India or A Long Time Coming

India: An Emerging Giant

Author: Arvind Panagariya

India is not only the world's largest and fiercely independent democracy, but also an emerging economic giant. But to date there has been no comprehensive account of India's remarkable growth or the role policy has played in fueling this expansion. India: The Emerging Giant fills this gap, shedding light on one of the most successful experiments in economic development in modern history.
Why did the early promise of the Indian economy not materialize and what led to its eventual turnaround? What policy initiatives have been undertaken in the last twenty years and how do they relate to the upward shift in the growth rate? What must be done to push the growth rate to double-digit levels? To answer these crucial questions, Arvind Panagariya offers a brilliant analysis of India's economy over the last fifty years--from the promising start in the 1950s, to the near debacle of the 1970s (when India came to be regarded as a "basket case"), to the phenomenal about face of the last two decades. The author illuminates the ways that government policies have promoted economic growth (or, in the case of Indira Gandhi's policies, economic stagnation), and offers insightful discussions of such key topics as poverty and inequality, tax reform, telecommunications (perhaps the single most important success story), agriculture and transportation, and the government's role in health, education, and sanitation.
The dramatic change in the fortunes of 1.1 billion people has, not surprisingly, generated tremendous interest in the economy of India. Arvind Panagariya offers the first major account of how this has come about and what more India must do to sustain its rapid growth andalleviate poverty. It will be must reading for everyone interested in modern India, foreign affairs, or the world economy.

Table of Contents:

Prime Ministers of India     xi
Introduction     xiii
Growth and Economic Reforms
Distinguishing Four Phases     3
Phase I (1951-65): Takeoff under a Liberal Regime     22
Phase II (1965-81): Socialism Strikes with a Vengeance     47
Phase III (1981-88): Liberalization by Stealth     78
Phase IV (1988-2006): Triumph of Liberalization     95
A Tale of Two Countries: India and the Republic of Korea     110
Poverty, Inequality, and Economic Reforms
Declining Poverty: The Human Face of Reforms     129
Inequality: A Lesser Problem     157
Macroeconomics
Deficits and Debt: Is a Crisis around the Corner?     171
The External Sector: On the Road to Capital Account Convertibility?     191
The Financial Sector: Why Not Privatize the Banks?     214
Transforming India
International Trade: Carrying Liberalization Forward     259
Industry and Services: Walking on Two Legs     282
Modernizing Agriculture     311
The Government
Tax Reform: Toward a Uniform Goods and Services Tax     329
Tackling Subsidies and Reforming the Civil Service     351
Telecommunications and Electricity: Contrasting Experiences     370
Transportation: A Solvable Problem     396
Health and Water Supply and Sanitation: Can the Government Deliver?     415
Education: Expenditures or Transfers?     432
Industrial Policy 1990     455
Deriving the Savings-Investment Identity     460
Notes     462
References     484
Index     501

New interesting textbook: Best American Political Writing 2008 or First Ladies

A Long Time Coming: The Inspiring, Combative 2008 Campaign and the Historic Election of Barack Obama

Author: Evan Thomas

Since 1984, Newsweek has been renowned for its vivid, in-depth special election coverage of the ordeal of running for the presidency. A year before the election, Newsweek assigns reporters to get inside the campaigns of the Republican and Democratic candidates. Newsweek promises not to publish any information until after the votes are cast, and in exchange, the reporters receive remarkable access. They travel with the candidates, are there at crucial turning points and confidential meetings, and uncover stories not covered in day-to-day reporting.

In this book, a compelling narrative by Evan Thomas, Newsweek shares the inside stories from one of the most exciting elections in recent history, illuminating the personalities and events that influenced the outcome, and taking stock of the key players and key issues for the new administration. This will be an absorbing read for anyone interested in American politics.