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Economics and Public Policy

(SME) School of Management and Entrepreneurship

Corporate Governance in India: Three Historical Models and their Development Impact

Journal of Business Ethics

Economic Reforms &amp; Corporate Governance in India

(sponsored by United Nations Development Program, Anti-Poverty Partnership Initiatives)

Fighting Urban Poverty, Workshop Report prepared as Chief Rapporteur Workshop on Fighting Urban Poverty in Central America, York University, Toronto

Book Review: Regionalism across the North/South Divide: State Strategies and Globalization

As suggested in Chapter 5, there is one central paradox that has come to characterise India’s corporate economy today. On the one hand, the regulatory framework through which the Indian state had historically managed accumulation stands dismantled. On the other hand, some highly problematic continuities with the interventionist era remain. For those of us who believe in history, perhaps such a paradox is to be expected; nonetheless, the importance of this paradox — of the coexistence of some elements of state intervention simultaneously with weak regulatory powers of the state — needs to be assessed carefully.

International Political Economy Series book series (IPES)

The Paradox of Profits: Some Tentative Conclusions

Gender Justice versus Religious Freedom in India: What Constitutions Can and Cannot Do

Human Security, Human Development &amp; Regional Collaboration: Towards A NewPartnership between Canada and South Asia, report on study commissioned by the South Asian Regional Program

In this chapter, I will explicate certain theoretical notions with respect to the corporate economy. Obviously, much of corporate theory as we know it today has evolved in the West, alongside the development of corporate capitalism. While the developmental dynamics in the developing world have been quite different, some of the basic institutional mechanisms of Western corporate capitalism have been imported to the developing world through the relationships of colonialism. As DiMaggio and Powell (1983) have argued, a colonial history produces a certain degree of institutional ‘mimicry’, whereby organisational forms adopted by post-colonial states come to reflect colonial structures. In any case, it is possible to argue that certain similarities characterise capitalisms of both worlds, at least to the extent that they both concern the accumulation of capital through the institution of the modern corporation. In both worlds, the corporation seems to have provided an enduring framework for the ownership and control of assets, the investment and accumulation of capital and the organisation of production.

Perspectives on the Indian Corporate Economy

Corporate Structures, Corporate Control, Corporate Power: Some Conceptual Explorations

In Chapter 3 I sketched the genesis and transformation of corporate capital in colonial India. In this chapter, I will attempt to develop a similar characterisation of capital in Independent India, spanning roughly the period 1950 to 1985. First, I will sketch the general context in which the interventionist model was adopted. Next, I shall discuss the principal structures of corporate governance associated with this model, looking at both the micro-level structures internal to the firm as well as the broader political-economic structures within which the firm was embedded. In the third section I will outline the nature of growth and corporate profitability that occurred as a result of the various governance structures specific to the period, and in the final section I will attempt to relate the discussion in the three sections to examine the relationship between the growth of the corporate sector and the overall growth and transformation of the Indian economy during this period.

Corporate Capitalism in Independent India: the Interventionist Model and its Contradictions

As suggested in Chapter 5, there is one central paradox that has come to characterise India’s corporate economy today. On the one hand, the regulatory framework through which the Indian state had historically managed accumulation stands dismantled. On the other hand, some highly problematic continuities with the interventionist era remain. For those of us who believe in history, perhaps such a paradox is to be expected; nonetheless, the importance of this paradox — of the coexistence of some elements of state intervention simultaneously with weak regulatory powers of the state — needs to be assessed carefully.

Perspectives on the Indian Corporate Economy

As this book goes to press, exactly ten years have passed since the economic reforms were formally launched in India. What was initiated as a response to a deep and intractable crisis exacerbated by ‘external’ pressures, has since evolved into a highly focused and coherent policy regime. This regime comprises three primary elements: a reduction in the role of the state, an enhancement of the market, and the development of a symbiotic relationship between domestic and global capital.

India in the Post-Interventionist Era: Towards a New Political-Economy?

As I pointed out in Chapter 1, my aim in this work is to develop an historical analysis of the Indian corporate economy. In particular, I wish to assess to what extent the specificity of Indian corporate capitalism can be used to explain the lack of sustained industrial growth, a phenomena that seems to plague India even today. Broadly speaking, two sets of reasons have been considered in the mainstream literature on development, particularly in the context of liberalisation and structural adjustment: the problems of labour productivity and of firm-level or corporate profitability. My focus here will be the latter, i.e., the problem of corporate profitability. Specifically, I will try to assess whether and to what extent low corporate profitability may have hindered industrial development in India. In this chapter I will examine these questions in the context of the colonial period, spanning roughly the years between 1914–1947.

Corporate Capital in Colonial India: Genesis, Structure and Transformation

In the previous chapters, I have attempted to delineate the contradictions of the Indian corporate economy as it existed until the eighties. The primary contradiction, I argued, was manifest in the fact that, despite considerable growth and expansion of the corporate economy, and fairly high levels of profitability, the effects of this growth were hardly evident on the rest of the economy. It is this contradiction that I take as the starting point for my discussion of the post-interventionist model. The thrust of my arguments can be summarised as follows.

Corporate Capitalism in Post-Interventionist India: Paradoxes and More

This paper commissioned for a project on human development the United Nations Office of Project Services (UNOPS), Rome, Italy

Rethinking Development as Knowledge: Implications for Human Development

SAARC (South Asian Association for Regional Cooperation) was founded in 1985 to promote a rather unique model of regionalism. On the one hand, SAARC sought to foster a dialogue between countries grappling with serious political differences resulting from 200 years of colonialism. On the other hand, the members wished to exclude from the jurisdiction of the Association these same political questions. The objective of the member countries was rather to develop links in the fields of culture, education and the economy in order to reduce these political differences, but without directly confronting them. Unfortunately, this approach has not led to closer political or economic ties between Member States, leading to some pessimism about the future of the organization. The 1990s, however, radically changed the trajectory of SAARC. The end of the Cold War and the redefinition of state-society relations within each member state seem to have created a structural need for an association such as SAARC. Moreover, in keeping with the contemporary global trend to attribute greater primacy to economics than to politics, the political differences among Association members seem to have gradually given way to a more active and effective SAARC. However, this new optimism for SAARC, based solely on the enthusiasm of economic actors, is also premature. In other words,

Journal of International Studies

SAARC: From Statism to Economism? (Note)

Historically, regional cooperation in South Asia has been fraught with problems. As a result, the South Asian Association for Regional Cooperation (SAARC) remained a somewhat defunct political organization since its inception in 1985. In the 1990s however, SAARC has gathered some momentum, due mainly to the forces of globalization and economic liberalization with many of the SAARC countries. Two particularly significant aspects of this development have been the formation of the World Trade Organization (WTO) and the rising vehemence of the Association of Southeast Asian Nations (ASEAN). This paper will examine these changes in the trajectory of SAARC, and, more generally, the problems and prospects of regional cooperation in South Asia. I will argue here that (a) the "new" regionalism in South Asia is almost entirely a product of the contradictions of globalization, which increases competition on the one hand, and the need for collaboration on the other; (b) institutional structures, in and of themselves, cannot generate solutions to problems that emanate out of historical processes and structures; and (c) feasible strategies for cooperation in South Asia require the mobilization of nonstate actors, especially firms and groups undertaking various social movements.

Journal Storage

Regionalization in South Asia: Theory and Praxis

JSTOR

Rationalizing Losses in the Indian Coal Industry: A Revaluation of Relative Responsibilities

Journal of Social and Economic Studies

Use of Child Labor in India: Dynamics of Obscurantism 1988

North-South Institute, Munk International Center, University of Toronto, April 21.