Browse by title

You are looking at 1 - 10 of 964 items :

  • Asia Business x
Clear All
You do not have access to this content

Subhash C. Jain and Ben L. Kedia

The critical aspects of growth in India are described. First among them is the creation of jobs, which is examined in this chapter. India must create 10 million jobs annually. For this to happen, manufacturing is the key to prosperity. It leads to economies of scale, impacts innovation and has a multiplier effect on the rest of the economy. For India to boost manufacturing, it must pursue a variety of strategic steps such as the overhaul of labor laws, simplifying land acquisition, providing tax incentives, encouraging foreign investment and other innovations.

You do not have access to this content

Subhash C. Jain and Ben L. Kedia

The chapter focuses on four aspects of economic growth: enhancing agriculture and farm productivity; building and improving basic infrastructure related to transportation, communication, energy availability, networks and bureaucratic efficiency; strengthening education at all levels, from primary schooling to higher education; and emphasizing innovations to make the most of limited resources. If these aspects are addressed adequately, India will be able to achieve its growth objective in a short time frame and join the ranks of developed countries.

You do not have access to this content

Subhash C. Jain and Ben L. Kedia

India must pay attention to four supporting factors in addition to the areas elaborated in the previous two chapters to achieve its economic aspirations. These include provision of basic services to the citizenry such as food, drinking water, sanitation, housing, energy, health care, education and social security; strengthening the rule of law; encouraging competition among states, and public-private enterprises; and promoting India’s cultural heritage. India can learn from the experiences of other nations, particularly the United States, to realize its economic endeavors. But at the end of the day, it must develop its own unique solutions to make headway on all fronts.

You do not have access to this content

Subhash C. Jain and Ben L. Kedia

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.
You do not have access to this content

Chunlai Chen

Over the last three and a half decades, China has achieved remarkable economic growth with an annual average real GDP growth rate of around 10 per cent. Chapter 2 investigates empirically how FDI has contributed to China’s regional economic growth and how the local economic and technological conditions of host provinces influence the extent to which FDI contributes to local economic growth. Through the application of a provincial-level panel dataset containing China’s 30 provinces over the period 1987–2014 and regression techniques, the study finds that FDI has contributed to China’s economic growth directly through capital augmentation and technological progress and indirectly through knowledge spillovers on the local economy. The study also finds that the contribution of FDI to economic growth is influenced by local economic and technological conditions. FDI has stronger impacts on economic growth through capital augmentation and technological progress in the more economically developed coastal provinces than in the less-developed inland provinces. While FDI has a positive and significant impact on economic growth through knowledge spillovers in the developed coastal provinces, positive knowledge spillovers of FDI on economic growth are absent in the less-developed inland provinces. This finding provides empirical evidence to suggest that local economic and technological conditions, especially local absorptive capability, do matter in influencing the diffusion of knowledge spillovers from FDI to the local economy.

This content is available to you

References

A Critical Assessment

Chunlai Chen

This content is available to you

Preface

A Critical Assessment

Chunlai Chen

This content is available to you

Subhash C. Jain and Ben L. Kedia

This content is available to you

Introduction

A Critical Assessment

Chunlai Chen

Since the implementation of the market-oriented economic reform and open policies in late 1978, China has attracted massive foreign direct investment (FDI) inflows. Chapter 1 starts with an examination of the characteristics of FDI in China. It finds that FDI in China is characterized by fast growth and a huge amount of inflows; uneven regional distribution with heavy concentration in the coastal region; overwhelming concentration in the manufacturing and services sectors; and heavy engagement in the processing trade. The chapter then raises the main issues to be explored in this study: the impacts of FDI on China’s regional economic growth, urban–rural income inequality and urbanization development. To establish a theoretical framework for the empirical analysis, the chapter presents a compelling and thorough analysis of the leading theoretical explanations of FDI. Among the many theories, Dunning’s OLI framework has been the most influential and comprehensive explanation of FDI. As a result, it is used as the fundamental theoretical framework for this study. According to Dunning’s OLI framework, because of its ownership advantage and the possession of firm-specific intangible assets, FDI is expected to produce a series of impacts on a host country’s economy through capital formation, employment creation, and more importantly through knowledge spillovers to the host country’s domestic economy. Therefore, based on the theoretical framework derived from Dunning’s OLI paradigm, the chapter discusses the main implications of the existing theory for this study. Finally, the chapter outlines the structure of the study.

This content is available to you

Subhash C. Jain and Ben L. Kedia

The introductory chapter outlines the purpose of the book. As India gained independence, it faced the problem of economic development as well as a number of social and political problems which had to be addressed right away. Overall, India in the last 70 years of its independence has done remarkably well although it failed to realize its full potential in economic growth. This book argues that with free market policies and strong leadership, India could advance economically, thus benefiting all sections of the society.