First published in 1972, this is a book of essays offered in honour of Paul Rosenstein-Rodan, the distinguished economist whose career started in mid-1920s Vienna and subsequently spanned Europe, Britain, the USA and many of the less developed countries of the world.The book includes reviews of past developments, chapters on development trade and value theory, an assessment of contemporary emerging economic patterns, development and trade policy, and investment policy. Further essays cover the intellectual history of development economics, general aspects of growth and economic policy in underdeveloped countries and the problems of income distribution and sectoral and regional development.

First published in 1972, this is a book of essays offered in honour of Paul Rosenstein-Rodan, the distinguished economist whose career started in mid-1920s Vienna and subsequently spanned Europe, Britain, the USA and many of the less developed countries of the world.The book includes reviews of past developments, chapters on development trade and value theory, an assessment of contemporary emerging economic patterns, development and trade policy, and investment policy. Further essays cover the intellectual history of development economics, general aspects of growth and economic policy in underdeveloped countries and the problems of income distribution and sectoral and regional development.

This collection of essays is dedicated to Arthur Dunkel who presided over the General Agreement on Tariffs and Trade (GATT) between 1980 und 1993. As Director-General during a crucial period for international trade, he is credited with being the chief architect of the Uruguay Round of Multilateral Trade Negotiations. Among the contributors in this volume are not only distinguished trade policy makers of today, eminent academics from international economics and law, and leaders of international institutions and business, but also prominent players in the Uruguay Round negotiations. Their experiences, reminiscences and analyses make this volume a unique contribution, offering a rare insight into what went into the Uruguay Round and the making of the World Trade Organization (WTO), and what lies beyond.

The economy of India is growing at a rate of 8 percent per year, and its exports of goods and services have more than doubled in the past three years. Considering these trends, economists, scholars, and political leaders across the globe are beginning to wonder whether India's growth can be sustained.

The contributors to this volume analyze the forces behind India's emerging role as a world economic player and identify the hidden weaknesses that, if unaddressed, may slow the country's growth. Chapters suggest how to transform India's primarily rural population into a gainfully employed modern sector; methods to achieve fiscal sustainability and consolidation; infrastructure bottlenecks, especially in terms of finite energy resources; and, given the country's complex electoral government and global political position, the obstacles toward effecting policy reform.

"Sustaining India's Growth Miracle" is a valuable resource for practitioners, policymakers, students, and scholars. It tackles issues from political, economic, and academic perspectives, and the concluding chapter, a talk given by the commerce and industry minister of India, discusses the country's position as a world power, outlining several reasons for its success and exploring the difficulties that lie ahead.

In "Globalization Challenged," George Rupp, president of the International Rescue Committee, outlines the steps necessary to engage the contemporary conflict between traditional religious belief and Western secularism.

According to Rupp, the key objective is to build a community that is inclusive without denying the validity of particular commitments. While he acknowledges the threat of "resurgent fundamentalism," Rupp also criticizes secularists who fail to recognize or acknowledge the role of religion and its ideological equivalents in influencing public policy. All views, he asserts, are subject to comparative appraisal. The challenge is to develop ways to evaluate different approaches responsibly, leading to a greater understanding of one's own convictions as well as the positions of others.

Rupp reinforces his critical and theoretical analysis with dramatic accounts of recent events in Afghanistan, the Democratic Republic of Congo, and Sudan--places where the International Rescue Committee operates. He then addresses the role of globalization in fueling instability worldwide. Inadequately regulated privatization has compromised health care, education, and social programs in many countries, whereas an inclusive community would encourage a more equitable distribution of resources.

Essays by Jagdish Bhagwati, Jeremy Waldron, and Wayne Proudfoot expand Rupp's arguments, and in a final chapter Rupp responds to the issues they raise. Essential reading for anyone who hopes to understand the roots of today's geopolitical tensions, "Globalization Challenged" asks that we shed our complacency, recognize the legitimate role of conviction, and take actions to shape a more just and inclusive society.

In Globalization Challenged, George Rupp, president of the International Rescue Committee, outlines the steps necessary to engage the contemporary conflict between traditional religious belief and Western secularism. According to Rupp, the key objective is to build a community that is inclusive without denying the validity of particular commitments. While he acknowledges the threat of "resurgent fundamentalism," Rupp also criticizes secularists who fail to recognize or acknowledge the role of religion and its ideological equivalents in influencing public policy. All views, he asserts, are subject to comparative appraisal. The challenge is to develop ways to evaluate different approaches responsibly, leading to a greater understanding of one's own convictions as well as the positions of others. Rupp reinforces his critical and theoretical analysis with dramatic accounts of recent events in Afghanistan, the Democratic Republic of Congo, and Sudan-places where the International Rescue Committee operates. He then addresses the role of globalization in fueling instability worldwide. Inadequately regulated privatization has compromised health care, education, and social programs in many countries, whereas an inclusive community would encourage a more equitable distribution of resources. Essays by Jagdish Bhagwati, Jeremy Waldron, and Wayne Proudfoot expand Rupp's arguments, and in a final chapter Rupp responds to the issues they raise. Essential reading for anyone who hopes to understand the roots of today's geopolitical tensions, Globalization Challenged asks that we shed our complacency, recognize the legitimate role of conviction, and take actions to shape a more just and inclusive society.

