Anand V. Swamy - Böcker

Since the economic reforms of the 1990s, India's economy has grown rapidly. To sustain growth and foreign investment over the long run requires a well-developed legal infrastructure for conducting business, including cheap and reliable contract enforcement and secure property rights. But it's widely acknowledged that India's legal infrastructure is in urgent need of reform, plagued by problems, including slow enforcement of contracts and land laws that differ from state to state. How has this situation arisen, and what can boost business confidence and encourage long-run economic growth? Tirthankar Roy and Anand V. Swamy trace the beginnings of the current Indian legal system to the years of British colonial rule. They show how India inherited an elaborate legal system from the British colonial administration, which incorporated elements from both British Common Law and indigenous institutions. In the case of property law, especially as it applied to agricultural land, indigenous laws and local political expediency were more influential in law-making than concepts borrowed from European legal theory. Conversely, with commercial law, there was considerable borrowing from Europe.In all cases, the British struggled with limited capacity to enforce their laws and an insufficient knowledge of the enormous diversity and differentiation within Indian society. A disorderly body of laws, not conducive to production and trade, evolved over time. Roy and Swamy's careful analysis not only sheds new light on the development of legal institutions in India, but also offers insights for India and other emerging countries through a look at what fosters the types of institutions that are key to economic growth.

An essential history of India's economic growth since 1947, including the legal reforms that have shaped the country in the shadow of colonial rule.Economists have long lamented how the inefficiency of India's legal system undermines the country’s economic capacity. How has this come to be? The prevailing explanation is that the postcolonial legal system is understaffed and under-resourced, making adjudication and contract enforcement slow and costly.Taking this as given, Law and the Economy in a Young Democracy examines the contents and historical antecedents of these laws, including how they have stifled economic development. Economists Roy and Swamy argue that legal evolution in independent India has been shaped by three factors: the desire to reduce inequality and poverty; the suspicion that market activity, both domestic and international, can be detrimental to these goals; and the strengthening of Indian democracy over time, giving voice to a growing fraction of society, including the poor.Weaving the story of India's heralded economic transformation with its social and political history, Roy and Swamy show how inadequate legal infrastructure has been a key impediment to the country's economic growth during the last century. A stirring and authoritative history of a nation rife with contradictions, Law and the Economy in a Young Democracy is essential reading for anyone seeking to understand India's current crossroads—and the factors that may keep its dreams unrealized.

South Asia's economies, as well as the scholarship on their economic histories, have been transformed in recent decades. This landmark new reference history will guide economists and historians through these transformations in Bangladesh, India and Pakistan. Part I revisits the colonial period with fresh perspectives and updated scholarship, incorporating recent research on topics such as gender, caste, environment, and entrepreneurship. The contributors highlight the complex and diverse experiences of different groups to offer a more nuanced understanding of the past. Part II focuses on economic and social changes in South Asia over the last seventy-five years, offering a comprehensive view of the region's historical trajectory. Together, the contributions to this volume help to reassess the impact of colonialism through a more informed lens, as well as providing analysis of the challenges and progress made since independence.

South Asia's economies, as well as the scholarship on their economic histories, have been transformed in recent decades. This landmark new reference history will guide economists and historians through these transformations in Bangladesh, India and Pakistan. Part 1 revisits the colonial period with fresh perspectives and updated scholarship, incorporating recent research on topics such as gender, caste, environment, and entrepreneurship. The contributors highlight the complex and diverse experiences of different groups to offer a more nuanced understanding of the past. Part 2 focuses on economic and social changes in South Asia over the last seventy-five years, offering a comprehensive view of the region's historical trajectory. Together, the contributions to this volume help to reassess the impact of colonialism through a more informed lens, as well as providing analysis of the challenges and progress made since independence.

South Asia's economies, as well as the scholarship on their economic histories, have been transformed in recent decades. This landmark new reference history will guide economists and historians through these transformations in Bangladesh, India and Pakistan. Part I revisits the colonial period with fresh perspectives and updated scholarship, incorporating recent research on topics such as gender, caste, environment, and entrepreneurship. The contributors highlight the complex and diverse experiences of different groups to offer a more nuanced understanding of the past. Part II focuses on economic and social changes in South Asia over the last seventy-five years, offering a comprehensive view of the region's historical trajectory. Together, the contributions to this volume help to reassess the impact of colonialism through a more informed lens, as well as providing analysis of the challenges and progress made since independence.

A New Economic History of Colonial India provides a new perspective on Indian economic history. Using economic theory and quantitative methods, it shows how the discipline is being redefined and how new scholarship on India is beginning to embrace and make use of concepts from the larger field of global economic history and economics.The book discusses the impact of property rights, the standard of living, the labour market and the aftermath of the Partition. It also addresses how education and work changed, and provides a rethinking of traditional topics including de-industrialization, industrialization, railways, balance of payments, and the East India Company. Written in an accessible way, the contributors – all leading experts in their fields – firmly place Indian history in the context of world history.An up-to-date critical survey and novel resource on Indian Economic History, this book will be useful for undergraduate and postgraduate courses on Economic History, Indian and South Asian Studies, Economics and Comparative and Global History.