India's Pattern of Development: What Happened, What Follows?

Raghuram G. Rajan, Utsav Kumar, Ioannis Tokatlidis, Kalpana Kochhar and Arvind Subramanian

No 06/22, IMF Working Papers from International Monetary Fund

Abstract: India has followed an idiosyncratic pattern of development, certainly compared with other fast-growing Asian economies. While the importance of services rather than manufacturing is widely noted, within manufacturing India has emphasized skill-intensive rather than laborintensive manufacturing, and industries with higher-than-average scale. Some of these distinctive patterns existed prior to the beginning of economic reforms in the 1980s, and stem from the idiosyncratic policies adopted after India's independence. Using the growth of fastmoving Indian states as a guide, we conclude that India may not revert to the pattern followed by other countries, despite reforms that have removed some policy impediments that contributed to India's distinctive path.

New Economics Papers: this item is included in nep-cwa and nep-dev
Date: Written 2006-02-01
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Working Paper: India's Patterns of Development: What Happened, What Follows (2006)
Journal Article: India's pattern of development: What happened, what follows? (2006)
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