Amartya Lahiri on Fostering Economic Growth
Ideas of India
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What Happened in the Indian Economy in the Mid-1990s?
I actually think pick up and grow started in mid 19 eighties, not necessarily early nineties. And a lot of that, i was sequentially getting rid of frictions that prevent ed factors from moving to their highest returns. The more the frictions we had set up in economy with a labyrinth of such restrictions that people and capital couldn't really move to sectors where they could make most money. It's about people making decisions under uncertainty.
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