Other books

When the economy's growing at over 8 per cent for four years in a row, you can expect a whole host of India books. This IMF publication also discusses the usual constraints posed by poor infrastructure, high fiscal deficits and poor business environment (the number of days to open and close businesses here in comparison with China, etc). But what makes this book worth reading are the rigorous econometric modeling on various aspects of the economy. So, we know, for instance, that the employment elasticity of GDP is low in the country, but interestingly, when this is disaggregated by states, you find that the low growth states have the low elasticities. Similarly, it is the high-growth states that have a higher elasticity when it comes to poverty reduction. The problem is not that growth is not delivering, but that growth is not taking places in some of the more populous states. Some suggestions on how to increase this as well as the impact of various policies are also tested econometrically.

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India goes global

Catriona Purfield, Jerald Schiff
IMF
194 pages
$22