India in the 1980's and 1990's; A Triumph of Reforms

摘要: Bradford DeLong and Dani Rodrik have argued that reforms in India cannot be credited with higher growth because the rate crossed 5 percent mark 1980s, well before launch of July 1991 reforms. This is a wrong reading Indian experience for two reasons. First, liberalization was already under way during 1980s played crucial role stimulating decade. Second, fragile unsustainable. The more systematic systemic 1990s, discussed here detail, gave rise to sustainable growth. paper concludes by explaining why nevertheless continues trail China.