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Posts by Arvind Subramanian

Everything you know about cross-country convergence is (now) wrong

A quarter-century after the empirical growth literature set out to explain why poor countries are not catching up with rich ones, cross-country regressions have mercifully gone out of fashion. In this...

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Climate change and Indian agriculture

Indian agriculture remains vulnerable to the vagaries of weather, and the looming threat of climate change may expose this vulnerability further. This article presents findings from a study that uses ...

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Coal and the climate change debate

In the run-up to the Paris Climate Summit, there has been a growing call among advanced nations to phase out fossil fuels. In this article, Arvind Subramanian, Chief Economic Adviser, Government of I...

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India's monetary policy in unusual times, uncharted waters

There is a lot of discussion of the right course of monetary policy for India. In this article, India’s Chief Economic Adviser Arvind Subramanian argues that the country’s real policy interest ra...

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Charting a course for the Indian economy

Karthik Muralidharan (Associate Professor of Economics, University of California, San Diego) speaks with Arvind Subramanian (Chief Economic Adviser, Government of India) on a broad set of issues rang...

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Land Shackled - II

Rising land scarcity and land market distortions are increasingly becoming a binding constraint on development in India. In their previous article, Kapur, Somanathan and Subramanian diagnosed India...

  • Perspectives

Land Shackled

Rising land scarcity and land market distortions are increasingly becoming a binding constraint on development in India. In the first of a two-part series, Kapur, Somanathan and Subramanian diagnose ...

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Is the rupee fairly valued?

Is the rupee fairly valued, and should the RBI allow it to appreciate beyond its current rate? This column analyses new World Bank data and finds that the rupee is persistently undervalued by 30% or ...

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India's WTO problem: A proposal

India is threatening to block the WTO Trade Facilitation Agreement unless its agricultural policies are exempted from multilateral scrutiny. This article contends that while India’s objectives on ag...

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Modi's first Budget for India: Disappointing but retrievable

In this article, Arvind Subramanian contends that while Modi’s first Budget was good on vision, it fell short in terms of fiscal adjustment, budgetary transparency and credibility, and specificity ...

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The Jaitley Budget: Planning for crisis

El Nino can potentially derail the best-laid plans of the new government in India. The article contends that the finance minister would do well to plan his first Budget by attaching a reasonable prob...

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Reversing premature de-industrialisation in India

In countries across the world, de-industrialisation is taking place earlier in the development process. This column analyses how India fares in this regard. It finds that for most Indian states, the ...

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