3]

References

  1. [1]
    "Oxford University Press: India: Arvind Panagariya". oup.com. 2011. Retrieved 27 October 2011.
  2. [2]
    Pye, Lucian W. (May–June 2008). "India: The Emerging Giant". Foreign Affairs (May/June 2008). Council on Foreign Relations. Retrieved 27 October 2011.
  3. [3]
    Razeen, Sally (March 2009). "Demystifying the Hype". Finance & Development. 46 (1). International Monetary Fund.
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