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Citation Information

Type Journal Article - Journal of Monetary Economics
Title India's pattern of development: What happened, what follows?
Author(s)
Volume 53
Issue 5
Publication (Day/Month/Year) 2006
Page numbers 981-1019
URL http://cid.bcrp.gob.pe/biblio/Papers/NBER/2006/Febrero/w12023.pdf
Abstract
India has followed an idiosyncratic pattern of development, certainly compared with other fast-growing Asian economies. While the importance of services rather than manufacturing has been widely noted, within manufacturing India has emphasized skill-intensive rather than labor-intensive manufacturing, and industries with higher-than-average scale (though average firm size within industries is unusually small). Some of these distinctive patterns existed prior to the beginning of economic reforms in the 1980s, and stem from the idiosyncratic policies adopted after India's independence. These patterns have not changed despite reforms that have removed some policy impediments that contributed to India's distinctive path. We discuss the implications for India's future growth.

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