On the 2008 Foote Lecturer:
T. N. Srinivasan is Samuel C. Park, Jr. Professor of Economics and Professor in International and Area Studies at Yale University. Formerly a Professor, and later Research Professor, at the Indian Statistical Institute, Delhi (1964-1977), he has taught at numerous universities in the US. His research interests include the Indian Economy, International Trade, Development, Agricultural Economics and Microeconomic Theory. He has published extensively in these areas. His most recent book on India was Reintegrating India with the World Economy with Suresh D. Tendulkar in 2003.
He is a Foreign Associate of the National Academy of Sciences and Fellow of the American Philosophical Society, the Econometric Society and the American Academy of Arts and Sciences. He was named Distinguished Fellow of the American Economic Association in 2003 and was awarded the Padma Bhushan, the third highest civilian award of the Government of India in 2007. In 1975 he was awarded the Mahalanobis Memorial Medal (International Award) of the Indian Econometric Society.
The lecture will trace the saga of the decline of China and India since the industrial revolution and their remarkable resurgence since the 1980s. The main thrust of the lecture will demonstrate the strong association of the resurgence with policy reform in both countries that led to a greater role of markets in the domestic economy and their greater integration with the global economy. Not only was a downward trend in poverty associated with the acceleration in GDP growth in the post-1980 period, but, during the 1950-80 period when both economies were insulated from the world economy and were state directed, growth was very modest in both and there was no reduction in poverty.
The lecture will also analyze the similarities and important differences between the development strategies and policies of the two. It will conclude with brief remarks on the assertion of both, of their resurgence in the global polity.
Lecture Copy (click here)