Economic growth and convergence of economies are generally considered to be long-run phenomenon. These long-run discussions some time disguise the actual short-run and medium-run dynamics of the distribution and produce an average result, which not only hide intricate details of the...

Developing countries face a trade-off between the twin objectives of structural transformation and inclusive growth. This is the 'developer's dilemma'. This study analyses the dilemma as it manifested itself in the Indian context, and identifies two distinct episodes over the post-independence...