PRADEEP AGRAWAL is Professor of Economics and heads the Reserve Bank of India Endowment Unit at the Institute of Economic Growth, Delhi. He holds a PhD in economics from Stanford University. His areas of research interest include macroeconomics, development, and Econometrics. He has published in several professional international and national journals in these areas.SUBIR V. GOKARN has been a member of the faculty at the IGIDR since 1990. His research interests cover industrial economics, financial economics and political economy. He was awarded a Fulbright Research Fellowship in 1997, during which he visited the Economic Growth Center at Yale University.VEENA MISHRA is Associate Professor at the IGIDR. She received her master's degree in economics from the Delhi School of Economics, University of Delhi, and her PhD degree from the University of Western Ontario.KIRIT S. PARIKH is Founder Director of the IGIDR. Among his many publications are Planning for Growth: Multisectoral, Intertemporal Model Applied to India (with Richard Eckaus), Energy: Second India Study, Linked National Models: A Tool for International Food Policy Analysis (with G.Fischer, K. Frohberg and M.A. Keyzer), Agriculture, Growth and Redistribution of Income: Policy Analysis with General Equilibrium Model of India (with N.S.S. Narayana and T.N. Srinivasan), India Development Report 1997 (edited) and Accounting and Valuation of Environment (with Jyoti Parikh).KUNAL SEN is lecturer in Economics, Massey University, New Zealand. His areas of research interest are macroeconomics and international economics. He has published papers in the Journal of Development Economics, Journal of Policy Modelling and the Journal of Quantitative Economics.

• List of Tables List of Figures Acknowledgements List of Abbreviations Notes on Research Institutions Introduction The Fundamentals: Macroeconomic Environment, Savings, Investment and the Financial Sector The Fundamentals: Labour Markets and Human Resource Development Measures of Competitiveness Selective Policies: Instruments, Outcomes and Institutional Contexts Conclusions Bibliography Index