Bretton Goods

Ep 44: Trade Policy Tragedy in India

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I talked to Anupam Manur, a professor of economics about India's trade policy before 1991. We talked about:

  • The scarcity mindset about foreign exchange reserves
  • The controversial 1966 devaluation
  • How did the pre-1991 import licensing system work?
  • “The financial account was almost non existent”
  • “Hindustan Motors and Toyota were set up at the same time but in 15 years Toyota sold 280 times the cars”
  • “Productivity growth was almost absent before 1991”
    • ...more
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    Bretton GoodsBy Pradyumna Prasad
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