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Trade and PovertyWhen the Third World Fell Behind$
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Jeffrey G. Williamson

Print publication date: 2011

Print ISBN-13: 9780262015158

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015158.001.0001

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An Asian De-industrialization Illustration: An Indian Paradox?

An Asian De-industrialization Illustration: An Indian Paradox?

(p.75) 6 An Asian De-industrialization Illustration: An Indian Paradox?
Trade and Poverty

Jeffrey G. Williamson

The MIT Press

This chapter examines the Indian paradox of relatively dramatic de-industrialization with relatively modest terms of trade improvements. It argues that the economic woes India suffered following the dissolution of Mughal hegemony in the eighteenth century ultimately led to aggregate supply-side problems for Indian manufacturing, even if some producers in some regions benefited from the new order. India also suffered a profound secular deterioration in climate conditions in the century or so following the early 1700s, events that appear to have added greatly to the slump in agricultural productivity, to the rise in grain prices, to an increase in nominal wages, and thus to de-industrialization.

Keywords:   India, de-industrialization, trade, economic growth, manufacturing, Mughal hegemony

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