Politics, Institutions, Episodes: Concluding Observations

  • Sabyasachi Kar
  • Kunal Sen
Part of the Building a Sustainable Political Economy: SPERI Research & Policy book series (SPERIRP)


This chapter provides the conclusions of the book and discusses the wider implications of the book’s main findings. It highlights the three main arguments that define the political economy approach adopted in the book which are (i) medium-term growth rates of countries are volatile and episodic, (ii) the deals environment is a critical institutional arrangement that determines the outcome in growth episodes and (iii) politics plays a significant role in determining the deals environment. The chapter shows how these three linked arguments are substantiated by the four Indian growth episodes. Finally, it provides an international perspective to these issues.


Lessons Politics Institutions 


  1. Pritchett, L. and Hallward-Driemeier, M. (2015). ‘How Business is Done in the Developing World: Deals versus Rules’, Journal of Economic Perspectives, Vol. 29, No. 3, pp. 121–140.Google Scholar
  2. Pritchett, L., Sen, K. and Werker, E. (2016a). ‘Deals and Development: The Political Dynamics of Growth Episodes’, Oxford: Oxford University Press, forthcoming.Google Scholar
  3. Sen, K. (2013). ‘The Political Dynamics of Economic Growth’, World Development, Vol. 47, pp. 71–86.CrossRefGoogle Scholar

Copyright information

© The Author(s) 2016

Authors and Affiliations

  • Sabyasachi Kar
    • 1
  • Kunal Sen
    • 2
  1. 1.Institute of Economic GrowthUniversity of DelhiDelhiIndia
  2. 2.University of ManchesterManchesterUK

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