This volume deals with a range of contemporary issues in Indian and other world economies, with a focus on economic theory and policy and their longstanding implications. It analyses and predicts the mechanisms that can come into play to determine the function of institutions and the impact of public policy.
This is a valuable book on an engaging theme that seeks to analyze the functioning of institutions to assess outcomes in terms of their impact on growth, efficiency and inequality. It demonstrates how economic theory can be used to improve our understanding of the real world and change it for the better. — Deepak Nayyar, Professor Emeritus, Jawaharlal Nehru University
Economic Growth, Efficiency and Inequality is a major contribution to theory with bearing on economic policy. This well-researched and insightful volume will be a major reference work for students of economics and policy makers alike. — M. Govinda Rao, Member, Fourteenth Finance Commission of India
This volume encompasses perfectly clearly written essays that reflect some of the driving themes in economics. It is a presentation for a wide set of readers. — Satya R. Chakravarty, Professor, Indian Statistical Institute
The scope of this book, as is clear from the preceding discussion, is not limited to the issues related to growth, efficiency and equality. It also encompasses other issues, such as auction, contest, and bargaining. This book does not seem to have a unified theme, but it provides illuminating discussions on those issues which not only have policy relevance but also are enriched with research content. — Debabrata Pal, Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi, Economic&Political Weekly
Introduction Satish K. Jain and Anjan Mukherji 1. Intersectoral Disparities and Growth Amitava Bose 2. Cycles and Crises in a Model of Debt-Financed Investment-Led Growth Soumya Datta 3. Policy-Induced Changes in Income Distribution and Profit-Led Growth in a Developing Economy Gogol Mitra Thakur 4. A Simple Dynamic Bargaining Model Amarjyoti Mahanta 5. Increasing Returns, Non-Traded Goods, and Wage Inequality Brati Sankar Chakraborty and Abhirup Sarkar 6. Equality, Priority, and Distributional Judgments S. Subramanian 7. Contest with Interdependent Valuations Rittwik Chatterjee 8. Auctions with Synergy Srobonti Chattopadhyay and Rittwik Chatterjee 9. Negligence as Existence of a Cost-Justified Untaken Precaution and the Efficiency of Liability Rules Satish K. Jain 10. The 11-20 Money Request Game and the Level-k Model: Some Experimental Results Sugato Dasgupta, Sanmitra Ghosh and Rajendra P. Kundu. About the Editors. Notes on Contributors. Index