Few problems are as pressing and as existential for the world as climate change, and few have proven to be as intractable. Three decades of international negotiations on climate change have yielded little by way of action that would substantially slow, let alone reverse, human-caused climate change. Can things be different?
The G-20 meeting in Washington on 15 November is an opportunity for India to help shape the new global economic architecture in line with its strategic interests. India should propose short-term crisis response actions and suggest a clear medium-term agenda.
Using panel data for the fourteen major states of India over the 1980-2000 period, the authors estimate the effect of human capital endowment on the performance of the state economies. They find that greater availability of skilled workers had a positive and significant impact on output in the service sectors. They do not find any such effect for the manufacturing sectors. The paper shows that the differential effect on services and manufacturing arises because service sectors are more skill intensive.
