The Triumph of India’s Market Reforms: The Record of the 1980s and 1990s de Arvind Panagariya
India is popularly viewed as having initiated the process of liberal reforms and the embrace of outward-oriented trade policies starting with the adoption of a major reforms package in July 1991. Subsequently, from 1992 to 2002, India’s gross domestic product grew at the impressive annual rate of 6.1 percent. That rate contrasted with the so-called Hindu rate of growth of approximately 3.5 percent during the first three decades of India’s economic development. There was also a substantial reduction in poverty during the 1990s. As such, observers have generally seen the Indian experience during the 1990s and beyond as strong evidence that outward-oriented trade polices and pro-market reforms generated large benefits for the people of that country.
India is popularly viewed as having initiated the process of liberal reforms and the embrace of outward-oriented trade policies starting with the adoption of a major reforms package in July 1991. Subsequently, from 1992 to 2002, India’s gross domestic product grew at the impressive annual rate of 6.1 percent. That rate contrasted with the so-called Hindu rate of growth of approximately 3.5 percent during the first three decades of India’s economic development. There was also a substantial reduction in poverty during the 1990s. As such, observers have generally seen the Indian experience during the 1990s and beyond as strong evidence that outward-oriented trade polices and pro-market reforms generated large benefits for the people of that country.
No comments:
Post a Comment