We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Macroeconomic convergence, economic growth and financial development of India - Dissertation Example

Comments (1) Cite this document
India is an emerging country that has developed into an open market economy. In 2010, CIA World Fact Book ranks India as 5th in the world economy having $4.06 trillion gross domestic product (GDP.)…
Download full paper
Macroeconomic convergence, economic growth and financial development of India
Read TextPreview

Extract of sample
Macroeconomic convergence, economic growth and financial development of India

Download file to see previous pages... India is an emerging country that has developed into an open market economy. In 2010, CIA World Fact Book ranks India as 5th in the world economy having $4.06 trillion gross domestic product (GDP.). However, same source indicates there are still traces of its past autarkic policies because of the social democratic policies that have governed the country since 1947 to 1991. At that time, the economy was characterized by extensive regulation, slow growth, protectionism, and corruption. Reforms introduced in early 1990s that included trade and industry liberalization, removal of government control from the industries, and transfer of control of government resource to private business sector accelerated economic growth. Vernani (n.d.) estimated India’s economic growth since 1951 up to 1971 stayed at 3%, and in 1995 went up to 5%. Since 1997, India’s expansion has been more than 7%. India’s growth comes from farming, cultivation, craft, new industries and other services (CIA). Total labor force is 478 million; 52% is in agriculture, 34% is in services and 14% for other industries. India boasts of a large educated English-speaking population that becomes its asset for its export of information technology and software workers. The economic growth slowed down to 6.7% in 2008-2009 but has improved to 7.4% for the rest of 2009 to 2010 (Virnani) Due to big local demand  in 2010, the country recovered strongly from the economic meltdown and has charted over 9% growth. (Virmani,) At this time too, investment growth rate doubled as well as private consumption and imports accelerated; however, government consumption slowed down. Vernani explained that in 2007, investments were over 35%; demands were much higher than previous years; investment rate grew to 18%; domestic demands climbed to 60.1% and a negative rate for exports. However, despite the pronounced growths, CIA showed problems of India that include extensive privation, insufficient infrastructures, limited employment opportunities in non-agriculture sector, inadequate way in to quality education, and accommodation of “rural-to-urban migration”. Financial development in India The process of financial system in India according to Sandhya (2009) ”is an interaction of financial institutions, financial markets, financial instruments/assets/securities and financial services which are controlled by the government” . The Indian financial system is also parallel in the role of other governments in the financial markets. Cihak (2011) said the role of governments in finance was less before the global crisis because empirical studies showed harmful effects of government interventions. The crisis changed the minds of the people and thought that it is time for the government to adopt policies to maintain stability, drive growth and create jobs. As such, clearer roles emerged for the government to adopt direct interventions such as ownership, credit guarantees and liability guarantees. Government has to regulate and supervise economic activities and to promote competition, infrastructure and technology, Cihak said. Empirical results of macroeconomic convergence theories. Economic convergence starts with simple cooperation on agreed upon aspects from among member countries that often lead to integration or merger of these countries. Maruping (2005) defines macroeconomic convergence as a local assimilation that requires joining of two or more states, basically thru a Privileged Agreement, sometimes done thru Bilateral Trade Agreeements.  He describes economic convergence as an organized plan intended for the easy access of service and goods as well as coordination of foreign economic policies of these states in the same region. According to the Dictionary of Trade Policy Terms of WTO, regionalism is described as “actions by governments to liberalize or facilitate trade on a regional basis, sometimes through free-trade areas or ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Macroeconomic convergence, economic growth and financial development Dissertation”, n.d.)
Retrieved de https://studentshare.org/macro-microeconomics/1391004-macroeconomic-convergence-economic-growth-and-financial-development-of-india
(Macroeconomic Convergence, Economic Growth and Financial Development Dissertation)
“Macroeconomic Convergence, Economic Growth and Financial Development Dissertation”, n.d. https://studentshare.org/macro-microeconomics/1391004-macroeconomic-convergence-economic-growth-and-financial-development-of-india.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
stephen06 added comment 3 months ago
Student rated this paper as
The topic of "Macroeconomic convergence, economic growth and financial development of India" was hard to find. I spent hours to find it. Here at StudentShare, I got the finest example. Many thanks!
Macroeconomic convergence, financial development and economic growth
Macroeconomic convergence, economic growth and financial development.Convergence is a process in which the per capita incomes of the poorer economies tend to grow as fast as that of the richer economies. The process results in the all the economies per capita incomes to converge eventually.
12 Pages(3000 words)Dissertation
Global energy and economic growth: the need for sustainable development
Abstract Growth economics must be the concern of countries which are fighting the forces of globalisation. But it is also the concern of developed countries that are longing to stay on top in the fight for supremacy between countries. This dissertation looks at the world economic growth from the present up to the United Nations’ projections of 2075 and 2300.
30 Pages(7500 words)Dissertation
Qatar from a tiny Gulf peninsula to an economic powerhouse : Qatar Economic growth development
Qatar’s economy – phases of growth 11 4.3 Comparative advantage of Qatar 12 4.4 Qatar Economy – performance at national and at private level 14 Oil Sector 16 Gas Sector 17 Manufacturing 18 4.5 Business environment in Qatar 22 4.6 Management of knowledge in Qatar 23 4.7 Challenges that Qatar would have to face for achieving a long-term economic growth 28 5.0 Conclusions and Recommendations 30 6.0 References 33 1.0 Introduction When having to evaluate the performance of a country’s economy there are certain issues that need to be reviewed.
34 Pages(8500 words)Dissertation
Impact of different variables on the economic growth of Sweden
Looking at this nature of Swedish economy, it is some times characterized as a system of welfare state socialism. Some, however, like to view this system as welfare state corporatism. Economic growth of Sweden can well be expected to be dependent on various economic policies undertaken by the government of the country.
10 Pages(2500 words)Dissertation
Economic growth and convergence in poor countries

