Arbeitspapier
Revisiting India's growth transitions
This paper reconsiders two questions relating to India's economic growth: structural breaks in growth and the impact of equipment investment on aggregate economic growth. First, statistical tests of structural change show that economic growth in post-independence India has witnessed four structural breaks: in 1964-65, in 1978-79, in 1990-91, and in 2004-05. However, substantial growth accelerations, i.e. increase of more than 1.0% per annum in the growth rate of per capita real GDP, occurred only at two points: 1978-79 and 2004-05. Second, to analyze the impact of equipment investment on growth, I use an ARDL bounds testing methodology. I find a positive and statistically significant long run positive impact of private investment in equipment and machinery on the growth rate of real GDP.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2020-01
- Klassifikation
-
Wirtschaft
Macroeconomic Analyses of Economic Development
Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Economywide Country Studies: Asia including Middle East
- Thema
-
India
economic growth
structural change
ARDL bounds testing
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Basu, Deepankar
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Massachusetts, Department of Economics
- (wo)
-
Amherst, MA
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Basu, Deepankar
- University of Massachusetts, Department of Economics
Entstanden
- 2020
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