Jagdish Bhagwati and Arvind Panagariya

in India’s Reforms: How They Produced Inclusive Growth

Published in print May 2012 | ISBN: 9780199915187
Published online May 2012 | e-ISBN: 9780199933495 | DOI:

Series: Studies in Indian Economic Policies


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This chapter provides a concise summary of how the debate on Indian economic reforms has evolved and how the chapters in the volume advance that debate. It begins by stating that though an agreement has emerged on the centrality of reforms for growth, their impact on poverty, inequality and how people perceptions have changed remains in dispute. It describes how the studies in the volume show that openness has helped reduce poverty among almost all social groups and has had no impact on inequality. It also describes how the 2009 parliamentary election turns out to be fully consistent with the Bhagwati-Panagariya hypothesis that once people see the potential for growth acceleration, they reward politicians who deliver it and punish those who do not. The chapter also describes the finding that surveys show people increasingly saying that their fortunes have seen major improvements in recent years.

Keywords: poverty; inequality; trade openness; reforms; India; election; Scheduled Castes; tribes; NSS

Chapter.  4504 words. 

Subjects: Business and Management

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