This book traces the history of India’s progress since its independence in 1947 and advances strategies for continuing economic growth. Insiders and outsiders that have criticized India for slow economic growth fail to recognize all it has achieved in the last seven decades, including handling the migration of over 8 million people from Pakistan, integrating over 600 princely states into the union, managing a multi-language population into one nation and resolving the food problem. The end result is a democratic country with a strong institutional foundation. Following the growth strategies outlined in the book and with a strong leadership, India has the potential to stand out as the third largest economy in the world in the next 25 to 30 years.
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Subhash C. Jain and Ben L. Kedia
Achieving Fiscal Sustainability
Edited by Naoyuki Yoshino and Peter J. Morgan
Sustainable and inclusive growth in emerging Asian economies requires high levels of public investment in areas such as infrastructure, education, health, and social services. The increasing complexity and regional diversity of these investment needs, together with the trend of democratization, has led to fiscal decentralization being implemented in many Asian economies. This book takes stock of some major issues regarding fiscal decentralization, including expenditure and revenue assignments, transfer programs, and sustainability of local government finances, and develops important findings and policy recommendations.
Towards a Capitalist Manifesto
This book makes the bold attempt at proposing a new general theory of economic development. The main premise is that economic institutions and policies must embody ‘economic discrimination’ if there is to be any chance of real economic development. By economic discrimination, the author means ‘treating differences differently’ by selecting and supporting economic entities and behaviour that contribute positively to the economy. The book identifies markets, government and corporations as the ‘holy trinity of economic development’, that is, the three most important institutions that must work together via economic discrimination to steer the economy towards real transformative progress. The book also warns against the current trend of economic egalitarianism or ‘not treating differences differently’ because it destroys economic incentives and results in an array of economic problems including growth stagnation.
Cores, Peripheries and Peaceful Rising
Sabrina C.Y. Luk and Peter W. Preston
Europe and China have a long intermingled history reaching back to the earliest phases of the shift to the modern world. In the twenty-first century Europe and China are rediscovering their interlinked histories and reestablishing relationships. One aspect of this process involves cutting through received images of China and this book presents a clear, concise, scholarly review of the logic of Chinese politics.
Impressive Accomplishments or Incomplete Achievements?
- ADBI series on Asian Economic Integration and Cooperation
Edited by Jacques Silber and Guanghua Wan
Following rapid economic growth in recent decades, Asia and the Pacific experienced an impressive reduction in extreme poverty, but this drop was not uniform and achievements are still incomplete. Vulnerability to natural disasters, the increasing impact of climate change and economic crises should all be taken into account. There is also a need to consider the multidimensional nature of poverty and the non-uniformity of the decrease across different ethnic groups. This book explores the Asian ‘poverty miracle’ and argues for the development and use of an Asia-specific poverty line.
The Path to Development and Macroeconomic Stability in Korea
This book elaborates upon the dynamic changes to Korean firms and the economy from the perspective of catch-up theory. The central premise of the book is that a latecomer’s sustained catch-up is not possible by simply following the path of the forerunners but by creating a new path or ‘leapfrogging’. In this sense, the idea of catch-up distinguishes itself from traditional views that focus on the role of the market or the state in development.
The Great Demographic, Spatial, Economic, and Social Transformation
Li Zhang, Richard LeGates and Min Zhao
China’s urbanization is one of the great earth-changing phenomena of recent times. The way in which China continues to urbanize will have a critical impact on the world economy, global climate change, international relations and a host of other critical issues. Understanding and responding to China’s urbanization is of paramount importance to everyone. This book represents a unique exploration of the demographic, spatial, economic and social aspects of China’s urban transformation.
A Knowledge Platform on Economic Productivity
The rise of Asia, as well as the future of regional cooperation and integration (RCI) the world over, will be profoundly influenced by the challenges of slowing productivity growth, increasing economic inequalities and systemic vulnerabilities. Such structural reform issues will require RCI policies that complement domestic policy reform. This unique book explains what drives the regional economic integration of nations and their contribution to national knowledge capital. It also lays out how such beneficial integration can generate broad-based, equitable wealth in Europe and Asia.
Globalization and the Economic Miracles in Chile and Taiwan
Cal Clark and Evelyn A. Clark
Neoliberalism, which advocates free markets without government interference, has become increasingly utilized and controversial over the last three and a half decades. This book presents case studies of Chile and Taiwan, two countries that seemingly prospered from adopting neoliberal strategies, and finds that their developmental histories challenge neoliberalism in fundamental ways.
Infrastructure for Integrating South and Southeast Asia
- ADBI series on Asian Economic Integration and Cooperation
Edited by Michael G. Plummer, Peter J. Morgan and Ganeshan Wignaraja
This book analyses how closer regional connectivity and economic integration between South Asia and Southeast Asia can benefit both regions, with a focus on the role played by infrastructure and public policies in facilitating this process. Country studies of national connectivity issues and policies cover Bangladesh, India, Myanmar, Nepal, Sri Lanka and Thailand, examining major developments in South Asia–Southeast Asia trade and investment, economic cooperation, the role of economic corridors, and regional cooperation initiatives. Thematic chapters explore investment in land and sea transport infrastructure, trade facilitation, infrastructure investment financing, supporting national and regional policies, and model-based estimates of the benefits of integration. Employing a state-of-the-art computable general equilibrium (CGE) model, the book provides a detailed an up-to-date discussion of issues, innovations and progress.