The new growth literature, using both endogenous growth and neoclassical models, has generated strong claims for the effect of national policies on economic growth. Empirical work on policies and growth has tended to confirm these claims. This paper casts doubt on this claim for strong effects...

Preface -- List of acronyms -- Geography and the colonial legacy -- Export led growth and the origins of protectionism -- Import substitution industrialization (ISI) -- Debt crises and the lost decade -- Poverty : origins and persistence -- The political economy of Latin American development --...

Adoption of NEP in 1990-91 was designed primarily to replace slowly growing closed Indian economy by rapidly growing open economy. The study determines the degree of openness of Indian economy and the profile of time path traversed towards this goal under NEP. The opening up of the closed...