My collection
of links on the transition at SEBI from C. B. Bhave to
U. K. Sinha.
How India's banks killed the future of
commerce on the Cleartrip blog.
The defining problem of the Indian State is the tension between
spending on program that benefit the few (e.g. the typical UPA
welfare program) versus programs that
benefit all (i.e. public goods). This problem even extends to
skimping on resources for the
judiciary. See Dhananjay
Mahapatra in the Times of India.
Greasing
our shock absorbers by Ila Patnaik in the Indian
Express, 3 February
2011. And watch
her talk about the economy.
There is quite a bit of debate in India about big government versus
small government. On this subject, Blanca Moreno-Dodson and Nihal
Bayraktar have a
note How
Public Spending Can Help You Grow: An Empirical Analysis for
Developing Countries. They compare a set of fast-growing
developing countries to a mix of developing countries with different
growth patterns. Considering the full government budget constraint,
the empirical analysis shows that public spending, especially its
`core' components, contributes to economic growth only in countries
that are capable of using funds for productive purposes. In
addition, those countries must have an adequate economic policy
environment with macroeconomic stability, openness, and private
sector investments that are conducive to growth. Unfortunately,
their definition of `productive and core sectors' reflects World
Bank ideology, and does not focus on public goods.
IT strategy
for the Goods and Services Tax.
A great
article on Saudi Arabia by Laurence Wright.
Tunisia and Egypt continue to be incredibly important and
riveting. I really enjoy the thought, however fatuous, about every
strongman across the world sleeping a little less
easy. See Why
Egypt should worry China by Barry Eichengreen on Project
Syndicate. On the East Asia
Forum, Peter
Beck tells the story about how the dictatorship collapsed in
Korea. Robert
L. Tignor on Project Syndicate locates the present discussion in
Egyptian history.
Read this
interview with Andreas Wesemann.
The wonderful world of Android: link, link.
Is
Your Job an Endangered Species? by Andy Kessler in the Wall
Street Journal.
Abrupt change in authoritarian
regimes: Gary
Becker, Richard
Posner.
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