This paper explores the causes of India''s productivity surge around 1980, more than a decade before serious economic … of existing businesses rather than new entrants or consumers. A relatively small shift elicited a large productivity … response, because India was far away from its income-possibility frontier. Registered manufacturing, which had been built up in …

macroeconomic outcomes in India. We estimate a DSGE model with an informal sector, and rigidities in the formal labor and product … markets. Along with increasing GDP and employment, deregulation also leads to lower informality and greater product market …

and have a lower average product of capital than non-SOEs. These productivity differences increased between 2002 and 2009 … potential productivity gains from reforms which could equalize the marginal products of listed SOEs and listed non-SOEs …

risks that amplify fiscal and macroeconomic vulnerabilities and undermine market competition, productivity, and private …