After 10 years of impressive growth, India is now the fourth largest economy in the world. Yet, to date, Indias' impact on global commodity markets has been muted. The authors examine how Indias' domestic and trade policies have distorted and constrained its demand for commodities. They find...

The paper combines Baumol's model of structural change with a model of aggregate demand growth in the Keynesian-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with - and Baumol's model for the productivity regime is calibrated on...