ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Economic Reforms and Rate of Saving in India

Economic Reforms and Rate of Saving in India Premachandra Athukorala Kunal Sen This paper contributes to the current debate on the decline in the domestic saving rate in India in the aftermath of the liberalisation reforms initiated in 1991. It is found that the decline in the saving rate has predominantly originated in household physical saving, the main subcategory of saving which is common to both saving and investment estimates prepared by the CSO. Given that the persistent decline in household physical saving has occurred in a context where private corporate investment have exhibited strong growth and that there is no evidence of an intrinsic bias in the new policy regime against the unorganised sector, we suspect that the decline in the saving rate is a statistical artefact resulting from an underestimation of total gross domestic capital formation.

Move towards a Market Economy-Modern Austrian and Post-Keynesian Perspectives

Modern Austrian and Post-Keynesian Perspectives Kunal Sen Rajendra Vaidya The recent economic policy reforms initiated by the government with the intention of moving the Indian economy towards more market orientation have led to a debate among Indian economists on the efficacy and need for free markets and the role that the government should play in the economy. The debate has been mostly centred around the proponents of two theoretical standpoints

Changes in Saving Rate and Its Implications for Growth

Implications for Growth Tirthankar Roy Kunal Sen An apparent slow-down in the overall saving ratio has generated interest in the saving behaviour of the Indian economy in the eighties. This paper situates the saving-investment data in the wider context of recent industrial growth and structural change and finds some basis to say that household savings may have been moving towards sectors and assets that involve lower capital-output ratios, and saving-investment behaviour of households may bear a close relationship with changes in the capital and labour markets, especially in industry Introduction RECENTLY several contributions have appeared on the measurement and interpretation of saving behaviour in the eighties

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