India's Foreign Trade a Study of Trends and Instability in the Post-Reform Period

In the decades prior to 1991, India followed a highly statist and interventionist development policies leading to a period of a severely distorted production structure. This culminated in too deep economic crises at the outset of the ninety nineties. Faced with a severe balance of payments crisis, India entered into an IMF influenced structural adjustment program. In addition to the conventional expenditure switching and reducing policies, as part of the IMF agreement, a range of far-reaching ec