India's globalization : evaluating the economic consequences

dc.contributor.author Nayar, Baldev Raj en_US
dc.date.accessioned 2008-11-19T18:47:41Z
dc.date.available 2008-11-19T18:47:41Z
dc.date.issued 2006 en_US
dc.description For more about the East-West Center, see <a href="http://www.eastwestcenter.org/">http://www.eastwestcenter.org/</a> en_US
dc.description.abstract This study systematically evaluates the economic consequences of globalization for India in the light of the attack of the critics against globalization on grounds of economic stagnation, "deindustrialization," "denationalization," destabilization, and impoverishment. On the basis of abundant qualitative and quantitative data, it strongly repudiates the case of the critics, and demonstrates that India has been a significant beneficiary of the globalization process. Instead of economic stagnation, India has seen acceleration in its average annual rate of economic growth. Instead of deindustrialization, there has been substantial industrial growth and, indeed, acceleration in the industrial growth rate. Instead of denationalization, business in India is now more competitive and is venturing forth into the global market; increased imports and the entry of foreign multinationals have not swamped it; essentially, India is master of its own destiny. Instead of economic destabilization, there has been since the paradigm shift in economic policy in 1991 a marked absence of economic crisis in India. And, instead of impoverishment, India has seen a long and unprecedented period of welfare enhancement since it began its reintegration into the world economy in 1975; there has been a secular decline in poverty since then, while inequality has not increased much. The policy conclusion that flows from this experience is that India ought to be, in general, more open to globalization in the interest of sustaining the acceleration in economic growth and enhancing the welfare of its people. To this end it should push forward with the reform agenda. en_US
dc.format.extent iv, 100 pages en_US
dc.identifier.uri http://hdl.handle.net/10125/3523
dc.language.iso en-US en_US
dc.publisher Washington, D.C.: East-West Center Washington en_US
dc.relation.ispartofseries East-West Center (Washington, D.C.). Policy studies ; 22 en_US
dc.subject.lcsh Globalization - Economic aspects - India en_US
dc.subject.lcsh Globalization - Social aspects - India en_US
dc.subject.lcsh India - Economic conditions - 1980- en_US
dc.subject.lcsh India - Economic policy - 1980- en_US
dc.title India's globalization : evaluating the economic consequences en_US
dc.type.dcmi Text en_US
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