Many commentators give at least partial credit for India's economic success to the political institutions left in place by British colonialism. Fareed Zakaria, for instance, believes India "got very lucky" in that its first generation of post-independence leaders "nurture the best traditions of the British" including "courts, universities [and] administrative agencies." But a new study by Lakshmi Iyer of the Harvard Business School casts some doubt on whether British governing institutions really has a postivie economic impact in the long run. Here's the abstract: Read the story here.
