Sustaining growth: Interests versus institutions

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dc.contributor.author Goyal, Ashima
dc.date.accessioned 2015-08-05T07:34:32Z
dc.date.available 2015-08-05T07:34:32Z
dc.date.issued 2013-01
dc.identifier.uri http://hdl.handle.net/2275/275
dc.description.abstract Nations that were able to sustain high catch-up growth followed flexible and contextual policies. Inclusive institutions make correct policy choices more likely. India started out with highly inclusive political institutions since it adopted democracy with universal suffrage at independence. But extractive economic institutions, inherited from the British, were made more so by economic controls. In addition, a heterogeneous electorate allowed politicians to cultivate vote-banks and populist schemes instead of delivering better public services and governance. India's opening out was adequately nuanced and flexible but was sometimes used as a substitute for harder domestic reforms. It, however, added to the growing constituencies that benefit from growth, and are pushing for more inclusive economic institutions, that enable productivity, not just redistribution. Broader interest groups create better institutions and incentives. Examples from general governance, the regulation of industry, and agricultural marketing show the process, although messy and prolonged, is in the right direction en_US
dc.language.iso en en_US
dc.relation.ispartofseries WP;WP-2013-001
dc.subject catch-up growth en_US
dc.subject institutions: political and economic en_US
dc.subject democracy en_US
dc.subject vote-banks en_US
dc.subject governance en_US
dc.subject active inclusion en_US
dc.title Sustaining growth: Interests versus institutions en_US
dc.type Working Paper en_US

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