The Indian economy witnessed four qualitatively different regimes of capitalist growth and distribution since independence. The first two regimes in the period – 1951-1980 – operated under the hegemony of the Indian state, the third one under the mixed hegemony …
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This paper is a chapter from the author’s PHD thesis written in 2005. It examines the history of financial reforms in India up to 2005 and the consequences for the distribution of income and wealth. A short appendix provides a …
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The policy reforms in India initiated in the early 1990s have brought phenomenal changes in the economy’s growth and development process. The economy during this period has experienced high growth rates on the one hand and increased inequalities on the …
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China’s growth, after the early years, has been built on industrial development in a model of unbalanced growth. This has left the rural areas trailing urban areas in development. Rural residents earn less than urban residents, have inferior physical infrastructure, …
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Most analyses explain the increase in China’s overall inequality during the reform period principally by means of the expansion of urban-rural income gap. This paper tries to shed light on a more complex relationship that appears to exist between primary …
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In a demand-side growth model we show that a developing economy may experi- ence a steady positive equilibrium growth rate of investment and profit as long as – investment in the economy is responsive to the aspirations of the richer …
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