Institutions and Economic Reforms

Markets , Regulatory Institutions , Competitiveness and Reforms

Recognising the importance of transitioning to a markets-based economy, with the attendant benefit of competition, as the most effective method of increasing economic competitiveness, the paper discusses the consequent limitations and problems that are likely to arise during the transition. It confines itself primarily to infrastructure sectors (most often characterised by natural monopolies an...

Permanency and Flexibility of Institutions: The Role of Decentralization in Chinese Economic Reforms

The purpose of this paper is to offer a Lachmannian analysis aimed at studying the coherence and the efficiency of reforms in China in terms of institutional change. The idea is that transition dynamics cannot be analyzed by reference to market criteria only; transition is, above all, a change in institutions. Every transition economy thus faces the problem of creating a new institutional frame...

Economic Reforms and Global Integration

India's Economic Reforms

The past three years have seen major changes in India's economic policies marking a new phase in India's development strategy. The broad thrust of the new policies is not very different from the changes being implemented in other developing countries and also all over the erstwhile socialist world. They aim at reducing the extent of Government controls over various aspects of the domestic econo...

Institutions and Economic Performance

Those who analyze political institutions often employ broad labels. They refer to democracy or authoritarianism; presidential or parliamentary governments; or to systems of plurality or proportional representation. In this paper, I refrain from addressing politics at this level and adopt an approach that is far more micro-in perspective. The approach I take can be referred to as " neo-classical...