Turnpike to the dirt road?

When the end to investment and import licensing and substantial tariff reductions led to only modest acceleration in GDP and trade in the 1990s, critics derided the reforms for having made little difference. But that changed in the 2000s. Reinforced by major additional reforms in the late 1990s and early 2000s, growth of the GDP and trade saw a massive shift. Trade expanded so fast that despite a rapidly-rising GDP, they climbed from 27% of GDP in 1999-2000 to 56% in 2011-12.

Read Full Story>>