Printer Friendly Printed from http://www.researchandmarkets.com/reports/614559 India: The Emerging Giant Description: India is not only the worlds largest and fiercely independent democracy, but also an emerging economic giant. But to date there has been no comprehensive account of Indias remarkable growth or the role policy has played in fuelling this expansion. India: The Emerging Giant fills this gap, shedding light on one of the most successful experiments in economic development in modern history. Why did the early promise of the Indian economy not materialize and what led to its eventual turnaround? What policy initiatives have been undertaken in the last twenty years and how do they relate to the upward shift in the growth rate? What must be done to push the growth rate to double-digit levels? To answer these crucial questions, Arvind Panagariya offers a brilliant analysis of Indias economy over the last fifty years--from the promising start in the 1950s, to the near debacle of the 1970s (when India came to be regarded as a "basket case"), to the phenomenal about face of the last two decades. The author illuminates the ways that government policies have promoted economic growth (or, in the case of Indira Gandhis policies, economic stagnation), and offers insightful discussions of such key topics as poverty and inequality, tax reform, telecommunications (perhaps the single most important success story), agriculture and transportation, and the governments role in health, education, and sanitation. The dramatic change in the fortunes of 1.1 billion people has, not surprisingly, generated tremendous interest in the economy of India. Arvind Panagariya offers the first major account of how this has come about and what more India must do to sustain its rapid growth and alleviate poverty. It will be must reading for everyone interested in modern India, foreign affairs, or the world economy. Contents: Preface PART I: Growth and Economic Reforms 1. Distinguishing Four Phases 2. Phase I (195165): Takeoff Under a Liberal Regime 3. Phase II (196581): Socialism Strikes with Vengeance 4. Phase III (198188): Liberalization by Stealth 5. Phase IV (19882006): Triumph of Liberalization 6. A Tale of Two Countries: India and the Republic of Korea PART II: Poverty, Inequality, and Economic Reforms 7. Declining Poverty: The Human Face of Reforms 8. Inequality: A Lesser Problem PART III: Macroeconomics 9. Deficits and Debt: Is a Crisis around the Corner? 10. The External Sector: On the Road to Capital Account Convertibility 11. The Financial Sector: Why Not Privatize the Banks? PART IV: Transforming India 12. International Trade: Carrying Liberalization Forward 13. Industry and Services: Walking on Two Legs 14. Modernizing Agriculture PART V: The Government 15. Tax Reform: Toward a Uniform Goods and Services Tax 16. Tackling Subsidies and Reforming the Civil Service 17. Telecommunications and Electricity: Contrasting Experiences 18. Transportation: A Solvable Problem 19. Health and Water Supply and Sanitation: Can the Government Deliver? 20. Education: Expenditures or Transfers? Appendix 1: Industrial Policy 1990 Appendix 2: Deriving the Savings-Investment Identity Notes References Index Reviews "Mr. Panagariyas book is the capstone of a career, a sustained work of scholarship. It demands a lot of its readers, and amply repays the investment. The authors father told him: "Take your time, but write a definite book on India." The son did not disappoint." --The Economist (second review) "An important book"--The Economist "It isnt easy to write about the Indian economy if you are a non-resident.... In an earlier generation of economists, Jagdish Bhagwati and T. N. Srivivasan managed this knowledge disadvantage extremely well; an in a subsequent generation, Arvind Panagariya.... This is a book that will be treasured and quoted, like Bhagwati and Desais in an earlier era. However, is this volume for an economist or a non-economist? The answer is, both. ...a book that needed to be written, by someone with sufficient knowledge and perseverance.... I cannot think of a single volume that is even remotely a substitute for this one." --The Indian Express "If there is one book which has been published in recent times that discusses the Indian economy in all its aspects with such clear-mindedness, surely it is Panagarias India: The Emerging Giant.... What makes this work so absorbing can be attributed to three factors: one, it is objective, two, it is reader-friendly, in the sense [that] it is largely free of technical jargon and is easily understood by the layman, and three, it is well-researched.... What is encouraging about this work is that it is highly optimistic about Indias economic future" --M. V. Kamath, The Free Press "A seminal [work] and a must for all serious students of Indias economic history and the rapid changes that the country is going through.... An extremely useful reference book for any person who needs to be aware of the political economy of India" --Financial Express "Compulsory reading for those interested in Indias transformation." --Hindustan Times "Arvind Panagariya has produced a truly monumental, wide-ranging and penetrating work on the Indian economy. A tour de horizon and a tour de force--it will establish him as the most insightful economist writing on India today." --Jagdish Bhagwati, University Professor, Economics and Law, Columbia University "This is now the definitive book on the Indian economy. With exhaustive research, careful analysis, and good judgment, Arvind Panagariya has detailed the vast and varied story of Indias reforms. It puts to rest certain myths and settles debates with balance and fairness. The starting point for serious analysis of the subject." --Fareed Zakaria, Editor, Newsweek International "Indias astonishing economic surge is one of the most momentous events of our time. Arvind Panagariya has given us what we have lacked up to now: a detailed, comprehensive and superbly clear survey of this breakthrough, how it came about, and where it might lead. Instantly indispensable for students of development, the book deserves a much wider readership than that. It will fascinate anybody interested in the new global economy." --Clive Crook, Chief Washington Commentator and Associate Editor, Financial Times and Senior Editor, The Atlantic Monthly "India: The Emerging Giant provides a comprehensive and panoramic exposition of the twist and turns in Indias economic policy over the last several decades. As Arvind Panagariya has so convincingly argued, open policies and rapid economic growth is the best antidote for poverty reduction. This scholarly yet readable book is the best riposte to those who have any doubts of the validity of Indian reforms." --Nandan Nilekani, Co-Chairman, Infosys Technologies Limited "Panagariya not only is a distinguished professor of economics at Columbia University, but he has also been a chief economist at the Asian Development Bank and served at the World Bank and the International Monetary Fund.... He is able to tell the story of Indias economic growth by highlighting different phases of its economic policy...a massive research study that will command the respect of scholars" --Foreign Affairs Ordering: Order Online - visit http://www.researchandmarkets.com/reports/614559 Order by Fax - using the order form below Order By Post - print the order form below and send to Research and Markets, Guinness Centre, Taylors Lane, Dublin 8, Ireland. Page 1 of 2 Printed 30/08/2008 15:07:47 Fax Order Form To place an order via fax simply print this form, fill in the information below and fax the completed form to the number at the bottom of this page. If you have any questions please email help@researchandmarkets.com Order information Please verify that the product information is correct and select the format you require. 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