Macroeconomic Policy and Development in India: Some Analytical Issues

Partha Sen ()
Additional contact information
Partha Sen: Centre for Development Economics, Delhi School of Economics

A chapter in Economic Policy Frameworks Revisited, 2023, pp 91-109 from Springer

Abstract: Abstract Should a developing economy, such as India, have a macroeconomic policy framework that is identical to an advanced capitalist country? The answer is a “No”, because the developing economies have external constraints, which the more developed countries do not. They also, often, need to achieve a structural transformation by moving labour away from agriculture. These economies are, in addition, faced with possibility of international capital flow reversals. I argue for keeping the real exchange depreciated to have an export-led growth, emulating the East Asian experience. In today’s world, given protectionism in the advanced capitalist countries, this strategy is more challenging. Also the capacity of the State to deliver this is open to question.

Keywords: Inflation targeting; Big push; Exchange rates; Structural transformation; E6; O1; O4 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-031-36518-8_6

Ordering information: This item can be ordered from
http://www.springer.com/9783031365188

DOI: 10.1007/978-3-031-36518-8_6

Access Statistics for this chapter

More chapters in Contributions to Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().