Growth and Resilience in an Uncertain Global Economy
Edited by Hal Hill and Maria Socorro Gochoco-Bautista
Chapter 10: India
Achieving a high rate of growth of gross domestic product (GDP) and sustaining it over a prolonged period has been the chief aim of successive Indian governments over the last two decades. Maintaining moderate to low inflation has also been addressed by the government, but with much less frequency and vigor. In India, recent periods of high growth have been coupled with high inflation. The government has been quick to take credit for high growth rates, but is reluctant to accept blame for high inflation – citing supply shocks, which it says are outside its control. But high inflation is sure to have a moderating influence on growth in the near future, leading to concerns about the economy’s ability to sustain high GDP growth rates. Economists know that a rather complicated relationship exists between trade, investment, and growth and that the specifics of this relationship are likely to be unique for each country. This has made it difficult to arrive at universal agreement on policy choices for realizing sustainable growth.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.