Punjab and Kerala: Regional Development in India

Lakshmi Iyer

Chapter 10 in Institutions, Institutional Change and Economic Performance in Emerging Markets, 2016, pp 223-266 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Between 2000 and 2004, India's economy grew by 6.4 percent, and the fraction of the population living below the poverty line declined from 36 percent in 1993 to an estimated 22 percent in 2004–2005. This growth was facilitated by the economic reforms implemented after the government faced a balance of payments crisis in 1991. These reforms included reductions in tariffs, substantial reductions in regulations and license restrictions on business and inviting foreign direct investment (FDI) into most sectors of the economy. India developed a vibrant services sector, with the share of services in overall GDP growing from 42 percent in 1991 to 53 percent in 2004. The country became internationally known for the quality of its information technology (IT) firms and engineers. Analysts expected IT and other business process outsourcing (BPO) firms to employ 1.2 million people and contribute nearly 5 percent of GDP in 2006–2007…

Keywords: Emerging Markets; Economic Institutions; Property Rights; Economic Policy; Political Institutions; Political Economy; Economic Growth; Case Studies (search for similar items in EconPapers)
Date: 2016
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