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Contributed papers presented at two seminars organized by the Punjab School of Economics.
This study systematically evaluates the economic consequences of globalization for India in the light of the attack of the critics against globalization on grounds of economic stagnation, ?deindustrialization,? ?denationalization,? destabilization, and impoverishment. On the basis of abundant qualitative and quantitative data, it strongly repudiates the case of the critics, and demonstrates that India has been a significant beneficiary of the globalization process. Instead of economic stagnation, India has seen acceleration in its average annual rate of economic growth. Instead of deindustrialization, there has been substantial industrial growth and, indeed, acceleration in the industrial growth rate.Instead of denationalization, business in India is now more competitive and is venturingforth into the global market; increased imports and the entry of foreign multinationalshave not swamped it; essentially, India is master of its own destiny. Instead of economicdestabilization, there has been since the paradigm shift in economic policy in 1991 a marked absence of economic crisis in India. And, instead of impoverishment, India hasseen a long and unprecedented period of welfare enhancement since it began its reintegration into the world economy in 1975; there has been a secular decline in povertysince then, while inequality has not increased much. The policy conclusion that flows from this experience is that India ought to be, in general, more open to globalization in the interest of sustaining the acceleration in economic growth and enhancing the welfare of its people. To this end it should push forward with the reform agenda.This is the twenty-second publication in Policy Studies, a peer-reviewed East-West Center Washington series that presents scholarly analysis of key contemporary domestic and international political, economic, and strategic issues affecting Asia in a policy relevant manner.
The movement of people from small towns and villages of India to places outside the country raises a number of questions– about the networks that enable their mobility, the aspirations that motivate them, what they give back to their home regions, and how their provincial home worlds engage with and absorb the consequent transnational flows of money, ideas, influence and care. This book analyzes the social consequences of the transmission of migrant resources to provincial places in India. Bringing together case studies from four regions, it demonstrates that these flows are very diverse, are inflected by regional histories of mobility and development, and may reinforce local power structures or instigate social change in unexpected ways. The chapters collected in this volume examine conflicts over migrant-funded education or rural development projects, how migrants from Dalit, Muslim and other marginalized groups use their new wealth to promote social progress or equality in their home regions, and why migrants invest in property in provincial India or return regularly to their ancestral homes to revitalize ritual traditions. These studies also demonstrate that diaspora philanthropy is routed largely through social networks based on caste, community or kinship ties, thereby extending them spatially, and illustrate how migrant efforts to ‘develop’ their home regions may become entangled in local politics or influence state policies. This collection of eight original ethnographic field studies develops new theoretical insights into the diverse outcomes of international migration and the influences of regional diasporas within India. These collected studies illustrate the various ways in which migrants remain socially, economical and politically influential in their home regions. The book develops a fresh perspective on the connections between transnational migration and processes of development, revealing how provincial India has become deeply globalized. It will be of interest to academics and students in the fields of anthropology, geography, transnational and diaspora studies, and South Asian studies.
"This book investigates the impact of diverse cultures on the development and actualization of global economic entities, exploring advanced methods and best practices for the effective utilization and management of financial organizations within a globalized political context"--Provided by publisher.
This book is a collection of incisive articles on the interactions between Indian Popular Cinema and the political and cultural ideologies of a new post-Global India.
This book assesses the effects of globalization and neoliberal economic regimes in low- and middle-income countries, primarily on industries, investment and trade; finance and credit; and employment, gender and development. The volume – written to honour the rich academic work of the eminent economist Professor C. P. Chandrasekhar – addresses issues which are relevant to emerging economies and their concerns around development, investment, financial planning and adopting new technologies. It analyses the new financial systems and institutions and the dominance of global finance in policymaking in these countries and their effects in the postpandemic period. It examines the changing contours of finance, trade and labour models and laws in developing countries to assess the risks and concerns of economic crises and challenges. The volume does justice to an assessment of the macroeconomic and developmental implications of neoliberal policies in India while offering an insightful overview of the new economic practices and policies. It also offers suggestions and measures to address concerns regarding banking and global liquidity, reinforce robust strategies for growth in both small and large industries and bring in reform. This book will be of interest to scholars and students of economics, political economy, finance and trade, development studies and South Asian studies.
Contributed articles presented at a seminar.
Foreword by Prof. Kaushik Basu This book traces the development experience of one of India’s most dynamic and prosperous states, Punjab, which has provided the country with a much-needed degree of food security. The relative regression of Punjab’s economy in the post-economic reforms period and slow current economic growth give cause for concern. The contributions in this book address the question of why the structural transformation of Punjab’s economy has fallen into the middle-income trap. Each investigates the policy constraints influencing the relative stagnation of the economy and suggests appropriate measures for alleviating them. By integrating theoretical constructs and new evidence, the authoritative contributions diagnose the nature of the current problems and offer practical solutions. They cover important issues such as the crisis of agrarian transition, agrarian markets and distributive justice, employment growth and transition to non-agriculture sectors, fiscal policy, external factors in economic transformation, and perspectives on rejuvenating the state’s economy.
Globalization - the growing integration of economies and societies around the world, is a complex process. The focus of this research is the impact of economic integration on developing countries and especially the poor people living in these countries. Whether economic integration supports poverty reduction and how it can do so more effectively are key questions asked. The research yields 3 main findings with bearings on current policy debates about globalization. Firstly, poor countries with some 3 billion people have broken into the global market for manufactures and services, and this successful integration has generally supported poverty reduction. Secondly, inclusion both across countries and within them is important as a number of countries (pop. 2 billion) are failing as states, trading less and less, and becoming marginal to the world economy. Thirdly, standardization or homogenization is a concern - will economic integration lead to cultural or institutional homogenization?
The Karakoram Highway was constructed by the Pakistani state in the 1970s as a major development project that furthered the national interest and solidified state control over the disputed region of northern Pakistan. Focusing on this highway, this book provides a unique analysis of the links between space, travel and history in the formation of the Pakistani nation-state. The book discusses how the highway was a symbol for an imagined national identity, and goes on to look at how it offered Pakistan a pre-Partition history and a fixed territory, by providing a historical link to the Silk Route and a contemporary geographical linkage to Central Asia. Examining the influence of the diverse travellers along the Karakoram Highway, the book shows how global flows of development, trade, labour, and tourism have remapped the Pakistani nation-state and reshaped the local. Providing a fresh perspective on the nation-state of Pakistan, this book is an important contribution to studies on South Asian History, Anthropology, Politics and Geography.