Research Article
BibTex RIS Cite
Year 2020, Volume: 3 Issue: 2, 22 - 30, 28.12.2020

Abstract

References

  • The Economic Times (2020, January 20). IMF cuts India's FY20 growth forecast to 4.8%. Retrieved in June 7, 2020 from: https://economictimes.indiatimes.com/news/economy/indicators/imf-cuts-indias-fy20-gdp-growth-forecast-to-4-8/articleshow/73435183.cms?from=mdr
  • The Gazette of India (2019). The citizenship (amendment) act. Retrieved June 22, 2020 from http://egazette.nic.in/WriteReadData/2019/214646.pdf
  • Agarwala, R. (2017). Demonetization: A means to an End? New Delhi: SAGE Publications India Pvt Limited.
  • Aghion, P., & Durlauf, S. (2006). Handbook of Economic Growth. North Holland.
  • Ahluwalia, M.S. (2015). Role of economists in policy-making. UNU WIDER.
  • Banerjee, A.V., & Duflo, E. (2019). Good Economics for Hard Times. New Delhi: Juggernaut Books.
  • BBC (2019, May 31). India loses place as world's fastest-growing economy. Retrieved June 22, 2020, from https://www.bbc.com/news/business-48478028 Census (2011). Office of the Registrar General & Census Commissioner, India. Retrieved from https://censusindia.gov.in/2011-common/censusdata2011.html
  • Chodorow-Reich, G., Gopinath, G., Mishra, P., & Narayanan, A.A. (2019). Cash and the economy: Evidence from India's demonetization. Quarterly Journal of Economics 135(1), 57-103.
  • Choudhary (2020, February 10). Amit Malviya: How the ringmaster of BJP's propaganda machinery weaponises misinformation. Retrieved June 18, 2020, from https://www.altnews.in/amit-malviya-how-ringmaster-of-bjps-propaganda-machinery-weaponises-misinformation/
  • Coates, T.-N. (2017). We Were Eight Years in Power: An American Tragedy. Random House Publishing Group.
  • Deccan Herald. (2020, February 28). government focusing more on political, social agenda than economy: Raghuram Rajan. Retrieved June 26, 2020, from https://www.deccanherald.com/business/economy-business/government-focusing-more-on-political-social-agenda-than-economy-raghuram-rajan-809111.html
  • Democracy Index 2019. The Economist.
  • Diamond, L. (2011). The impact of the economic crisis: why democracies survive. Journal of Democracy 22(1), 17-30.
  • Economic Times (2016, November 30). Demonetisation to benefit economy in long run, says Arvind Panagariya. Retrieved June 24, 2020, from https://economictimes.indiatimes.com/news/economy/policy/demonetisation-to-benefit-economy-in-long-run-says-arvind-panagariya/articleshow/55704656.cms
  • Financial Express (2020, February 1). Budget 2020 expectations for India's healthcare sector. Retrieved June 21, 2020, from https://www.financialexpress.com/budget/budget-2020-expectations-for-indias-healthcare-sector/1842519/
  • Garg, L. (2016, SEP 21). If India Wants to Remain Secular, the New Citizenship Bill Isn't the Way to Go. The Wire. Retrieved June 24, 2020, from https://thewire.in/communalism/citizenship-amendment-bill-2016
  • Higgs, R. (2018). Ideology and Political Divisiveness. The Independent Review, 638-640.
  • Hope, M. (2019). The economic impact of Brexit on London. London: Greater London Authority.
  • IMD (2019). World Competitiveness Ranking 2019.
  • IMF (2019). Real GDP growth Annual percent change. Retrieved June 26, 2020, from https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLD
