A traditionally conservative country in financial matters, India enacted a series of reforms in response to its balance of payments crisis in the early 1990s. But since then only halting progress has been made, raising concerns about India’s rising fiscal deficit, inefficiencies in its...

The Benefits and Costs of Import Substitution in India was first published in 1975. In its basic economic plan, the government of India has fostered a policy of import substitution in virtually all industrial sectors. One industry in which the policy is followed is the automobile and ancillary...

India is the second most populous country in the world and also one of the poorest. From the late 1940s to 1980, India's per capita income grew at an average annual rate of only two percent. Expansionist economic reforms during the 1980s boosted economic growth but also unfortunately resulted in...

This book examines how Japan should cope with fiscal challenges, as demands on the budget from an ageing society have necessitated the reigning in of public debt and the revamp of the pension and healthcare systems. It combines insights from academic research with the views of policymakers to...

Hidden behind a number of economic crises in the mid- to late 1990s-including Argentina's headline-grabbing monetary and political upheaval-is that fact that Latin American economies have, generally speaking, improved dramatically in recent years. Their success has been due, in large part, to...

The volume of capital flows between industrial and developing countries has grown dramatically in the past decade and has become a major issue in a world that is increasingly "globalized." Here Takatoshi Ito and Anne O. Krueger, two leading experts on this topic, have assembled a group of...