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Globalizing India

Globalizing India. Dev Nathan Institute for Human Development New Delhi Duke University, USA. Why Economic Growth?. For itself? As means to human development ? Two measures Economic development – GDP or GDP per capita Human development – HDI

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Globalizing India

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  1. Globalizing India Dev Nathan Institute for Human Development New Delhi Duke University, USA

  2. Why Economic Growth? • For itself? • As means to human development? • Two measures • Economic development – GDP or GDP per capita • Human development – HDI • Is there a relation between GDP (GNI) and HDI?

  3. HDI Three components of HDI • Income • Educational attainment • Health /nutrition status Is there a relation between income (GDP) and human development (HDI)? • As component • As instrumental variable

  4. GNI and HDI • Low HDI – Avg. 0.456 • High elasticity of HDI with respect to GNI (>1) • Medium HDI – Avg. 0.630 • Medium elasticity (0.75 to < 1) • High HDI – Avg. 0.741 • Low elasticity (between 0.50 to 0.75) • Very High HDI – Avg. 0.889 • Very low elasticity

  5. HDI of Regions • Arab States - 0.641 • East Asia and the Pacific - 0.671 • Europe and Central Asia - 0.751 • LA and C - 0.731 • South Asia - 0.548 • Sub-Saharan Africa - 0.463 • LDCs - 0.439

  6. Does we need economic growth for human development? • Distinguish between countries at different HDI levels • Need for growth falls with increase in HDI • Our need for growth as instrumental to human development is different from the need of capital to grow

  7. Structure of world economy • Developing economies – middle to low income, including emerging economies • Developed economies – high income • Asia, Africa and Latin America • Market of about $12 trillion, or 36 percent of global gross domestic product in 2012, up from 10 percent in 1980

  8. Projected Income for India by OECD

  9. Size of economies • GDP - per capita income and population size • With population more than thrice that of USA, at one-third the per capita income, the Chinese and Indian economies will be larger than that of the US • In PPP terms even earlier

  10. Growing Openness of the Indian Economy?

  11. Key External Debt Indicators

  12. India: Poverty Ratio among Social Groups, 1993-94, 2004-05 and projected to 2015-16

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