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India in a Globalising World   
India in a Globalising World


EDITORS : R. Radhakrishna, S.K. Rao, S. Mahendra Dev AND 
K. Subbarao

Published by Academic Foundation
in collaboration with
Centre for Economic and Social Studies (CESS), Hyderabad
Hard Bound Book   :   Pages : 528
2006  Edition         :   ISBN - 81-7188-516-0
Price : Rs. 995.00;  US $ 79.95
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Prof. C.H. Hanumantha Rao is one of India's most distinguished economists. He has contributed immensely to both research and policy making in India. As a token of gratitude, some academicians and policy makers decided to pay a tribute on his 75th birth anniversary by bringing out a volume containing research papers relating to few important themes on India in the context of globalising world. All the contributors to this volume have made important contributions in their respective fields. The themes included in this volume are presented in four sections.

The volume begins with Macro Issues in Development covering issues such as changing role of Reserve Bank of India, fiscal federalism, performance of firms, macro modeling, and governance. The next two themes are Issues in Agricultural Development and Equity and Emerging Institutions in Agricultural Development. These sections cover important issues relating to agriculture ranging from WTO and trade to small farmer development. It is known that Prof. Rao has extensively worked on agriculture and rural development in India. The last section is Poverty and Environment. The papers included in this section cover issues on poverty reduction, sustainable development and employment, and climate change.

At this stage of India's development, analysis of above issues is important for framing better policies to achieve growth and equity in India. Surely, the essays included in this volume would be quite useful for researchers, policymakers and students.

The book is organised into four sections, namely:

  • Macro Issues in Development 

  • Issues in Agricultural Development 

  • Equity and Emerging Institutions in Agricultural Development 

  • Poverty and Environment


R Radhakrishna: Director, Indira Gandhi Institute of Development Research, Mumbai.

S K Rao: Director General, Administrative Staff College of India, Hyderabad.

S Mahendra Dev: Director, Centre for Economic and Social Studies (CESS), Hyderabad.

K Subbarao: Consultant, The World Bank, Washington DC, and former professor at Institute of Economic Growth, Delhi.


List of Figures, Tables, Boxes and Annexures


Contributors to the Volume

Prof. C.H. Hanumantha Rao: A Tribute

Prof. C.H. Hanumantha Rao's Publications, Awards and Other Accomplishments

Introduction and Overview


Section I 
Macro Issues in Development


Economic Reforms and Changing Role of the Reserve Bank of India

Y.V. Reddy

Fiscal Federalism: Some Current Concerns

C. Rangarajan

Economics, Politics and Governance

Bimal Jalan

Perspectives on Macroeconomertric Models for India

K. Krishnamurty

Shocks and Long Run Growth in Agriculture: A Macroeconomic Analysis

B.B. Bhattacharya Sabyasachi Kar

Globalisation, Liberalisation and Performance of Firms: Emerging Trends from Literature

N.S. Siddharthan

Section II 
Issues in Agricultural Development


Indian Economic Strategies After Doha

Yoginder K. Alagh

Pro-Poor Growth-The Relation between Agricultural Growth and Poverty Reduction

John W. Mellor

Some Aspects of Total Factor Productivity in Indian Agriculture

K.L. Krishna

Section III 
Equity and Emerging Institutions in Agricultural Development


Agrarian Communities Across Asia: A Provisional Framework for Comparison

Yujiro Hayami

Agricultural Growth and Regional Variations

G.S. Bhalla

Trade Policies, Incentives, Investments and Institutions in Indian Agriculture

Ashok Gulati

Withdrawal of Subsidies from Irrigation and Fertiliser: Impact on Small and Marginal Farmers

Kanchan Chopra

Globalisation: Neo-Liberal Economic Policies and Small Farmer Development

Y.V. Krishna Rao

Changes in Agrarian Structure and Agricultural Technology: Is Peasant Farming Sustainable under Institutional Retrogression

D. Narasimha Reddy

Insuring Against Bad Weather: Recent Thinking

Peter Hazell Jerry Skees

Section IV 
Poverty and Environment


The Elusive Goal of Empowerment: A Review of the Emerging Phase in Poverty Reduction

V.M. Rao

Environment, Employment and Sustainable Development: Understanding the Linkages in India

Indira Hirway Piet Terhal

Climate Change and Its Abatement: Towards a Better Project Design

Gopal K. Kadekodi

Contributors to the Volume


Yoginder K. Alagh
Prof. Yoginder K. Alagh is currently Chancellor, Nagaland University and Vice-Chairman of Sardar Patel Institute of Economic and Social Research, Ahmedabad. He is a Trustee of the Rajiv Gandhi Foundation.

G.S. Bhalla
Currently Professor Emeritus, Centre for the Study of Regional Development, Jawaharlal Nehru University, New Delhi. He is a former Member of the Planning Commission, Government of India and former Chairman, Commission for Agricultural Costs and Prices, Ministry of Agriculture.

B.B. Bhattacharya
Prof. B.B. Bhattacharya has joined as the Vice-Chancellor of Jawaharlal Nehru University, New Delhi, in June 2005. Before that he was a Professor of Economics and Director of the Institute of Economic Growth, Delhi, a premier social science research and training institute in India.

Kanchan Chopra
Kanchan Chopra is Director, Institute of Economic Growth, Delhi. She also heads the Environmental and Resource Unit. In the last two decades, she has published extensively on issues at the interface of environment and development, in particular water and forest resource management and common property resources.

