Economic Reform in India

On December 18-20, the NBER and India's National Council for Applied Economic Research (NCAER) again brought together a group of ten NBER economists and about two dozen economists from Indian universities, research institutions, and government departments to discuss the current economic scene in India. Raghuram G. Rajan, NBER and University of Chicago, organized the conference jointly with Subir Gokarn of NCAER.

The U.S. participants were: Kaushik Basu, Cornell University; Eli Berman, NBER and Boston University; Jagdish Bhagwati, NBER Director and Columbia University; Kathleen Cooper, NBER Director and Exxon Corporation; Mihir Desai, Martin Feldstein, Andrei Shleifer, and David Wise, NBER and Harvard University; Anne Krueger, NBER and Stanford University; Andrew Samwick, NBER and Dartmouth College; and Luigi Zingales, NBER and University of Chicago.

After introductory remarks by NBER President Feldstein and Rakesh Mohan of NCAER, the participants discussed: the world trade order; current issues in public finance; the concept of fiscal federalism; current issues in corporate finance; the analysis, management, and regulation of risk; corporate governance; and social security.