Interview with Raghuram Rajan"In some ways. After all, one reason reform in India took off was that Indians saw that a large neighboring country with similar problems could grow fast. Previously, they had always dismissed the East Asian miracle as a “small country” phenomenon. What’s dangerous is that now that the world is talking about “Chindia,” Indian reformers might sit back and say, “We’ve arrived.” As the Indian Prime Minister recognizes, India still has a long way to go. Indian growth rates are approaching Chinese growth rates, but China has been growing at this rate for at least 25 years. India has only about 15 years under its belt, and a lot has to go right for it to be truly in the same league as China."
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The “I”s have ITThe software industry is eyed by many emerging market economies as a pathway to export earnings and economic growth. At a talk at the IMF in December, Carnegie-Mellon University’s Ashish Arora said that the success of software exports from the “I” countries—India, Ireland, and Israel—reflected as much good luck and trust in entrepreneurship as successful government policies or better human capital.
Assorted on India
12 years ago
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