澳大利亚留学生Economics Essay [6]
论文作者:英语论文论文属性:课程作业 Coursework登出时间:2014-09-29编辑:yangcheng点击率:10031
论文字数:4498论文编号:org201409182310097393语种:英语 English地区:澳大利亚价格:免费论文
关键词:民营企业贷款Economics Essay印度发展私营部门经济学论文Predatory Growth
摘要:本文是一篇分析印度发展的经济学论文,近期发展中国家如印度和中国的较高的增长速度,导致了经济学家的一些激烈争论。著名的印度经济学家Amit Bhaduri称近期较高的增长速度为“掠夺性增长”。
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49.7
Total
86.46
84.21
82.46
84.52
87.71
92.40
98.38
Source: Ministry of Labour & Employment, Director General of Employment and Training.
From the table we can understand that in the high growth period there is a gradual increase in the employment in manufacturing sector and the total employment in private sector also had shown a significant positive change. So instead of considering the methodological issues in calculating the private sector performance and the data, Bhaduri made an assumption that private sector growth is ‘jobless’. He should have concentrated more on the ‘emergence of skill shortage’ (lack of demand for skilled and semi-skilled labourers) as the main reason for the joblessness.
Observations on the fiscal responsibility and budgetary management act (FRBM)
Bhaduri claimed that the introduction Fiscal Responsibility and Budgetary Management Act(2003) is not crisis-driven, but
strategy-driven(Bhaduri,2006).FRBM act is implemented as part of fulfilling the conditions of multinational agencies as part of the strategy of ‘sound finance’. He added that this strategy will only benefit the financial markets, not the poor. The normal Keynesian argument is also the same.i.e; the raise in fiscal deficit will only lead to the development of the country. But anti-Keynesian economists argue that is ‘inflationary’.
But during the period of high growth, India had a better fiscal situation than before and we cannot completely ignore the contribution of FRBM act. Since the implementation of the act, the fiscal deficit has started decreasing gradually up to 2008(Table 2).The fiscal situation both center and states has shown a positive path, thogh the situation is far from ideal. Bhaduri avoided the fact that the infamous 1990’s crisis is a result of the huge fiscal deficit and only shows the need of controlling fiscal deficit.
Table 2
Center and states’ fiscal deficit (% of GDP at current market prices)
Year
Centers’ Deficit
States Deficit
2000-01
5.65
4.18
2001-02
6.19
4.14
2002-03
5.19
4.06
2003-04
4.48
4.38
2004-05
3.88
3.32
2005-06
3.97
2.44
2006-07
3.32
1.81
2007-08
2.55
1.51
Source : Reserve Bank of India, Central Statistical Organization and Ministry of Finance
The table shows a notable decline in fiscal deficit even if the government has introduced employment programmes like MNREGS (2005), which helps in pumping huge amount money to the economy during the high growth period. Even if the act satisfies the interests of the financial markets, we cannot ignore the change in fiscal situation during the high growth period.
Public expenditure on social services
Bhaduri claimed that the policies of Public Expenditure for the poor during the high growth regime are only benefiting the rich. Social security policies implemented in developing countries shoul
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