At the Foot of the Himalayas: India from the ‘Hindu Equilibrium’ to an Asian Regional Power?

  • Paolo Panico
  • Gianni Vaggi


In East Asia, 1997 will be remembered as the year of the financial crisis. After 30 years of very high growth rates, three ASEAN countries and South Korea plunged into deep economic crisis. This crisis overshadowed other events: the fiftieth anniversary of the independence of South Asia, or the partition of British India into two separate States: the republics of India and Pakistan, whose eastern part became Bangladesh in 1971. International attention remained focused on SA in 1998 due to the nuclear tests of India and Pakistan and the ensuing sanctions. These tensions notwithstanding, SA was the fastest growing region of the developing world after China. Its growth rate was 4.6 per cent in 1998 and it is expected to reach 5.5 per cent in 1999–2000 (World Bank News, 13 October 1998).


Central Government Current Account Real Exchange Rate Asian Regional Indian Economy 
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© Palgrave Macmillan, a division of Macmillan Publishers Limited 2000

Authors and Affiliations

  • Paolo Panico
  • Gianni Vaggi

There are no affiliations available

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