Indian capitalism is not doomed

India’s problem of crony capitalism

The rise of modern capitalism in India in the 1990s was at first viewed in optimistic terms. A new breed of companies were born, who seemed to exhibit a new kind of competence, international competitiveness and high ethical standards. We could start putting our old mistrust of corrupt business . . . → Read More: Indian capitalism is not doomed

More thoughts on Occupy Nigeria

A few days back, I wrote a post about the Occupy Nigeria movement. As with many of my posts, my main goal was to research the issue and get a better understanding of what was going on and what I thought about it. The post has generated a good deal of feedback, some of . . . → Read More: More thoughts on Occupy Nigeria

Can we get back to track on corruption now?

Somewhere in 2010 or so, I personally started getting much more gloomy about India’s problem of corruption. For a snapshot of the zeitgeist, see this group of articles from August 2010. A large swathe of the economy operates in close contact with government. If government will not sensibly make rules, and then fail . . . → Read More: Can we get back to track on corruption now?

Corporate fascist economic system

A Fistful Of Dollars:

Without Federal Reserve intervention in the financial markets since September 2008, the biggest banks in the world would have entered bankruptcy liquidation. The U.S. economy would have experienced a 10% to 20% fall in GDP. The unemployment rate would have soared above 15%. The stock market would have fallen 70%. . . . → Read More: Corporate Fascist Economic System

A new low for Indian economic policy

Strange things in the appointments process:

16 May: Deepshikha Sikarwar has a story in the Economic Times today titled I-T dept seeks former SEBI chairman CB Bhave’s tax returns details. 25 April: Shaji Vikraman had a front page story in the Economic Times about how Bhave’s team at SEBI was being dispersed. And, Mobis . . . → Read More: A New Low for Indian Economic Policy

Charter cities

The idea of charter cities, originally promoted by Stanford economist Paul Romer, sparked a lively academic debate in the field of economic development. The idea of charter city rests on the premise of creating special reform zones within countries. The reform zone would not be governed by the prevailing system of formal and informal . . . → Read More: Charter Cities

How does big government affect the social fabric?

In a recent post ‘Does big government weaken the social fabric?’ I presented a table showing the percentages of the population in various countries who say that falsely claiming government benefits, cheating on taxes and accepting a bribe are never justifiable. I was using this data as a measure of the strength of the . . . → Read More: How Does Big Government Affect the Social Fabric?

Foreign aid and development economics

The aim of main research agenda of development economics in the last century was to provide an evolving approach to curing the persistence of poverty and underdevelopment in world’s least developed and developing countries. High economic growth in developing countries in the last decades has changed many developing nations into middle-income countries. For instance, . . . → Read More: Foreign Aid and Development Economics

Interesting Readings for December 29, 2010

Since most of us in India can talk about little else other than corruption, do read this article by Nauro F. Campos and Ralitza Dimova on voxEU which is an interesting meta-analysis about papers which analyze the impact of corruption on growth. I have long heard about meta-analysis, but this one made me . . . → Read More: Interesting Readings for December 29, 2010

The Empirics of Corruption, Institutions, and Economic Development

Urska Zagar posted two very interesting empirical articles (here and here) about the connections between corruption, economic freedom and economic welfare. The first two indicators are qualitative while the third one is rather easily measurable. In a sample of 50 advanced, developing and least developed countries, she found a positive and robust correlation between . . . → Read More: The Empirics of Corruption, Institutions, and Economic Development