Journal of Indian School of Political Economy

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Economic Reforms, Anatomy of Behavioural Agents and Macroeconomic Outcomes:A Critical Review of the Performance of the Indian Economy


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1 RBI Endowment Monetary Unit, Department of Economics, Vidyanagari, Santa Cruz (E), Kalina, University of Mumbai, Mumbai-400098, India
     

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The paper, a critical review of the performance of the Indian economy, finds that nowithstanding the remarkable resilience of the economy as a result of stabilisation measures, growth has faltered since the mid nineties. The myopic behaviour of agents [households, firms, commercial banks, the central bank (monetary authority) and the government force 'sub-optimal' outcomes.
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  • Economic Reforms, Anatomy of Behavioural Agents and Macroeconomic Outcomes:A Critical Review of the Performance of the Indian Economy

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Authors

D. Tripati Rao
RBI Endowment Monetary Unit, Department of Economics, Vidyanagari, Santa Cruz (E), Kalina, University of Mumbai, Mumbai-400098, India

Abstract


The paper, a critical review of the performance of the Indian economy, finds that nowithstanding the remarkable resilience of the economy as a result of stabilisation measures, growth has faltered since the mid nineties. The myopic behaviour of agents [households, firms, commercial banks, the central bank (monetary authority) and the government force 'sub-optimal' outcomes.