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Macroeconomic Reforms, Growth, and Stability

B.B. Bhattacharya (Author) Sabyasachi Kar (Author)
Synopsis In recent years, the Indian economy has achieved a high growth trajectory becoming one of the largest economies in the world. Interestingly, India still has large reserves of untapped human resources to grow even faster in a sustained manner. Is the economy on track to achieve such growth rates in the future? The volume explores this issue using a detailed macromodel of the Indian economy (the DPC-IEG model) that has proved effective in explaining India's economic performance over the last few years. The models for each sector are specified keeping in view both theoretical and empirical economic considerations of the Indian economy in the pre-and post-reform periods. The macromodel is then used to evaluate the impact of structural reforms on investment, growth, inflation, fiscal deficit, and balance of payments. It is found that the steady growth of the nineties has given way to a higher growth path in recent years. Alongside, the economy has also developed a resilience to both internal and external shocks. However, acceleration of long run growth rates would require a substantial improvement in both productivity of capital and rate of investment. The analysis in this book will benefit students of economics and applied econometrics, researchers, policy makers, economists, and others interested in the Indian economy.
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About the author

B.B. Bhattacharya

Dr. B.B. Bhattacharya is currently a professor of economics at the Institute of Economic Growth, Delhi. He was formerly a visiting scholar in the University of California, Berkeley. Dr. Bhattacharya is one of the leading economists of the country with specialistion in macro-economics, public finance, monetary economics and development economics. He is the author of a number of scholarly books and technical papers in leading journals in India and abroad. He has served as technical expert in numerous committees and commissions of the Government of India, Planning Commission, Finance Commission, Economic Administration and Reforms Commission, Central Statistical Organisation and Reserve Bank of India.

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Bibliographic information

Title Macroeconomic Reforms, Growth, and Stability
Format Hardcover
Date published: 09.02.2007
Edition 1st ed.
Language: English
isbn 0195684192
length xviii+264p., Tables; Figures.