jfelman

India’s Great Slowdown: What Happened? What’s the Way Out?

Abstract: We examine the pattern of growth in the 2010s. Standard explanations cannot account for the long slowdown, followed by a sharp collapse. Our explanation stresses both structural and cyclical factors, with finance as the distinctive, common element. In the immediate aftermath of the Global Financial Crisis (GFC), two key drivers of growth decelerated. ExportContinue reading “India’s Great Slowdown: What Happened? What’s the Way Out?”