We examine how the source of foreign aid affects the composition of the recipient government's spending. Does the source of aid -- bilateral or miltilateral -- influence ricipient policy-makers' choice between development and nondevelopment expenditure? We depart from previous literature by...

There are many explanations for apparently sudden changes in trade liberalization policy in India. This paper examines some of these explanations against the history and characteristics of trade liberalization policy in India. It proposes an additional interpretation based on the self-interested...

In this paper we assess the impact of external economic liberalization in India on the transmission of aggregate shocks. We examine the relative importance of domestic and external shocks and capture their feedback effects by estimating an eight variable vector autoregression (VAR) model. We...

This paper asks how do small firms behave and what is their role in Indian economic development. It examines aggregate descriptions of small firms in India: their role in economic development, the industry by industry variation in their relative importance and the size structure of industry....