DVM 4130 Lecture Notes - Lecture 3: Indirect Rule, Capital Account Convertibility, Geopolitics
3 Dec 2014
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Liberalization began in 1980s and 1990s, but began in the 1970s with the congress. Party, which was the strongest, most dominating party since independence: bjp was the counter, conservative right-wing party, india based its politics around national economic independence; largely nationalised and protectionist. In the 1970s, india decided not to borrow from imf, which allowed them to avoid the. Crisis of the soviet significantly disrupted india"s trade. India was strong allies with the soviet, because of opposing certain us financial regulations. India"s experience suggests: development via the international economy still creates significant political problems, distinction between trade and capital inflows and between short and long-term capital flows still important. Its economy requires access to foreign markets for their manufactured goods. And a continuing dependency on guest workers to fill labour gaps. Tackling poverty from inside through the production system and addressing by throwing money from the outside.
