In the 1987 World Bank study. India was categorized as having a strongly inward trade policy

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QUESTION:

In the 1987 World Bank study. India was categorized as having a strongly inward trade policy. Around 1990, it shifted to an outward-oriented policy. What is your prediction for India’s growth rate of income per capita since 1990? Do the data reported in Figure 14.1 support your prediction?


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