Indian Economic Reform: Much More Than You Wanted To Know
Slate Star Codex, 2019
It is undeniable that India has had an impressive economic growth during the last decades. While in the 1970s 60% of the population lived in extreme poverty, this number dropped to 20% in 2011. However, it is fiercely debated when exactly the growth set off and what the drivers were. Scott Alexander summarises some of the recent literature on this question, demonstrating that not only the liberalisation policies of the 90s might be the driver of the take-off, but potentially public investments, political developments or cultural shifts.
Comment from our editors:
A short, but informative overview over the literature on the causes of the Indian growth miracle. However, readers should keep in mind that Scott Alexander is not a subject expert. Nevertheless, as he includes several long citations from the literature, the reader can get a direct idea of how actual economists debate over the question of what kicked-off growth in India.
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