Journal Article

The pattern and causes of economic growth in India

Kaushik Basu and Annemie Maertens

in Oxford Review of Economic Policy

Published on behalf of The Oxford Review of Economic Policy Ltd

Volume 23, issue 2, pages 143-167
Published in print June 2007 | ISSN: 0266-903X
Published online January 2007 | e-ISSN: 1460-2121 | DOI: https://dx.doi.org/10.1093/oxrep/grm012
The pattern and causes of economic growth in India

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This paper presents the broad macro parameters of the growth of the Indian economy since the nation's independence and a cross-country evaluation of where India stands, drawing out the patterns discernible in these aggregative statistics. The paper gives an overview of the on-going debate on the components of the Indian growth and the relative importance of the different policies in the 1980s and 1990s. It contributes to this debate by identifying the landmark years, and analysing the politics behind some of the economics. The paper also analyses the factors behind the changes in India's savings rate and the relation between growth and development, on the one hand, and the nature of labour market regulation, on the other.

Keywords: India; growth; labour market; savings; O10; O53

Journal Article.  12407 words.  Illustrated.

Subjects: Economic Development ; Economywide Country Studies

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