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Bhagwati and Panagariya propose ways to accelerate India’s growth while also making its redistributive policies more effective.
India’s economic reforms of the 1980s through the first decade of this century unleashed private enterprise, encouraged foreign investment, and expanded foreign trade. Kohli calls this economic strategy “pro-business” rather than “pro-market” because it coddles big firms. Bhagwati, Panagariya, and their contributors present an alternative view based on an analysis of survey and economic data. They show that poverty has fallen among even the most disadvantaged caste and tribal groups.
Agriculture will be the make-or-break issue in Hong Kong. On the surface, obstacles to an agreement seem insuperable. But a careful examination of the current agricultural trade regime reveals that prospects for an agreement are not as bleak as they appear.