The Indian Growth Acceleration

A Brazilian Demand-led Insight

Bibliographic Data

ID13083254
AuthorsManuel Gonzalo (0000-0003-1719-5265, Universidad Nacional de Quilmes (UNQ), Buenos Aires, Argentina, corresponding author)
Year2022
Volume14
Issue4
Pages509-534
Publication date2022-02-08
Open AccessYes
TypeARTICLE
VenueMillennial Asia (JOURNAL)
Journal identifiersISSN: 2321-7081 • E-ISSN: 0976-3996
PublisherSAGE Publishing (PUBLISHER • US)
DOI10.1177/09763996211070332
OpenAlexW4210934079
LanguageEN
References cited23

With an average GDP growth rate of more than 6% India was one of the most dynamic economies in the twenty-first century. The conventional narrative stresses on the success of the New Economic Policy (NEP) implementation since 1990s as a process of liberalization and global insertion of Indian economy that caused growth. Introducing some nuance on this conceptualization, the main objective of this article is to discuss on the drivers of the Indian GDP growth between 1990 and 2015 from a Brazilian demand-led approach, paying main attention on the role of autonomous expenditures. Particularly, after clustering some Indian growth interpretations and data, the Brazilian debate between Furtado and Tavares is used to discuss the Indian growth acceleration. This blend of Brazilian and Indian authors and conceptual contributions is original in nature. Without ignoring the export contribution, we point out the relevance of upper class/cast ‘autonomous’ consumption (fueled by credit boom and real wage smooth increase), residential and government gross domestic capital formation (GDCF) and anticyclical fiscal policies

Boom · Consumption (sociology · Development economics · Economics · Economy · Liberalization · Macroeconomics · Market economy · Monetary economics · Shock (circulatory · Social science · Sociology · Economic Growth and Productivity · Economic Theory and Policy · Fiscal Policy and Economic Growth

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