Watch the full video (above) of the discussion on ‘India's Economy in a Hole: Keep Digging?’ featuring Lant Pritchett and Ajay Shah, organised by the State Capacity Initiative at CPR.
Weak capability for implementation and beautiful rules create complex deals. Complex deals can create a rapidly growing economy, but at the same time prevent the move to rules. Hence, the paradox can be move to rules that can be good in the long run but bad in the short term, or move to deals that are good in the short term but not in the long run. This talk unpacked these relationships and dynamics in the context of the Indian economy and state capacity.
Lant Pritchett is a Senior Visiting Fellow at CPR.
Ajay Shah is a Professor at the National Institute of Public Finance and Policy.
The question and answer session that followed can be accessed here.