This paper first seeks to establish that no breakthrough in industrialization has coincided with the transition to a liberalized and open economic policy regime since 1991, and then examines the reasons behind this failure of India to break her industrialization impasse. It asserts that the real...

This paper provides an integrated analysis of the role of the service sector in recent Indian economic development. It discusses the nature of services, their distinction from products, and their categorization. It provides an overview of India’s overall growth experience, and a detailed...

This paper provides an integrated analysis of the role of the service sector in recent Indian economic development. It discusses the nature of services, their distinction from products, and their categorization. It provides an overview of India’s overall growth experience, and a detailed...

Kazakhstan has managed to benefit from its considerable endowments of natural resources during the commodity price boom in the 2000s. However, the global crisis of 2008-09 has demonstrated that relying on a single sector prone to high price volatility cannot be a viable strategy for development....

In many parts of the world, industrialisation has been an outcome of their capitalist development, with profit seeking capitalists serving as its agents. Differences in the characters of this class of agents, shaped by their origins and their mutual interaction with actual industrialisation...

The Covid-19 pandemic and the response to it is the third successive shock (after demonetization and Introduction of the Goods and Service Tax) being experienced by an Indian economy within a period of 4 years. Even before this shock, there were clear signs of Indian growth slowing down...

India’s story of the last two decades since the country made a transition to a liberal economic policy regime has many sides to it that may be considered somewhat remarkable in the light of her historical legacy. India has in this period certainly been an important part of the story of the...

This articple presents a historical macroeconomic perspective to present a brief analysis on why the Philippines is performing the way it does today.

This paper employs a historical approach to address whether a country can avoid the middle-income trap. The development of the manufacturing sector and technological capacities are important for a country to avoid the middle-income trap. South Korea avoided the middle-income trap through...

The Chinese economy does still not qualify as demand-driven economy. Its growth is based on investment. In fact successive waves of investment have emerged during the eighties and produced a piling-up of productive systems. A wave of small national enterprises and entrepreneurs, a second large...