Have the reforms failed India?
Distinguished economists Bradford DeLong of the University of California , Berkeley and Dani Rodrik of Harvard University separately argue that reforms cannot be credited with India ’s high growth rates in recent years because the shift in the growth rate preceded the reforms of the 1990s. In a related but slightly different vein, economist Joseph Stiglitz contends that India is one of the two most impressive economies today (the other being China ) and that India also, like China , has bought the least into the globalisation story that the IMF and others are selling. Are these right claims?
The question “have the reforms failed India” at a time when optimism in the country is at its peak seems out of context if not outright silly. Yet, this is precisely the challenge reforms-skeptics have posed recently.
The question "have the reforms failed India" at a time when optimism in the country is at its peak seems out of context if not outright silly. Yet, this is precisely the challenge reforms-skeptics have posed recently.
For instance, distinguished economists Bradford DeLong of the University of California, Berkeley and Dani Rodrik of Harvard University separately argue that reforms cannot be credited with India's high growth rates in recent years because the shift in the growth rate preceded the reforms of the 1990s.
In a related but slightly different vein, economist Joseph Stiglitz contends that India is one of the two most impressive economies today (the other being China) and that India also, like China, has bought the least into the globalisation story that the IMF and others are selling.