While openness to trade is a well-recognized hallmark of the Asian growth model, another component of the model is a leapfrogging strategy - the use of policies to guide industrial structural transformation ahead of a country's factor endowment. Does the leapfrogging strategy work? Opinions vary...

While openness to trade is a well-recognized hallmark of the Asian growth model, another component of the model is a leapfrogging strategy—the use of policies to guide industrial structural transformation ahead of a country's factor endowment. Does the leapfrogging strategy work? Opinions vary...

While openness to trade is a well-recognized hallmark of the Asian growth model, another component of the model is a leapfrogging strategy—the use of policies to guide industrial structural transformation ahead of a country's factor endowment. Does the leapfrogging strategy work? Opinions vary...

This Paper provides a comprehensive assessment of empirical evidence about the impact of financial globalization on growth and volatility in developing countries. The results suggest that it is difficult to establish a robust causal relationship between financial integration and economic growth....

A review of the overall macroeconomic performance in India since independence, the prospects for the coming five years and finally the issues that need to be addressed for sustaining the growth of the Indian economy. [Keynote Address by Dr.Rakesh Mohan, Deputy Governor, Reserve Bank of India at...

A distinguishing aspect of the growth performance is that India now has five mobile phones for every one fixed telephone and the monthly additions to mobile subscribers are well over six million. Such a huge growth in telecom services have a number of spillover effects for rest of the economy...

This study is an inter-sectoral analysis of state domestic product data to understand the determinants of the services sector growth in India during the recent years. It is a demand side analysis where the services sector output of a specific state is not only a function of the outputs of a...

This paper reviews India’s experience to understand how services sector liberalisation can generate (welfare) gains for developing countries, in particular vis-à-vis its employment generation potential. The analysis has been based on India’s experience of an increasingly open service sector...

The 11th Plan provides an opportunity to restructure policies to achieve a new vision of growth that will be much more broad based and inclusive, bringing about a faster reduction in poverty and helping bridge the divides that are currently the focus of so much attention. The first steps in this...

The study examines the impact of aggregate government expenditure and its two broader components such as revenue expenditure and capital expenditure on the growth rate of output in the Indian context along with other key potential determinants of economic growth such as trade openness and...