One of the most remarkable stories of immigration in the last half century is that of Indians to the United States. People of Indian origin make up a little over one percent of the American population now, up from barely half a percent at the turn of the millennium. Not only has its recent growth been extraordinary, but this population from a developing nation with low human capital is now the most-educated and highest-income group in the world's most advanced nation. The Other One Per...

This is a comprehensive work on India's fiscal federalism. The book surveys and analyses the evolution of fiscal federalism from the angle of political economy and brings to bear analytical skills of a very high order to assess and relate the political and administrative dimensions of India's federal system to fiscal federal issues. The authors present a synthesized framework, combining both economic and political elements in a political economy prism such as the Cente–State relations with...

Foreword by Prof. Kaushik BasuThis book traces the development experience of one of India’s most dynamic and prosperous states, Punjab, which has provided the country with a much-needed degree of food security. The relative regression of Punjab’s economy in the post-economic reforms period and slow current economic growth give cause for concern. The contributions in this book address the question of why the structural transformation of Punjab’s economy has fallen i...

There is no alternative to neoliberal economics - or so it appeared when Reclaiming Development was published in 2004. Many of the same driving assumptions - monetarism and globalization - remain within the international development policy establishment. Ha-Joon Chang and Ilene Grabel confront this neoliberal development model head-on by combining devastating economic critique with an array of innovative policies and an in-depth analysis of the experiences of leading Western and East Asian...

Bringing together a number of perspectives on the Japanese housing system, Housing and Social Transition in Japan provides a comprehensive, challenging and theoretically developed account of the dynamic role of the housing system during a period of unprecedented social and economic change in one of the most enigmatic social, political, and economic systems of the modern world.While Japan demonstrates many of the characteristics of some western housing and social systems, i...

A concise introduction to the ways in which the world's federations manage their finances. Topics covered include the distribution of taxation powers among different levels of government; regional equalization schemes; authority over natural resource revenues; and the impact of federal systems of government on pension, welfare, and income assistance programs. The book targets second-, third-, and fourth-year courses in Federalism and Comparative Politics at the university level, and will also...

Catch Up analyzes the evolution of developing countries in the world economy from a long-term historical perspective, from the onset of the second millennium but with a focus on the second half of the twentieth century and the first decade of the twenty-first century. It is perhaps among the first to address this theme on such a wide canvas that spans both time and space. In doing so, it highlights the dominance of what are now developing countries and it traces their decline and ...

An economist's perspective on the nuts and bolts of economic policymaking, based on his experience as the Chief Economic Adviser in India.In December 2009, the economist Kaushik Basu left the rarefied world of academic research for the nuts and bolts of policymaking. Appointed by the then Prime Minister of India, Manmohan Singh, to be chief economic adviser (CEA) to the Government of India, Basu—a theorist, with special interest in development economics, and a prof...

India's economic resurgence has been the subject of many extravagant predictions and hopes. In this powerful and wide-ranging book, distinguished economist Vijay Joshi lays out a penetrating analysis of the shaky foundations of the country's performance, and charts the course that it should follow to achieve widely-shared prosperity. Joshi argues that for India to realize its huge potential, the relation between the state, the market, and the private sector must be comprehensively realigne...

There are complex interrelationships between trade, aid and development, and with the move to a greater integration of economies throughout the world, trade has become a vital factor in the economic, social and political development of Third World nations.Trade, Aid and Global Interdependence presents a concise analysis of this vast topic. Trade is introduced as a concept and as an activity; aid and global interdependence are then described in the context of trade in practi...

Nearly ten years after the Asian Financial Crisis, financial turmoil has reappeared – this time it is ravaging the world's wealthiest countries and dragging the global economy along for the ride. It forces one to reflect on the last major financial crisis to afflict the global economy, and to consider whether there are any similarities, and whether there are any lessons from that crisis that we can apply to the current one.Written by a distinguished group of individuals from gove...

Why do governments turn to the International Monetary Fund (IMF) and with what effects? This book argues that governments enter IMF programs for economic and political reasons, and finds that the effects are negative on economic growth and income distribution. By bringing in the IMF, governments gain political leverage - via conditionality - to push through unpopular policies. Note that if governments desiring conditions are more likely to participate, estimating program effects is not str...