By R. Kumar, Murali Patibandla
This edited volume highlights the interaction among the evolving associations and the turning out to be fiscal dynamism of the Indian economy. The ebook presents a cutting-edge interdisciplinary evaluate of the Indian political financial system and cultural psychology and it attracts upon the contribution of educational students who're in detail accustomed to India.
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Extra info for Institutional Dynamics and the Evolution of the Indian Economy
5%. It bears remembering, however, that this modest growth rate was similar to the average growth of other developing nations. 23 To this should be added that the external balances have turned positive during the 1990s, and India has gradually accumulated significant—maybe excessive—foreign exchange reserves. The trade balance remains negative, however. In contrast to the situation in the early 1990s, the level of foreign exchange reserves combined with the fact that India has kept in place some capital account regulations today provide substantial protection against a crisis induced by speculative financial flows.
The pattern of stagnating exports of traditional products and rapid growth of knowledge-intensive “products” thus confirms the picture from the different growth trajectories within the manufacturing sector. Taken together, both production and export figures indicate that there are signs of a change within Indian industry, moving in a direction that broadly conforms to what was described as a new paradigm for economic activities. com). 4. One should, of course, be careful not to overstate the significance of the changes in industrial activities.
Mumbai: 2005 provides an overview. See also ch. 2. org). Last accessed September 19, 2007. Increasing oil imports from international oil markets not allocated to particular supplier countries have caused the sudden apparent decline in OPEC imports. This has distorted import figures since 1998/1999. Calculated from Reserve Bank of India, Handbook of Statistics on Indian Economy 2007 (Mumbai, 2007). in). Last accessed February 6, 2008. B. (2003) “India since Independence. ), In Search of Prosperity.
Institutional Dynamics and the Evolution of the Indian Economy by R. Kumar, Murali Patibandla