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- W156665192 abstract "List of AcronymsADB Asian Development BankBPO business process outsourcingCAC capital account convertibilityCE consumer expenditureCED combined fiscal deficitEOU export oriented unitEUS Employment-Unemployment SurveyFD fiscal deficitFDI foreign direct investmentFU foreign institutional investorGol Government of IndiaGDP gross domestic productIMF International Monetary FundISI import substitution industrializationIT information technologyMA indeed, some of its constituent states have larger populations than most developing countries. The study brings to bear abundant quantitative and qualitative data on the analysis.The study first examines the nature and extent of India's integration into the world economy along three dimensions-flows of goods and services, capital flows, and migration of people. While India has made substantial strides, it still represents a case of limited integration compared with such dynamic economies as China, Korea, and Mexico. However, even this limited integration has had enormous consequences for India.The study delineates three broad periods in India's recent economic history: (1) the period prior to liberalization (1956-57 through 1974-75), characterized as one of autarky and command and control economy; (2) the period of intermittent incremental liberalization (1975-76 through 1990-91); and (3) the period after the paradigm shift to an outward-oriented economic policy in 1991.The study finds that, whatever the consequences of globalization elsewhere in the developing world, the case of the critics has little merit when examined in relation to the Indian experience. The Indian case does not bear out the predictions of the critics.1. Instead of economic stagnation, India has seen acceleration in its average annual rate of economic growth, from 3.4 percent in the pre-globalization period to about 6 percent. That figure may soon reach 7 percent.2. Instead of deindustrialization, there has been industrial growth and, indeed, acceleration in the industrial growth rate. …" @default.
- W156665192 created "2016-06-24" @default.
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- W156665192 date "2006-01-01" @default.
- W156665192 modified "2023-09-26" @default.
- W156665192 title "India's Globalization: Evaluating the Economic Consequences" @default.
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