Pinelopi Goldberg, Amit Khandelwal, Nina Pavcnik, 01 December 2008

One quarter of India’s manufacturing output growth during the 1990s stemmed from products that were not manufactured prior to the reforms. This column shows that this expansion of new products was driven in large part by access of Indian firms to previously unavailable imported inputs. Access to new imported intermediates therefore played an important role in the overall growth of the Indian economy.

Arvind Subramanian, 28 November 2008

It is undeniable that India's foreign exchange reserves have helped in limiting the impact of the crisis. This column suggests that, if the Indian government wants to cushion against all potential capital outflows of a future crisis, reserves of $1 trillion would not seem excessive.

Arvind Subramanian, 14 November 2008

The financial crisis affords India an opportunity to punch above its current economic weight. This column urges India to support globally coordinated actions to help limit the economic downturn. Most importantly, India should call for a strong political commitment by all countries to keep markets open and refrain from taking protectionist action.

Arvind Subramanian, 10 November 2008

The Indian variant of the credit crunch is different. This column outlines potential means of expanding India’s credit supply. Simply cutting interest rates will not suffice.

Arvind Subramanian, 01 November 2008

Financially integrated India has been hit by the financial contagion. This column explains what Indian policymakers need to do in order to restore confidence in the financial system and avoid the risks of easing monetary policies. The time has come for the Reserve Bank of India to use its foreign exchange reserves to inject liquidity into the financial system.

Arvind Subramanian, 04 October 2008

The present financial turmoil has spurred many central banks to relax monetary policy. Should the Reserve Bank of India follow suit? This column says no, arguing that India should not risk the dangers of igniting inflation, though the central bank should be prepared to provide liquidity if the need arises.

Pedro de Araujo, 13 September 2008

India has the most HIV infections in the world, with prevalence as high as 1.13% in some states. This column explains why preventive policies should focus on increasing condom distribution and awareness among the poor and uneducated.

Arvind Subramanian, 29 August 2008

Growth begets further growth, which is good news for both China and India. But this column argues that it is easier to create or improve a market than to build state capacity, which means that China, with its lagging private sector, is likely to fare better than India, which has deteriorating institutions.

Arvind Subramanian, 06 August 2008

Manmohan Singh has political capital and needs a legacy. This column suggests that the prime minister focus his energies on reforming higher education – a badly lagging sector that needs deregulation, liberalisation, and globalisation.

Stefan Tangermann, 22 July 2008

New research shows that India, China, and speculators are not the culprits in the food price explosion. Biofuels were a significant element in the 2005-2007 food price surge as they accounted for 60% of the growth in global consumption of cereals and vegetable oils. There cannot be any doubt that biofuels were a significant element in the rise of food prices. Since new research also shows that biofuel support policies are disappointingly ineffective on environmental grounds, governments should reconsider them.

Eric Edmonds, Nina Pavcnik, 28 May 2008

India’s trade liberalisation in the 1990s produced large gains, but it imposed significant costs of adjustment on communities with industries that lost tariff protection. A new study shows that those communities’ educational attainment lags behind the rest of India due to the intersection of trade adjustment, poverty, and schooling costs.

Stephen Broadberry, Bishnupriya Gupta, 09 May 2008

India stands out from other emerging economies because its growth has been led by the service sector rather than labour-intensive manufactures. This column summarises recent research showing that India has a long history of strength in services, and its service-led development may play to historical strengths rather than hindering its progress.

Arvind Panagariya, 15 January 2008

Historically, successful development has involved exporting labour-intensive manufactures. Despite opening up to the world economy in many respects, India’s policies continue to retard the expansion of labour-intensive sectors. Here is a discussion of how India could speed its transition to a modern economy.

Dean Karlan, Sendhil Mullainathan, 07 December 2007

A group of young(ish) scholars are revolutionising development economics using new data sets, randomised trials and the best available economic theory to find out exactly what works and why. Here is an example of some motivating questions about microfinance product design.

Jim Rollo, Michael Gasiorek, Peter Holmes, 30 November 2007

EU-India trade talks began well in June 2007. India’s rapidly expanding role in the world economy as a buyer and seller make this an important free trade agreement for the EU, as recent research shows, but prospects for success are uncertain.

Daniel Lederman, Marcelo Olarreaga, Guillermo Perry, 08 August 2007

Chinese and Indian growth has generally helped by pushing up prices of commodities where Latin America has a comparative advantage and by encouraging positive trade and FDI spillovers. Some industries and firms in some countries, however, have been hurt.

David Audretsch, Werner Bönte, Jagannadha Tamvada, 09 July 2007

By examining whether religion has any impact on decision-making that promotes economic growth, i.e. the decision to become an entrepreneur, the authors of DP6378 aim to shed light on two questions: (1) What are the channels by which religion influences economics and (2) Are the impacts on economic activity the same across all religions?

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