02217cas a2200265 a 4500 AALejournalIMF006974 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455211869 1018-5941 BD-DhAAL BD-DhAAL Walton, Michael. Sources of Corporate Profits in India : Business Dynamism or Advantages of Entrenchment? / Michael Walton, Anusha Nath, Ashoka Mody. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (39 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Some see India's corporate sector as the fundamental driver of recent and future prosperity. Others see it as a source of excessive market power, personal enrichment, and influence over the State, with an ultimately distorting influence. To inform this debate, this paper analyses the correlates of profitability of firms listed on the Bombay Stock Exchange, covering a dynamic period-in terms of firm entry and growth-from the early 1990s to the late 2000s. Overall, the results do not provide support for the systematic exercise of market power via the product market. At least for this period, the story is more consistent with a competitive and dynamic business sector, despite the continued dominance of business houses and public sector firms in terms of sales and assets. Those with opposing views can, with justification, argue that our analysis does not cover influences, such as corporate governance and state-corporate relations, which may paint a less flattering picture of the corporate sector's role. Those broader themes deserve further attention. Mode of access: Internet Mody, Ashoka. Nath, Anusha. IMF Working Papers; Working Paper ; No. 2011/008 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/008/001.2011.issue-008-en.xml IMF e-Library