Research papers

Globalization Dilemmas and the Way Out. The Indian Journal of Industrial Relations. 2012;47 (3) :393-404.Abstract

The objective of international economic arrangements must be to attain the maximum amount of integration or the maximum thickness in economic transactions that are consistent with maintaining space for diversity in national institutions and the arrangements. The objective would be to create enough policy space to allow rich countries to rework their social compacts at home, poor countries to restructure and diversify their economies so that they can position themselves better to benefit from globalisation, and all nations, rich and poor alike, to establish financial systems and regulatory structures that are more attuned to their own needs. A better managed globalisation will be a better globalisation, argues the paper.

Unconditional Convergence. NBER Working Paper Series. 2011.Abstract

Unlike economies as a whole, manufacturing industries exhibit unconditional convergence in labor productivity.  The paper documents this finding for 4-digit manufacturing sectors for a large group of developed and developing countries over the period since 1990.  The coefficient of unconditional convergence is estimated quite precisely and is large, at 3.0-5.6 percent per year depending on the estimation horizon.  The result is robust to a large number of specification tests, and statistically highly significant. Because of data coverage, these findings should be as viewed as applying to the organized, formal parts of manufacturing.

Revised October 2011. Yes, it does exist, but you have to look for it in manufacturing industries.

Normalizing Industrial Policy. 2008.Abstract


The practical problems confronting industrial policy are no different from those in, say, education policy or macroeconomic policy. Commission on Growth and Development Working Paper No. 3, 2008.

Second-best Institutions, in American Economic Review: Papers & Proceedings. ; 2008.

If you think best-practice is the way to go in institutional reform, think again.