In its history since Independence, India has seen widely different economic experiments: from Jawharlal Nehru's pragmatism to the rigid state socialism of Indira Gandhi to the brisk liberalization of the 1990s. So which strategy best addresses India's, and by extension the world's, greatest moral challenge: lifting a great number of extremely poor people out of poverty?
Bhagwati and Panagariya argue forcefully that only one strategy will help the poor to any significant effect: economic growth, led by markets overseen and encouraged by liberal state policies. Their radical message has huge consequences for economists, development NGOs and anti-poverty campaigners worldwide. There are vital lessons here not only for Southeast Asia, but for Africa, Eastern Europe, and anyone who cares that the effort to eradicate poverty is more than just good intentions. If you want it to work, you need growth. With all that implies.

Reforms and Economic Transformation in India is the second volume in the series Studies in Indian Economic Policies. The first volume, India's Reforms: How They Produced Inclusive Growth (OUP, 2012), systematically demonstrated that reforms-led growth in India led to reduced poverty among all social groups. They also led to shifts in attitudes whereby citizens overwhelmingly acknowledge the benefits that accelerated growth has brought them and as voters, they now reward the governments that deliver superior economic outcomes and punish those that fail to do so.
This latest volume takes as its starting point the fact that while reforms have undoubtedly delivered in terms of poverty reduction and associated social objectives, the impact has not been as substantial as seen in other reform-oriented economies such as South Korea and Taiwan in the 1960s and 1970s, and more recently, in China. The overarching hypothesis of the volume is that the smaller reduction in poverty has been the result of slower transformation of the economy from a primarily agrarian to a modern, industrial one. Even as the GDP share of agriculture has seen rapid decline, its employment share has declined very gradually. More than half of the workforce in India still remains in agriculture. In addition, non-farm workers are overwhelmingly in the informal sector. Against this background, the nine original essays by eminent economists pursue three broad themes using firm level data in both industry and services.
The papers in part I ask why the transformation in India has been slow in terms of the movement of workers out of agriculture, into industry and services, and from informal to formal employment. They address what India needs to do to speed up this transformation. They specifically show that severe labor-market distortions and policy bias against large firms has been a key factor behind the slow transformation. The papers in part II analyze the transformation that reforms have brought about within and across enterprises. For example, they investigate the impact of privatization on enterprise profitability. Part III addresses the manner in which the reforms have helped promote social transformation. Here the papers analyze the impact the reforms have had on the fortunes of the socially disadvantaged groups in terms of wage and education outcomes and as entrepreneurs.

When India embraced systematic economic reforms in 1991 and began opening its economy to both domestic and foreign competition, critics argued that they had contributed little to the acceleration of economic growth. Their argument had rested on the claim that growth in the 1990s was no faster than in the 1980s. This claim was quickly refuted on the grounds that when properly evaluated, growth had indeed accelerated in the 1990s and, more importantly, while reforms had been made systematic in 1991, they had actually begun much earlier in the late 1970s. Subsequently, the reforms of the late 1990s and early 2000s have led to a jump in the growth rate from six percent in the 1990s to eight to nine percent beginning in 2003. The reforms have also led to a major structural change in the economy: the trade to GDP ratio tripled since 1991, there has been a gigantic expansion of foreign investment in India, and sectors such as telecommunications, airlines, and automobiles have expanded at rates much higher than those observed any time in the past. This dramatic turn-around has led the critics to shift ground. They now argue that opening the economy to trade has hurt the poor; that rapid growth is leaving the socially disadvantaged groups behind; and that the reforms have led to increased inequality. They also argue that people themselves do not feel that their fortunes are improving. The five original essays in this volume, topped by a substantial introductory essay summarizing their findings, take these challenges head on. They use large-scale sample surveys and other data to systematically address each of these arguments. They show that trade openness has indeed helped reduce poverty not just in general but also among the socially disadvantaged groups. The contributors to the volume find no evidence whatsoever in favor of a negative impact of trade openness on poverty on any groups. The essays also show that inequality shows no clear trend and is unrelated to trade openness. Peoples responses have also now turned grossly in favor of reforms. Thus, when asked how they feel about the change in their fortunes in the recent past, an overwhelmingly large proportion of individuals from every conceivable group report improvements. Moreover, systematic analysis of the 2009 parliamentary elections show that people now reward the Chief Ministers in states in which they deliver superior growth outcomes and punish those that do not. This book is the first volume in the series Studies in Indian Economic Policies edited by Jagdish Bhagwati and Arvind Panagariya and published by OUP. It contains the first set of five original papers produced under the auspices of the Columbia Program on Indian Economic Policies housed in the School of International and Public Affairs (SIPA) and the Institute for Social and Economic Research and Policy (ISERP).

