Emerging Giants

China and India in the World Economy

Edited by Barry Eichengreen, Poonam Gupta, and Rajiv Kumar

Comprehensive overview of the rapid growth and development of China and India and their relationship with the world economy
Includes contributions from leading names in the field
Compares the contrasting development experiences of China and India and the challenges they face to sustaining growth.

Emerging Giants

China and India in the World Economy

Edited by Barry Eichengreen, Poonam Gupta, and Rajiv Kumar

Description

China and India are the two most populous countries in the world and now also two of the fastest growing. By sheer virtue of the fact that China and India are home to 2.4 billion people - two-fifths of the world's population - the rapid growth of their economies has far-reaching implications not just for global living standards and poverty reduction but also for competitiveness and distribution of income in the rest of the world. Commensurate with their economic progress, there has been a surge of interest in the nature and implications of China and India's economic growth.

There are several apparent similarities in the development process of China and India: both are home to ancient civilizations that have bequeathed distinctive attitudes, institutions, and traditions. Both have very large populations. Both have performed well economically for more than two decades. However there are important differences that can be seen beneath the surface. China started the current reform process in 1978 - that is, almost fifteen years before India. The two countries have very different political systems. Their development models differ fundamentally as well. China has opened up much more than India to foreign trade and foreign direct investment, while India has a better developed banking system. Growth in the two countries has been driven by different sectors - Chinese growth by manufacturing and Indian growth by services.

This volume brings together some of the best research on issues related to the growth experience of China and India and places these issues in a comparative perspective. It contains papers written by some of the leading academic and experts in the world on issues ranging from the roles of China and India in the world economy, contrasts in their development experience, and challenges to sustaining growth.

Emerging Giants

China and India in the World Economy

Edited by Barry Eichengreen, Poonam Gupta, and Rajiv Kumar

Part 1: China and India in the Global Economy
1:What can be Learned about the Economies of China and India from Purchasing Power Comparisons?, Alan Heston
2:Trading with Asia's Giants, Barry Bosworth, Susan Collins, and Aaron Flaaen
3:The Chinese Export Bundles: Patterns, Puzzles and Possible Explanations, Zhi Wang and Shang-Jin Wei
Part 2: Contrasts in Development Experience
4:The Cost Competitiveness of Manufacturing in China and India: An Industry and Regional Perspective, Bart Van Ark, Abdul Azeez Erumban, Vivian Chen, and Utsav Kumar
5:Law, Institutions and Finance in China and India, Franklin Allen, Rajesh Chakrabarti, Sankar De, Jun Qian, and Meijun Qian
6:China and India: A Tale of Two Trade Integration Approaches, Przemek Kowalski
Part 3: Challenges to Sustaining Growth
7:China's Growth Model: Choices and Consequences, Eswar Prasad
8:Deconstructing China's and India's Growth: The Role of Financial Policies, Jahangir Aziz
9:Pollution across Chinese Provinces, Catherine Y. Co, Fanying Kong, and Shuangling Lin
10:Employment and Growth in Indian Manufacturing Post Reform, Poonam Gupta, Rana Hasan, and Utsav Kumar

Emerging Giants

China and India in the World Economy

Edited by Barry Eichengreen, Poonam Gupta, and Rajiv Kumar

Author Information

Edited by Barry Eichengreen, Professor of Economics and Political Science, University of California, Berkeley, Poonam Gupta, Department of Economics, Delhi School of Economics, and Rajiv Kumar, Director and Chief Executive of the Indian Council for Research on International Economic Relations

www.econ.berkeley.edu/~eichengr/
www.econdse.org/faculty/poonam/poonam.htm
icrier.org/about/rajiv_profile.html

Contributors:

Franklin Allen, The Wharton School, University of Pennsylvania
Bart van Ark, The Conference Board; University of Groningen
Jahangir Aziz, Asia and Pacific Department, the International Monetary Fund
Barry Bosworth, The Brookings Institution
Rajesh Chakrabarti, Indian School of Business, Hyderabad
Vivian Chen, The Conference Board
Catherine Y. Co, Department of Economics, University of Nebraska at Omaha
Susan Collins, The Brookings Institution and the University of Michigan
Sankar De, Centre for Analytical Finance, Indian School of Business, Hyderabad
Abdul Azeez Erumban, University of Groningen
Aaron Flaaen, The Brookings Institution
Poonam Gupta, Department of Economics, Delhi School of Economics
Rana Hasan, Asian Development Bank
Alan Heston, University of Pennsylvania
Fanying Kong, Department of Sociology, Midland Lutheran College, Fremont
Przemek Kowalski, Organization for Economic Co-operation and Development
Utsav Kumar, The Conference Board, New York
Shuangling Lin, Department of Economics, University of Nebraska at Omaha
School of Economics, Peking University, Beijing
Eswar Prasad, Department of Applied Economics and Management, Cornell University
Jun "QJ " Qian, Carroll School of Management, Boston College
Meijun Qian, NUS Business School, National University of Singapore
Zhi Wang, Office of Economics, United States International Trade Commission
Shang-Jin Wei, Graduate School of Business, Columbia University