Anand V. Swamy

Photo of Anand V. Swamy

Chair of the Executive Committee for the Center for Development Economics and The Willmott Family Third Century Professor of Economics

Schapiro Hall Rm 320


B.A. University of Delhi (1983)
M.A. Delhi School of Economics (1985)
Ph.D. Northwestern University, Economics (1993)

Areas of Expertise

  • Economics of institutions in developing countries
  • Indian economic history
  • Land, labor and credit markets in developing countries
  • South Asia



The Indian Economy: Development and Social Justice (not offered 2024/25)

Current Committees

  • Global Studies
  • Honorary Degrees Committee


Under contract: The  Cambridge Economic History of Modern South Asia, edited jointly with Latika Chaudhary and Tirthankar Roy.

Forthcoming: Law and the Economy in a Young Democracy: India, 1950-2015, with Tirthankar Roy, University of Chicago Press.

Law and the Economy in Colonial India, with Tirthankar Roy, University of Chicago Press, 2016.

A New Economic History of Colonial India, edited by Latika Chaudhary, Bishnupriya Gupta, Tirthankar Roy, and Anand Swamy, Routledge, 2015.

Publications and Working Papers

“A Policy of Credit Disruption: The Punjab Land Alienation Act, 1900”, with Latika Chaudhary, forthcoming in Economic History Review.

“From the Mughals to the Raj: India, 1700-1858”, forthcoming in Cambridge Economic History of the Modern World, edited by Stephen Broadberry and Kyoji Fukao.

“Protecting the Borrower: An Experiment in Colonial India,” with Latika Chaudhary,  Explorations in Economic History, 2017, Vol. 65, 36-54.

“Reputational Consequences of Labor Coercion: Evidence from Assam’s Tea Plantations,” with Bishnupriya Gupta,  Journal of Development Economics, 2017, Vol. 127, 431-39.

“Law and Contract Enforcement in Colonial India,” in B. Gupta, L. Chaudhary, T. Roy and A. Swamy eds. A New Economic History of Colonial India, Routledge, 2015.

“Agriculture in Colonial India,” in B. Gupta, L. Chaudhary, T. Roy and A. Swamy eds. A New Economic History of Colonial India, Routledge, 2015.

“Myopia or Strategic Behavior? Indian Regimes and the East India Company in Late Eighteenth Century India” (joint with Mandar Oak), Explorations in Economic History, 2012.

“Land and Law in Colonial India,” in Debin Ma and Jan Luiten Van Zanden eds. Long-term Economic Change in Eurasian Perspective, Stanford University Press, 2011.

“Only Twice as Much: A Rule for Regulating Lenders,” with Mandar Oak, Economic Development and Cultural Change, July 2010.

“Contracts, Hold-Up and Exports: Textiles and Opium in Colonial India” (joint with Rachel Kranton), American Economic Review, June 2008.

“Taxation by Auction: Fund-Raising by 19th Century Indian Guilds,” Journal of Development Economics, Volume 74, Issue 2, August 2004, Pages 411-428, Arijit Sen and Anand Swamy.

“Social Capital, Household Welfare and Poverty in Burkina Faso,” joint with Christiaan Grootaert and Gi-Taik Oh, Journal of African Economies, March 2002, 11(1): 4-38.

“Governance and Growth: A Simple Hypothesis Explaining Cross-country Differences in Productivity Growth,” joint with Mancur Olson and Naveen Sarna, Public Choice, 2000, Vol.102, 3-4, 341-364.

“Estimating the Contributions of Capital and Labor to GDP: An Instrumental Variable Approach,” joint with Brian Fikkert, Economic Development and Cultural Change, Vol. 50, #3, 2002.

“Co-operation, Conflict, and Economic Development in India: An Analysis of the Farmers’ Movements,” in Mancur Olson and Satu Kähkönen eds. A New Institutional Approach to Economic Development, 2001, Vistaar Publications, New Delhi.

“Gender and Corruption” (joint with Omar Azfar, Steve Knack, and Young Lee), Journal of Development Economics, 2001, Vol. 64, 25-55.

“The Causes and Consequences of Corruption” (joint with Omar Azfar and Young Lee), Annals of the American Academy of Social and Political Science, 2001, Vol. 273, 42-56.

“Social Capital and Development in Burkina Faso” (joint with Christiaan Grootaert and Gi-Taik Oh), in Social Capital and Development: Well-being in Developing Countries, edited by Jonathan Isham, Thomas Kelley, and Sundar Ramaswamy, Edward Elgar Press, 2002.

“Factor Markets and Resource Allocation in Colonial Punjab,” Journal of Development Studies, 1998, Vol. 34, 97-115.

“The Hazards of Piecemeal Reform: British Civil Courts and the Credit Market in Colonial India,” joint with Rachel Kranton, Journal of Development Economics, 1999, Vol. 58, 1-24.

“A Simple Test of the Nutrition-based Efficiency Wage Model,” Journal of Development Economics, 1997, Vol. 53, 85-98.

“Explaining Ethnic Differentials in Credit Market Outcomes in Zimbabwe,” joint with Mayank Raturi, Economic Development and Cultural Change, 1999, Vol. 47, 585-604.


Selected Work Experience

Assistant Professor of Economics University of Maryland, 1993-1999

Consultant World Bank, 1996 and 1998