South Korea's growth miracle has been well documented. A large set of institutional and policy reforms in the early 1960s is thought to have contributed to the country's extraordinary performance. In this paper, the authors assess the importance of one key set of policies, the trade policy...

In this paper the authors study the economic evolution between 1960 and 1995 of two states in India - Maharashtra and West Bengal. In 1960, West Bengal's per capita income exceeded that of Maharashtra. By 1995, it had fallen to just 69 percent of Maharashtra's per capita income. The authors...