The research process will cover a number of stages. The detailed review of literature is performed, to identify the gaps in research a clearer picture of contemporary management practices in the developing countries. The development of the research question was followed by the analysis of the available literature and potential research objects.

21 Pages(5250 words)Dissertation
Economic Implications of the EU's Single Currency on German Economy
Literature Review 2.1 Possible effects of single currency----------------------------------------------------9 2.2 Positive effects on Germany----------------------------------------------------------11 2.3 Problems for Germany-----------------------------------------------------------------12 2.4 Fiscal fines paid to the ECB-----------------------------------------------------------14 2.5 Euro or Teuro----------------------------------------------------------------------------16 2.6 The macroeconomic indicators--------------------------------------------------------17 2.7 What Germany could have done------------------------------------------------------24 3.
40 Pages(10000 words)Dissertation
Development of Chinese economic
The status of national economy, its growth potential and the constraints in establishing market for the companies’ products internationally and cultural aspects involved at the grass root level in achieving these objectives need to be carefully reviewed for this purpose.
38 Pages(9500 words)Dissertation
Economic Development of China
The findings of this study suggest that firm performance and the effectiveness of monitoring mechanism do not depend on who owns shares but depends on the incentive structure of different state-share holders. This result supports the suggestion by Stiglitz that is the introduction of market-oriented state-share holders.
47 Pages(11750 words)Dissertation
Economic Growth and Unemployment
The period of economic recession has created a traumatic situation of unemployment in the United Kingdom. According to the Office of National Statistics, unemployment has increased to 2.5 million during October, 2010. The claims of the UK government that the economy is no longer in the realm of danger has raised certain doubts.
12 Pages(3000 words)Dissertation
Macroeconomic Convergence, Financial Development and Economic Growth
The author of the paper states that the term convergence rightfully suited the gradual economic and financial development of China. China is a developing country which is gradually catching up to the wealthier countries like US, Europe, and Japan in terms of the per capita income. The economic development has helped the process of transformation of China
11 Pages(2750 words)Coursework
Let us find you another Dissertation on topic Macroeconomic convergence, economic growth and financial development of India for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us