This paper shows how the analytical framework developed in Lal-Myint (1996) and Lal (1998) can be used to think rigorously about the role of culture and politics in addition to traditional economic factors like factor-proportions in explaining divergent e

<i>Reviving the Invisible Hand</i> is an uncompromising call for a global return to a classical liberal economic order, free of interference from governments and international organizations. Arguing for a revival of the invisible hand of free international trade and global capital, eminent economist...

A transfer function for private household transfers in rural India is estimated from the National Council of Applied Economic Research's (NCAER's) ARIS-REDS survey for 1998–99. It is found that till a threshold, income (close to the rural poverty line) transfers are altruistically...

Do political decentralisation and inter state competition favour innovation and growth? There has long been a lively debate surrounding this question, going back to David Hume and Immanuel Kant. This book is a new attempt to test its veracity. The existing literature tends to assume that the...

This article first explains why India’s recent form of rent seeking has not damaged its growth performance. Second, it argues that India’s recent embrace of Latin American style populism could lead to a ‘growth collapse’. Third, the entitlement economy being created...