Indian economic development in the recent period has attracted both favourable and unfavourable attention abroad. The development community including academics and activists regards the record of the Indian economy during the last twenty years as being extremely good by international standards....

Abstract It is argued here that – contrary to current conventional wisdom – an active market for corporate control is not an essential ingredient of either company law reform or financial and economic development. The absence of such a market in coordinated market systems during their modern...

Abstract This paper addresses the following main issues: (1) What is the nature of corporate financing patterns (i.e. how corporations finance their investments and growth) in emerging markets, and how have these evolved during the 1980s and 1990s? (2) Are there significant differences in...

Abstract An outstanding development of the 1990s, closely associated with the economic reform programme initiated by Dr Manmohan Singh, has been the very fast expansion of the stockmarkets and their growing role in the Indian economy. Both internal and external liberalisation measures,...

Abstract Among the non-socialist developing countries, the Indian economy has long been regarded as being a classical case of heavy state intervention. In the eyes of the powerful and influential neo liberal critics of the country's economic development, particularly the Bretton Woods...