I’m toying with the idea of starting an outsourcing carnival — the blog equivalent of a “special issue” dedicated to a particular theme. If you’re interested let me know.
Whilst surfing the blogs to see what kind of info is out there, I came upon some interesting articles. The Indian Economy Blog posted a link and synopsis of an IMF Paper on India’s Pattern of Development. Not surprising, strong regulation can both help and hurt a developing economy, molding it in unexpected ways. Their post “Rule Of Law In India And Its Economic Implications” gives another good top-down view of government factors that influence development.
Read Wolfgang Koehling’s study on Economic Consequences of a Weak Judiciary: Insights from India for an elaborate study. An user-friendly abstract is stated below.
“This paper examines the empirical relationship between the quality of the Indian judiciary and the economic development of the Indian States and Union Territories…The data indicate that a weak judiciary has a negative effect on economic and social development, which leads to: (i) lower per capita income; (ii) higher poverty rates; (iii) lower private economic activity, (iv) poorer public infrastructure; and, (v) higher crime rates and more industrial riots. The results are robust and the correlations are strong and negative.”