  • Jha, P. (2020, January 03). Identifying illegal migrants through NRC process will be cumbersome, costs far outweigh benefits. Indian Express. Retrieved June 24, 2020, from https://indianexpress.com/article/opinion/columns/nrcs-cost-benefit-analysis-caa-protests-6197030/
  • Keynes, J. (1924). Tract on Monetary Reform. London: Macmillan.
  • Kiss, Á. (2012). Divisive politics and accountability. European Journal of Political Economy 28(2), 208-214.
  • Lundborg, P., Nystedt, P., & Rooth, D.-O. (2014). Body size, skills, and income:Evidence from 150,000 teenage siblings. Demography 51(5), 1573-1596 .
  • Malik, S. (2018). Post-Brexit Scenario: The European Union under Threat. Institute of Strategic Studies Islamabad.
  • Mindo Jr, P. T. (2017). Obamacare and the fight against income inequality. Undergraduate Economic Review 13(1), 19.
  • Modi, N. (2016). PM Modi's 2016 demonetisation speech that shocked India. Business Standard. Retrieved from https://www.business-standard.com/article/economy-policy/full-text-pm-modi-s-2016-demonetisation-speech-that-shocked-india-117110800188_1.html
  • Roth, K. (2017). The dangerous rise of populism: global attacks on human rights values. Journal of International Affairs, 79-84. Retrieved September 26, 2020, from http://www.jstor.org/stable/44842604
  • van Reenen, J. (2016). Brexit’s long-run effects on the UK economy. Brookings Papers on Economic Activity, 367-383.
  • Sardesai, R. ( 2014). The Election That Changed India. Gurgaon India: Penguin Books India.
  • Sen, A. (1999). Freedom As Development. Oxford University Press.
  • Statista (2016, October). Ad spend per person in the US 2015-2020. Statista. Retrieved June 21, 2020, from https://www.statista.com/statistics/309732/ad-spend-per-person-usa/#:~:text=The%20timeline%20shows%20data%20on,725.75%20U.S.%20dollars%20in%202020.
  • Statista (2019, March). Markets contributing the most to global advertising spending between 2018 and 2021. Statista. Retrieved June 21, 2020, from https://www.statista.com/statistics/278729/advertising-markets-with-largest-ad-spend-growth/
  • Stein, H.F., & Allcorn, S. (2018). A fateful convergence: Animosity toward Obamacare, hatred of obama, the rise of Donald Trump, and overt racism in America. Journal of Psychohistory 45(4), 234-243.
  • Sutter, D. (2016). The political economy of medicaid expansion: Federalism, interest groups, and the aca. Mercatus Working Paper.
  • Tharoor, I. (2020). Democracy is in decline around the world — and Trump is part of the problem. The Washing Post.
  • The Indian Express (2019, August). Demonetisation a disaster of 2016: P Chidambaram. Retrieved June 22, 2020, from https://indianexpress.com/article/india/demonetisation-a-disaster-of-2016-p-chidambaram-4543710/
  • Trump, D. (2017). Affordable care act under the Trump administration. Ballotpedia. Retrieved June 22, 2020, from https://ballotpedia.org/Affordable_Care_Act_under_the_Trump_administration
  • Wilkinson, R., & Pickett, K. (2010). The Spirit Level: Why Greater Equality Makes Societies Stronger. United States: Bloomsbury Press.
  • World Bank . (2011). Poverty & Equity Data Portal. Retrieved from http://povertydata.worldbank.org/poverty/country/IND
  • World Bank. (2018). Gross Domestic Product. Retrieved June 7, 2020, from https://databank.worldbank.org/data/download/GDP.pdf
  • World Economic Outlook (2020, January). Retrieved June 7, 2020, from https://www.imf.org/en/Publications/WEO/Issues/2020/01/20/weo-update-january2020#:~:text=In%20the%20United%20States%2C%20growth,compared%20to%20the%20October%20WEO)

