How India's License Raj Ended: The Missing Middle & Economic Boom

Описание: In 1991, India abolished its infamous License Raj. Did it create a level playing field? This video breaks down a landmark study on deregulation, misallocation, and firm size. The shocking finding: while small businesses exploded and big companies got bigger, the middle class of firms vanished. Discover how removing one policy created both winners and a 'missing middle,' and what it means for economic growth. Author: The study is based on the NBER working paper by researchers including Chang-Tai Hsieh, focusing on India's industrial reforms.