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The paper reviews India’s macroeconomic performance and policies since 2000. The first section briefly summarizes key macroeconomic developments regarding economic growth, inflation, external balance, the fiscal situation and aggregate savings and investment. The second section considers some...
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We show that privatization can be beneficial even if the government is rational and benevolent, and if the firm …, privatization is strictly preferable if the firm's future survival does not crucially depend on the success of managerial effort. …
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Most privatization programs begin with a period of partial privatization in which only non-controlling shares of firms … partial privatization has little impact on firm behavior. This perspective ignores the role that the stock market can play in … population of Indian state-owned enterprises we find that partial privatization has a positive and highly significant impact on …
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We study the effects of innovations on income distribution in capitalist economies characterised by a drive to accumulate. Consistent with the basic intuitions of Marx's theory of technical change, we show that there is no obvious relation between ex-ante profitable innovations and the income...
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