摘要
No matter which economic theory one applies,India would significantly outperform China in economic development.India enjoys many institutional and economic“privileges”that standard economic theories take as essential for economic development but are missing in China.For example,India is the world’s largest democracy with general elections,has a strong protection of private property rights,a long tradition of the British legal system inherited from the colonial era,English as an official language and a large Western educated elite class.In India,not only is land privately owned and can be traded freely in the market.
