The "V-Factor": distribution, timing and correlates of the great Indian growth turnaround

Arbeitspapier

Following Bai (2004) and Bai and Ng (2004) we estimate a common factor representation of a panel of output series for India, disaggregated by 15 states and 14 broad industry groups. We find that a single common V-Factor accounts for a large part of the significant shift in the cross-sectional distribution of state-sectoral output growth rates since the mid -1980s. The time profile of the V-Factor appears to be closely related to trade liberalization.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Jena Economic Research Papers ; No. 2009,010

Classification and Topics

• Classification: Wirtschaft ; Economic Development: General ; Economic Growth and Aggregate Productivity: General ; Economywide Country Studies: Asia including Middle East ; Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
• Subject: Economic Growth ; factor models ; principal components ; convergence ; divergence ; Indian states ; Sozialprodukt ; Wirtschaftswachstum ; Entwicklungskonvergenz ; Vergleich ; Indien ; USA

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Ghate, Chetan ; Wright, Stephen
• Event: Veröffentlichung
• (who): Friedrich Schiller University Jena and Max Planck Institute of Economics
• (where): Jena
• (when): 2009

Further information

• Handle: http://hdl.handle.net/10419/31784
• Last update: 10.03.2025, 11:42 AM CET