Policies, Institutions and Industrial Development
John Degnbol-Martinussen
Sage
260 pages/Rs 475
The central premise of this book is that different industrial policies and institutional arrangements will impact differently upon the patterns of industrial growth and transformation. This may sound rudimentary, coming as it does from an economics professor. But as you read further, the subtle distinction he makes later in the book becomes obvious.
More From This Section
Institutions do affect policy choices and policy implementation, but do not determine them. That is the crucial difference the author wants to highlight in this book. What makes this difference is the strategic capacity of the state to frame economic policies and implement them with the help of a feasible incentive structure. And the example with which he has illustrated this point is the Indian economy.
India must have been a relatively easy example. Economic policy making here in the last 50 years can be divided into two clearly definable segments. The first segment