Archive for May 28th, 2012

Did India’s IT industry develop because of industrial policy?

May 28, 2012

Most of us believe Indian IT industry developed mainly because of absence of government intervention in its initial years. Infact some say government officials were clueless about this industry and as a result there were no policies to ruin the sector.

There is some nice debate on the point between WB econs.  Kalpana Kochhar points how Indian IT industry grew in absence of government intervention. Justin Lin disagrees. He points to a number of ways in which govt. policies  have led to promotion of the software industry.

What do others think on this super topic?

Well, if you look at it there are some similarities with the US story. Most believe US  software industry or Silicon valley is because of power of markets. However, later econs like Rodrik pointed the industry would not have existed without government investment in DARPA etc. So, the debate remains active and acrimonious in US as well..

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Facebook is a corporate dictatorship…

May 28, 2012

A fab interview by Aswath Damodaran on the  Facebook IPO debacle.  (Here is another Wharton article discussing the (de)famed IPO)

He has been dissecting the FB valuation for a while now on his super blog (each post is like a mini paper with so much to understand). As per him the value of FB was $29 per share and was obviously over-valued in the IPO. (He says this wasn’t valued but priced).

In this interview he pretty much discusses all he has been saying on FB IPO:

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India’s Slowdown May Have a Silver Lining??

May 28, 2012

IMF econs – Roberto Guimarães and Laura Papi – summarise the state of Indian economy.

They say Indian eco slowdown mainly because of investments which is pretty much known:

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Krugman interviews

May 28, 2012

There are three  of them.

One in FT and the second in Spiegel. Promoting his book and talking about failure of austerity in Europe.

Here is some nice stuff from FT:

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Politics of India’s Capital Market Reform…

May 28, 2012

John Echeverri-Gent of Virginia Univ (Politics Dept, is an India political eco expert) writes this interesting paper.

He ponders over this q on why India’s equity market developed so much but corporate bond markets still remains weak:

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