We study whether the effects on registered manufacturing output of dismantling the license raj - a system of central controls regulating entry and production activity in this sector - vary across Indian states with different labor market regulations and different nancial development. To guide...

The retail business, in India, is estimated to grow at 13 per cent per annum from US$ 322 billion in 2006-07 to US$ 590 billion in 2011-12. The unorganized retail sector is expected to grow at about 10 per cent per annum from US$ 309 billion 2006-07 to US$ 496 billion in 2011-12. Organized...

This paper uses the standard one-sector neoclassical growth model to investigate why China’s consumption has been low and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts that the price of capital may have been significantly...

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...