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What does the spread of founding years across India’s economic regulators, from 1934 to 2003, trace?

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1. What does the spread of founding years across India’s economic regulators, from 1934 to 2003, trace?

India’s economic history: banking regulation came first, followed by sector-specific regulators as the economy grew more complex

A completely random sequence with no historical pattern

The fact that all regulators were created on the exact same day

A pattern showing regulation decreasing over time

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