May, 2015

Why Growth Matters: How Economic Growth in India Reduced Poverty and the Lessons for Other Developing Countries

Jagdish Bhagwati and Arvind Panagariya
  • G. P. Manish

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In Why Growth Matters, Jagdish and Arvind Panagariya make their case for why reforms and the associated growth rates have benefited the poorest of the poor in India. The increased productivity unleashed bu the process of liberalization has according to them, "pulled up" millions out of poverty and into gainful employment (p. xviii). Moreover, the increased growth has provided the Indian government with added revenues to undertake expenditure on education, health care and other much needed redistributive programs to aid the poor. Growth, thereby has enabled a "double barreled assault on poverty (p.xix)". 

Find article at Springer Link