The paper argues that the possibility of demand-led and supply-led growth models to ensure economic growth is limited and states the feasibility of shifting toward an efficiency-based development model. In particular, monetary policy should aim at increasing efficiency in the real sector. For...

After 10 years of impressive growth, India is now the fourth largest economy in the world. Yet, to date, Indias' impact on global commodity markets has been muted. The authors examine how Indias' domestic and trade policies have distorted and constrained its demand for commodities. They find...