Divisive politics and economic development

Year 2020, Volume: 3 Issue: 2, 22 - 30, 28.12.2020

Abstract

In this paper, we analyze the rise of divisive politics, falling democracies, and rising populism all around the globe and the threat it poses to economic development. Precisely, we could estimate and analyze the economic cost and consequences of state-sponsored propaganda. We could also negate and refute the Lee Thesis and its unique claim to economic development with naught democracy and espoused the Sen’s idea of strong democracy for economic development. Furthermore, we could also critically analyze how the ideologically induced policies are influencing the economic activities and acting as a hindrance to inclusive socio-economic development. Finally, through rigorous evidence and statistics, we could successfully conclude that divisive politics is undermining economic development and governments should eschew themselves from disseminating it.

References

  • The Economic Times (2020, January 20). IMF cuts India's FY20 growth forecast to 4.8%. Retrieved in June 7, 2020 from: https://economictimes.indiatimes.com/news/economy/indicators/imf-cuts-indias-fy20-gdp-growth-forecast-to-4-8/articleshow/73435183.cms?from=mdr
  • The Gazette of India (2019). The citizenship (amendment) act. Retrieved June 22, 2020 from http://egazette.nic.in/WriteReadData/2019/214646.pdf
  • Agarwala, R. (2017). Demonetization: A means to an End? New Delhi: SAGE Publications India Pvt Limited.
  • Aghion, P., & Durlauf, S. (2006). Handbook of Economic Growth. North Holland.
  • Ahluwalia, M.S. (2015). Role of economists in policy-making. UNU WIDER.
  • Banerjee, A.V., & Duflo, E. (2019). Good Economics for Hard Times. New Delhi: Juggernaut Books.
  • BBC (2019, May 31). India loses place as world's fastest-growing economy. Retrieved June 22, 2020, from https://www.bbc.com/news/business-48478028 Census (2011). Office of the Registrar General & Census Commissioner, India. Retrieved from https://censusindia.gov.in/2011-common/censusdata2011.html
  • Chodorow-Reich, G., Gopinath, G., Mishra, P., & Narayanan, A.A. (2019). Cash and the economy: Evidence from India's demonetization. Quarterly Journal of Economics 135(1), 57-103.
  • Choudhary (2020, February 10). Amit Malviya: How the ringmaster of BJP's propaganda machinery weaponises misinformation. Retrieved June 18, 2020, from https://www.altnews.in/amit-malviya-how-ringmaster-of-bjps-propaganda-machinery-weaponises-misinformation/
  • Coates, T.-N. (2017). We Were Eight Years in Power: An American Tragedy. Random House Publishing Group.
  • Deccan Herald. (2020, February 28). government focusing more on political, social agenda than economy: Raghuram Rajan. Retrieved June 26, 2020, from https://www.deccanherald.com/business/economy-business/government-focusing-more-on-political-social-agenda-than-economy-raghuram-rajan-809111.html
  • Democracy Index 2019. The Economist.
  • Diamond, L. (2011). The impact of the economic crisis: why democracies survive. Journal of Democracy 22(1), 17-30.
  • Economic Times (2016, November 30). Demonetisation to benefit economy in long run, says Arvind Panagariya. Retrieved June 24, 2020, from https://economictimes.indiatimes.com/news/economy/policy/demonetisation-to-benefit-economy-in-long-run-says-arvind-panagariya/articleshow/55704656.cms
  • Financial Express (2020, February 1). Budget 2020 expectations for India's healthcare sector. Retrieved June 21, 2020, from https://www.financialexpress.com/budget/budget-2020-expectations-for-indias-healthcare-sector/1842519/
  • Garg, L. (2016, SEP 21). If India Wants to Remain Secular, the New Citizenship Bill Isn't the Way to Go. The Wire. Retrieved June 24, 2020, from https://thewire.in/communalism/citizenship-amendment-bill-2016
  • Higgs, R. (2018). Ideology and Political Divisiveness. The Independent Review, 638-640.
  • Hope, M. (2019). The economic impact of Brexit on London. London: Greater London Authority.
  • IMD (2019). World Competitiveness Ranking 2019.
  • IMF (2019). Real GDP growth Annual percent change. Retrieved June 26, 2020, from https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLD
  • Jha, P. (2020, January 03). Identifying illegal migrants through NRC process will be cumbersome, costs far outweigh benefits. Indian Express. Retrieved June 24, 2020, from https://indianexpress.com/article/opinion/columns/nrcs-cost-benefit-analysis-caa-protests-6197030/
  • Keynes, J. (1924). Tract on Monetary Reform. London: Macmillan.
  • Kiss, Á. (2012). Divisive politics and accountability. European Journal of Political Economy 28(2), 208-214.
  • Lundborg, P., Nystedt, P., & Rooth, D.-O. (2014). Body size, skills, and income:Evidence from 150,000 teenage siblings. Demography 51(5), 1573-1596 .
  • Malik, S. (2018). Post-Brexit Scenario: The European Union under Threat. Institute of Strategic Studies Islamabad.
  • Mindo Jr, P. T. (2017). Obamacare and the fight against income inequality. Undergraduate Economic Review 13(1), 19.
  • Modi, N. (2016). PM Modi's 2016 demonetisation speech that shocked India. Business Standard. Retrieved from https://www.business-standard.com/article/economy-policy/full-text-pm-modi-s-2016-demonetisation-speech-that-shocked-india-117110800188_1.html
  • Roth, K. (2017). The dangerous rise of populism: global attacks on human rights values. Journal of International Affairs, 79-84. Retrieved September 26, 2020, from http://www.jstor.org/stable/44842604
  • van Reenen, J. (2016). Brexit’s long-run effects on the UK economy. Brookings Papers on Economic Activity, 367-383.
  • Sardesai, R. ( 2014). The Election That Changed India. Gurgaon India: Penguin Books India.
  • Sen, A. (1999). Freedom As Development. Oxford University Press.
  • Statista (2016, October). Ad spend per person in the US 2015-2020. Statista. Retrieved June 21, 2020, from https://www.statista.com/statistics/309732/ad-spend-per-person-usa/#:~:text=The%20timeline%20shows%20data%20on,725.75%20U.S.%20dollars%20in%202020.
  • Statista (2019, March). Markets contributing the most to global advertising spending between 2018 and 2021. Statista. Retrieved June 21, 2020, from https://www.statista.com/statistics/278729/advertising-markets-with-largest-ad-spend-growth/
  • Stein, H.F., & Allcorn, S. (2018). A fateful convergence: Animosity toward Obamacare, hatred of obama, the rise of Donald Trump, and overt racism in America. Journal of Psychohistory 45(4), 234-243.
  • Sutter, D. (2016). The political economy of medicaid expansion: Federalism, interest groups, and the aca. Mercatus Working Paper.
  • Tharoor, I. (2020). Democracy is in decline around the world — and Trump is part of the problem. The Washing Post.
  • The Indian Express (2019, August). Demonetisation a disaster of 2016: P Chidambaram. Retrieved June 22, 2020, from https://indianexpress.com/article/india/demonetisation-a-disaster-of-2016-p-chidambaram-4543710/
  • Trump, D. (2017). Affordable care act under the Trump administration. Ballotpedia. Retrieved June 22, 2020, from https://ballotpedia.org/Affordable_Care_Act_under_the_Trump_administration
  • Wilkinson, R., & Pickett, K. (2010). The Spirit Level: Why Greater Equality Makes Societies Stronger. United States: Bloomsbury Press.
  • World Bank . (2011). Poverty & Equity Data Portal. Retrieved from http://povertydata.worldbank.org/poverty/country/IND
  • World Bank. (2018). Gross Domestic Product. Retrieved June 7, 2020, from https://databank.worldbank.org/data/download/GDP.pdf
  • World Economic Outlook (2020, January). Retrieved June 7, 2020, from https://www.imf.org/en/Publications/WEO/Issues/2020/01/20/weo-update-january2020#:~:text=In%20the%20United%20States%2C%20growth,compared%20to%20the%20October%20WEO)
There are 42 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Research Articles
Authors

Osama Shaikh 0000-0002-9873-8040

Publication Date December 28, 2020
Submission Date June 28, 2020
Published in Issue Year 2020 Volume: 3 Issue: 2

Cite

APA Shaikh, O. (2020). Divisive politics and economic development. Journal of Politics Economy and Management, 3(2), 22-30.

The author(s) is (are) the sole responsible for the opinion and views stated in the articles.

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.