From gaining its independence in 1947 until only recently, India was a centrally planned economy, complete with five year plans. With the end of the Gandhi dynasty and the move to privatization of a wide range of industries, there are many changes which have and will affect the development of Indian economics. With its exploding population rate and complex political relations (both internally and with its neighbors) there are also many political complications to tie down the progress of this gigantic nation. In this work, renowned economist Jagdish Bhagwati provides a lucid overview of Indian development. His analysis places Indian development in an international political and intellectual context which is an unusual and stimulating approach. Lucid in its discussion and practical in its approach, this work is an asset to scholars and professionals in business and policymakers who need an overview of Indian development policy.

Skilled immigration into rich countries and competition for talent and professional skills are of major concern among nations today. Comprehensive immigration reform addressed to illegal immigration predictably foundered in Congress last year. This revived the question of skilled immigration and was hastily added to the proposed reform agenda in the hope that it would bring more pro-immigration troops into battle. Immigration reform still failed but it will not die. The specific issue of skilled immigration, and how to redesign it, will remain one of the central issues before the world community as well.
How important is this phenomenon? How do the legal-immigration systems of rich countries address this need? How do professional associations that may find such inflows a threat to their members' earnings seek to curtail these flows? What are the implications on the sending countries, which are generally less developed, when rich countries admit skilled professionals from them? Is it correct to object that the rich countries are depriving the poor ones of badly needed professionals (especially in Africa)? What should our immigration policies be in this regard? How should tax policy, for example, be changed in light of the growing phenomenon of skilled migrant flows? These and a host of related policy questions are addressed uniquely in Skilled Immigration Today. Bhagwati and Hanson present an informed awareness of the rich historical analysis of the phenomenon and several policy initiatives already attempted with sophisticated theoretical analysis. The essays, with an overview that ties them together, are written by today's foremost immigration experts.

Here's the new avatar of the previously entitled ""Indian Economy Since Independence,"" the highly acclaimed and widely accepted reference text which continued to be revised every year until it ran into its 18th edition in 2006.The book is essentially, a collection of select articles by some of India's topmost economists and experts. These highly recommended original readings are well supported by comprehensive 'editorial notes' by Uma Kapila.In addition to being a widely read textbook by college/university students and IAS/MBA aspirants, this volume also serves as an ideal gateway for any interested reader to explore, in a most authentic manner, various aspects relating to India's economic development since 1947.

Jagdish Bhagwati, an internationally renowned economist known for his insightful analyses and elegant writing, here shines a critical light on Preferential Trade Agreements, revealing how the rapid spread of PTAs endangers the world trading system. Preferential Trade Agreements, many taking the form of Free Trade Agreements, now number over 300 and are rapidly increasing. Bhagwati reveals how these agreements have recreated the unhappy situation of the protectionist 1930s, when world trade was undermined by discriminatory practices (today, ironically, as a result of a misdirected pursuit of free trade). The world trading system is definitely at risk again, the author argues, and the danger is palpable. Indeed, PTAs have created a chaotic system of preferences that has destroyed the principle of non-discrimination in trade. The trading system today is characterized by a blizzard of discriminatory barriers, each designed to favor some specific trading partner, so that we have what Bhagwati has called the "spaghetti bowl" problem. And while the big firms in the big countries can cope with the chaos, though at a cost, the author shows that small countries and small exporters are seriously handicapped. He also examines how FTAs are typically tied to extraneous issues such as openness to capital flows and inappropriate labor standards, so that the weaker nations, negotiating one-on-one with stronger nations, are forced to accept harmful demands unrelated to trade. Finally, the book warns that getting to multilateral free trade from the morass of PTAs will be almost an impossible task-like building a mansion from different-sized bricks. Preferential trade agreements, Bhagwati concludes, are not building blocks but stumbling blocks on the road of free trade. In Termites in the Trading System, he illuminates this growing threat to the world trading system. Acclaim for In Defense of Globalization: "If Mr. Bhagwati doesn't get a much deserved Nobel Prize for economics, he should get one for literature. His writing sparkles with anecdotes and delightful verbal pictures." -New York Sun "One of the world's leading international trade theorists.... Accessible and clearly argued. There is, one might say, a wealth of material on every page." -The Wall Street Journal "An outstandingly effective book.... Until further notice In Defense of Globalization becomes the standard general-interest reference, the intelligent layman's handbook, on global economic integration." -The Economist