liberalization

My work contributes to current explanations of the variance in financial development across countries by considering the role of political and legal structure in determining the effect of private interests on financial policy and illustrating the political obstacles that policymakers face when reforming the financial system. In Chapter 2, I present a political economy model to study the role of politics in the process of financial development across emerging markets. The model concludes that both special interest groups and political ...

Economic reforms along with its promise of increasing income and growth rates have also raised concerns about its distributional implications. These concerns are at the heart of the arguments of those who oppose certain economic reforms. Focusing on the economic reforms implemented in India, we investigate the distributional implications of the reforms using four waves of nationally representative household survey data over the period 1983 to 2000. Chapter 1 provides an overview of the economic policies in India, including a ...

India initiated economic reforms as an aftermath of a serious foreign exchange crisis. The number and the pace of reforms have been increasing ever since. The scope of external liberalization has increased many-fold in several fields, with difficult withdrawl conditions under WTO agreements. Despite all these efforts, the Balance of Trade continues to be adverse, and so is the case with balance in the current account, if the private transfers were not supporting the same. Even then the Balance of ...