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The Transformation of India: Incumbent Control, Reforms, and Newcomers

By: Laura Alfaro and Anusha Chari
  • Format:Electronic
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Abstract

What microeconomic forces drove the structural transformation of India's economy in recent decades? This column studies firm-level data and portrays a dynamic economy driven by the growth of private and foreign firms. But the Indian economy did not go through an industrial shakeout phase driven by creative destruction. The endurance of incumbent firms prevented a dramatic microeconomic transformation.

Keywords

Transformation; Microeconomics; India

Citation

Alfaro, Laura, and Anusha Chari. "The Transformation of India: Incumbent Control, Reforms, and Newcomers." Vox, CEPR Policy Portal (December 12, 2009).

About The Author

Laura Alfaro

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