Crony Capitalism and India: Before and After Liberalization

Surajit Mazumdar (surajit.mazumdar@gmail.com)

MPRA Paper from University Library of Munich, Germany

Abstract: This paper, the second in the series, initiates the examination of the nature of the relationship between private capital and the State in India. While the principal focus is on the present context of India under a liberal economic policy regime, both the past of Indian capitalism and the past discussion on the concentration of economic power are also brought into the picture to substantiate the key arguments. The paper provides theoretical and also some limited empirical substantiation for the proposition that unlike what would be the prediction of crony capitalism theory, liberalization, rather than reducing the degree of subordination of public authority to private capital, has only facilitated an enhanced degree of state capture

Keywords: India; Crony Capitalism; Liberalization; Concentration (search for similar items in EconPapers)
JEL-codes: O16 O2 P16 (search for similar items in EconPapers)
Date: 2008-03
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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