India’s software industry presents the case of an internationally competitive high-tech industry from a developing economy. This paper takes the evolution of the industry in terms of human capital accumulation. The initial stock of human capital in India led to entry of TNCs, which triggers a...

This paper addresses the issue of how do domestic incumbent oligopoly firms, which functioned under the institutional conditions of protected markets and pervasive government intervention for a long period adjust to a relatively sudden change in market institutional conditions caused by market...

The recent developments in the new growth theory shows the theoretical link between industrial productivity and market mechanism in terms of private agents’ incentives for investing in research and development and human capital accumulation. Several developing economies, such as India, that...

We examine the most likely strategy of product differentiation by newly entering multinational firms when market reforms begin in a developing economy. We argue that incumbents in a non contestable protected market do not have the usual advantages of an incumbent as in a standard sequential...

One of the important strategic decisions of TNCs in entering emerging markets is product differentiation in relation to growth in incomes and type of competition expected from local firms. This paper develops a simple theory in the context of the Indian economy that has opened up recently to...