Finance & Development

I'm professor of international political economy at Harvard Kennedy School and also co-direct the Reimagining the Economy program, where we're looking at how to promote productive structural transformation in a more inclusive manner around the world.

Danny Roderick is also a co-author, along with Gordon Hanson and Rohan Sandhu, of an article titled Rethinking Development, published in the September edition of Finance and Development magazine.

Alright, so I'd like to start out here with something that comes up actually at the end of your F&D article and that is this idea that the bulk of jobs in developing economies are in the non-traded services sector and Any development plan that doesn't consider that reality is in trouble.

So is development's shortcomings over the last few decades been about failing to recognize the importance of that sector? Or is it more about the approach that it's taken to try and support it?

So why is that? I mean, what's so different about China's non-traded services sector?

It's not actually.

I think the reason that we left China out in that chart, in that table, in the finance and development article, is because it's still a large country that I think would dominate the numbers.

What is happening in China is actually not... that different from what's happening in the rest of the world.

Before that, I will list for you three readings.

One is a paper in the forthcoming edition of the IMF quarterly F&D, that is Finance and Development, and this is a paper by former highly respected RBI Governor Duvvuri Subba Rao, who's g- asking if India's growth is sustainable.

Can India maintain this? Second is column by Bidisha Bhattacharya on The Print, and the third is an editorial from Business Standard, which tells you about the growth but also underlines some of these problems.

At which point I shall turn to Dr. Anantha Nageswaran in New York.

So to understand the world, we really do need to know what's going on there.

Krishna has written a really interesting piece on Asia's new growth challenge that's published in the latest issue of Finance and Development magazine, which focuses on Asia.

So you can find his article along with many other articles by going to imf.org. Krishna, welcome to the podcast.

Thank you, Bruce.

So interesting.

Krishna Srinivasan, director of the Asia Pacific Department at the IMF.

You can find his piece on Asia's new growth challenge in the latest issue of Finance and Development magazine.

You can go to imf.org slash FND.