S. Mahendra Dev
Prof. S. Mahendra Dev is currently Director, Centre for Economic and Social Studies, Hyderabad. He did his Ph.D from the Delhi School of Economics and his Post-doctoral research at the Economic Growth Centre, Yale University and was faculty member at the Indira Gandhi Institute of Development Research, Mumbai for 11 years.

Ashok Gulati
Dr. Ashok Gulati, earlier Head of the NABARD Chair Unit at the Institute of Economic Growth, is presently the Director of International Food Policy Research Institute (IFPRI) in Washington, D.C., USA.

Yujiro Hayami
Yujiro Hayami is Chairman, FASID Graduate Program, Foundation for Advanced Studies in International Development, Tokyo, Japan. Professor Hayami received his B.A. in Liberal Arts from University of Tokyo, Japan (1956) and Ph.D. in Economics from Iowa State University, USA (1960).

Peter Hazell
Hazell is Director of Development Strategy and Governance at the International Food Policy Research Institute (IFPRI), Washington, D.C., USA.

Indira Hirway
Prof. Indira Hirway has been the Director of Centre for Development Alternatives, An Academic Research Centre at Ahmedabad. Her research studies have appeared in several research journals in India and abroad.

Bimal Jalan
Bimal Jalan, educated at Presidency College, Calcutta, and Cambridge and Oxford Universities, was nominated as a Member of Parliament (Rajya Sabha) by the President of India in August 2003 for distinguished public service. He was Governor of the Reserve Bank of India from 1997-2003.

Gopal K. Kadekodi
Currently Director of the Institute for Social and Economic Change, Bangalore. He has been Research Professor at the Centre for Multi-Disciplinary Development Research, Dharwad and a Professor at the Institute of Economic Growth, New Delhi.

Sabyasachi Kar
Sabyasachi Kar is a faculty at the Institute of Economic Growth, Delhi. His interests are in macroeconomics and development economics with particular focus on the Indian economy.

K.L. Krishna
Prof. K.L. Krishna got his Ph.D. from the University of Chicago in 1967. He was at the Delhi School of Economics for 42 years, 1958-2000, teaching and researching. His fields of specialisation have been Econometrics and Industrial Economics. He was President of the Indian Econometric Society for one year in the 1990s.

K. Krishnamurty
K. Krishnamurty had a long tenure as Professor, and for some years as Director, at the Institute of Economic Growth. Having held NLC Chair Professor, he is currently honorary Professor at the Administrative Staff College of India.

John W. Mellor
John W. Mellor is Vice-President of Abt Associates, a policy-consulting firm. Previously he was President of John Mellor Associates. He was the founding Director of the International Food Policy Research Institute; Chief Economist of USAID and Professor at Cornell University in Economics, Agricultural Economics, and Asian Studies.

R. Radhakrishna
Prof. R. Radhakrishna is the Director, Indira Gandhi Institute of Development Research (IGIDR) in Mumbai since March 2001. From April 1998 to March 2001, he was the Vice-Chancellor of Andhra University.

C. Rangarajan
Dr. C. Rangarajan is a leading economist of the country, who has played a key role both as an academician and a policymaker. He is currently Chairman, Economic Advisory Council to the Prime Minister. Prior to this, he was Chairman of the Twelfth Finance Commission. He was Governor of Andhra Pradesh between 1997 and 2003.

S.K. Rao
Dr. Rao was educated at Andhra and Cambridge Universities and taught Economics at the University of Cambridge and Jawaharlal Nehru University.

V.M. Rao
V.M. Rao is Honorary Visiting Fellow, Institute for Social and Economic Change, Bangalore. He is also associated with Indian School of Political Economy, Pune, and Public Affairs Foundation, Bangalore. He was earlier a faculty member in Department of Economics, University of Bombay and Institute for Social and Economic Change.

Y.V. Krishna Rao
Presently, he is the Director, Neelam Rajasekhara Reddy Research Centre, Hyderabad. Joined the National Movement for freedom in 1929. Joined the Communist Party of India in 1937. Working among the peasantry since more than 60 years.

D. Narasimha Reddy
D. Narasimha Reddy retired recently as Professor of Economics and Dean, School of Social Sciences, University of Hyderabad. His areas of interest include Political Economy of Development and Labour Economics.

Y.V. Reddy
Dr. Yaga V. Reddy is Governor, Reserve Bank of India since September 2003. He is also Alternate Governor of the International Monetary Fund. He earned his M.A. from Madras University and Ph.D from Osmania University. He holds a Diploma in Economic Planning from I.S.S., Netherlands. He was awarded Doctor of Letters (Honoris Causa) by Sri Ventakeswara University, Tirupati.

N.S. Siddharthan
N.S. Siddharthan, Ph.D., is Head, V.K.R.V. Rao Centre for Studies in Globalisation, Institute of Economic Growth, Delhi. He works in the areas of technology, multinationals, and globalisation.

Jerry Skees
Skees is the H.B. Price Professor of Agricultural Policy and Risk at the University of Kentucky. He is also president and founder of GlobalAgRisk, Inc.

K. Subbarao
Dr. K. Subbarao was until recently a lead economist in the Africa Region of the World Bank, responsible for research and operations in social protection, poverty and vulnerability. He is currently a consultant on safety nets and social protection for the South Region of the Bank.

Piet Terhal
Dr. Piet Terhal (1935) worked closely with the late Prof. Jan Tinbergen, among other subjects on the economics of conflict and peace. He taught development planning and was Director of the Centre for Development Planning at Erasmus University Rotterdam

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