India's gradualist road to economic liberalization : achievements and challenges

Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

Abstract

Since the 1991 balance of payments crisis, India has embarked on an ambitious program of economic liberalization. Over the past decade the Indian government has introduced a series of far-reaching reforms that have transformed the once closed economy. This paper examines the policy reforms and its impact on the economy. Overall, it argues that the reforms have been beneficial. However, major challenges remain. While the first-generation reforms have taken root, the authorities will have to carry out the more-difficult second-generation reforms, if India is to benefit fully from its liberalization program.
Original languageEnglish
Pages (from-to)209-238
Number of pages30
JournalDae'oe Gyeongje Yeon'gu/Journal of International Economic Studies
Volume7
Issue number2
DOIs
Publication statusPublished - 2003
Externally publishedYes

Fingerprint

India
Roads
Economic liberalization
Balance of payments crises
Liberalization
Authority
Government
Policy reform

Keywords

  • India's Economy
  • Economic Liberalization
  • Fiscal Federalism

Cite this

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title = "India's gradualist road to economic liberalization : achievements and challenges",
abstract = "Since the 1991 balance of payments crisis, India has embarked on an ambitious program of economic liberalization. Over the past decade the Indian government has introduced a series of far-reaching reforms that have transformed the once closed economy. This paper examines the policy reforms and its impact on the economy. Overall, it argues that the reforms have been beneficial. However, major challenges remain. While the first-generation reforms have taken root, the authorities will have to carry out the more-difficult second-generation reforms, if India is to benefit fully from its liberalization program.",
keywords = "India's Economy, Economic Liberalization, Fiscal Federalism",
author = "SHARMA, {Shalendra D.}",
year = "2003",
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journal = "East Asian Economic Review",
issn = "2508-1640",
publisher = "Korea Institute for International Economic Policy",
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India's gradualist road to economic liberalization : achievements and challenges. / SHARMA, Shalendra D.

In: Dae'oe Gyeongje Yeon'gu/Journal of International Economic Studies, Vol. 7, No. 2, 2003, p. 209-238.

Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

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AB - Since the 1991 balance of payments crisis, India has embarked on an ambitious program of economic liberalization. Over the past decade the Indian government has introduced a series of far-reaching reforms that have transformed the once closed economy. This paper examines the policy reforms and its impact on the economy. Overall, it argues that the reforms have been beneficial. However, major challenges remain. While the first-generation reforms have taken root, the authorities will have to carry out the more-difficult second-generation reforms, if India is to benefit fully from its liberalization program.

KW - India's Economy

KW - Economic Liberalization

KW - Fiscal Federalism

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