The Changing Political Economy of Federalism in India: A Historical Institutionalist Approach

Abstract

In July 1991 India's central government initiated economic policy reforms amounting to a quiet economic revolution—or, as noted by a commentator, “reform by stealth.”Policy regimes in the industrial, macroeconomic, and trade sectors were transformed slowly but surely. These policy changes have persisted in fits and starts, yet in 2002 there was talk of the onset of the “second generation of reforms.”