The Market that Failed - A Decade of Neoliberal Economic Reforms in India

The Market that Failed - A Decade of Neoliberal Economic Reforms in India

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Author: C P Chandrasekhar
Publisher: LeftWord
Year: 2002
Language: English
Pages: 192
ISBN/UPC (if available): 8187496207

Description

This book surveys the actual experience of the last decade to argue that the strategy of a neoliberal reform programme in mid-1991 has not just failed to deliver sustained growth, but has had damaging consequences from the point of view of employment, poverty alleviation and equity.

The explicit adoption of a neoliberal reform programme in mid-1991 by the Indian government was the start of a period of intensive economic liberalization and changed attitudes towards government intervention in the economy. This book surveys the actual experience of the last decade to argue that his strategy has not just failed to deliver sustained growth, but has had damaging consequences from the point of view of employment, poverty alleviation and equity. It covers a wide range of areas, including fiscal and monetary policy, privatization and the experience with foreign direct investment, and analyses the political economy of the reform process.

Contents

List of Tables and Charts
Preface

The Background to Neoliberal Reform
The Recovery of the 1980s
The Contours of Neoliberal Reform
The Political Economy of Reform
Post-Reform Growth Performance
Sectoral Growth Patterns in the 1990s
Fiscal Policy under the Reform
The Disinvestment Experience
Financial Liberalization and Monetary Policy
The External Sector
FDI and the Balance of Payments
Trends in Employment
Poverty and Food Security
Redefining Reform: Economic Strategies for the Next Decade

References
Index