Governance, democracy and economic adjustment in India: conceptual and empirical problems.

This article discusses governance, democracy and economic adjustment in India. The first part of the paper will focus on the evolution of the role of the World Bank and the International Monetary Fund (IMF) from an international lending institution to a supervisor and facilitator of good governance. The second part of the paper explores the relationship between democracy and economic development in India and illustrates how the World Bank and the IMF have performed a consultative and supervisory role in overseeing the implementation of structural adjustment and stabilization in India during the 1990s. It will also show that a more overtly disciplinary role has been exercised by the World Bank in environmental and resettlement policy, and in trade and intellectual property by the U.S. government and the World Trade Organization